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Global streaming giant Netflix revealed that between 2016 and 2022, it invested more than $40 million in the Nigerian film industry.
Ms Shola Sanni, Netflix’s Director of Public Policy for Sub-Saharan Africa, stated at a Digital Content Regulation Conference in Lagos, Nigeria, that the investments were spent on converting local film titles, capacity building, and infrastructure development in the business.
She said that Netflix had co-produced and commissioned original film in addition to investing in more than 200 locally licensed titles.
As a result, as of November 2022, more than 125 Nigerian movies and TV shows are accessible on Netflix.
According to the Netflix representative, the streaming service is spending a lot of money to make sure that all of its users can access the same material anywhere in the world.
“We love Nigeria and believe in it, which is why we are investing in the Nigerian film industry to entertain Nigerians and the world with the best-in-class stories from the country.
Speaking at the same event, Adedayo Thomas, Executive Director of the National Film And Video Censors Board (NFVCB), stated that the gathering was an opportunity to debate film industry regulation, with an emphasis on streaming services.
“The overall goal of this conference is to create a platform for robust dialogue between the government, through the regulator and the Video-on-Demand (VOD) platforms.
Prof. Sunday Ododo, General Manager/CEO of National Arts Theatre in Nigeria, praised Thomas for his perseverance in promoting a complete awareness of what the industry is doing in his goodwill letter.
Ododo claimed that the National Theatre underwent extensive construction costing more than $100 million with the goal of making the location extremely exotic for concerts and exhibitions.
“Work has reached an advanced stage, and part of the facility is ready. We will do a test run between Nov. 14 and Nov. 18, 2022,” he said, as the government strives to oversee, monitor, moderate and balance the digital phenomenon for all players.
Content created and supplied by: Kritiq
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