Showing posts with label Nollywood Upgrade Project. Show all posts
Showing posts with label Nollywood Upgrade Project. Show all posts

Thursday, August 21, 2014

Nigeria's Entertainment Industry and the Bane of Piracy

Movie lovers hunt for the latest Nigerian films in the streets of Kingston, Jamaica, and Guangzhou's Little Africa; Nigerian songs play in clubs from London to Kuala Lumpur. But the lion's share of the profit goes to pirates who didn't invest a penny in studio time or camera equipment.
"By some estimates, for every legitimate [movie DVD] copy that is sold by the producer, another five to 10 copies are sold by pirates," said a World Bank study last year. Music CDs are also mass-replicated, leading to losses valued at hundreds of millions of dollars for the film and music industries.
Developing countries have increasingly been looking to creative goods as a source of revenue, according to the study. Asian economies accounted for more than three-quarters of total exports of creative goods from the global south. In Latin America and the Caribbean, exports of creative goods more than doubled – from £2.1bn to $5.3bn – between 1996 and 2005. But Africa, which accounts for less than 1% of creative goods exports, has been left behind.