(By Will McBain) – Canal+ and Netflix Eye
Nollywood Opportunities
Increased foreign investment in the wake of the purchase of a
Nollywood studio by Canal+ could be a game-changer for Nigeria’s already
thriving film industry. Will McBain looks at the prospects for a sector targeted to make $1bn in
export revenue by 2020.
Nollywood has
begun the biggest financial makeover in its history with this summer’s
acquisition of Lagos-based production house ROK film studios by French media
giant Canal+.
The studio was
bought from Africa’s largest subscription-based video-on-demand company
IROKOtv, whose founder Jason Njoku called the sale the “largest media deal in
West African history”. Actress and producer Mary Njoku – Jason Njoku’s wife –
founded ROK studios and will stay on as director general under the Canal+
acquisition.
