Speaking, Executive Vice Chairman of the Group, Dr. Tunji Olugodi at the programme - 7th Innovention Series, themed Building Africa’s Reputation Through Mediatainment in Lagos, said: “About two decades ago, Africa had an ignoble past as a continent ridden with corruption and was renowned for poverty, human rights violations amongst others.”
He however, said the narrative has started changing as Africa is currently credited with many global creative works, which have been amplified through media exposure and the internet. The creative industry has changed the perspective about Africa.
He went on to say, “this evolution has changed the ecosystem within the industry and it has brought fortune to youngsters; offsetting monopolies and creating a new distribution model.
As it is said, “Content is King” in this dispensation. With this development, we all have to migrate into the new era and one of the ways is by learning from the colossus.”
Quoting a 2014 statistics released by the Nigerian government, he said, “Nollywood was valued as a $3.3 billion sector, with 1844 movies produced in 2013 alone. In the last 4 years, that figure would have increased tremendously.
With productions like Saro the Musical, Wakaa, The Wedding Party franchise, Web Series, Love like a movie, Science Student, Skinny Girl in Transit, and of course, Wakanda, Africa is clearly taking the lead in telling its stories.”
“There are many observers who believe that the global reach of African content could take off, led by video on demand (VOD), powered by the internet and strong distribution networks. This is driven by the popularity of Nigerian content across Africa and the diaspora.”