IBST Limited’s Post

I am not a filmmaker. The intricacies of the industry intimidate me, but I have been immersed in the ecosystem of media, broadcast, content, and technology for decades. Perhaps I lack the daring of a risk-taker. However, Nollywood—a paradox of creativity and systemic challenges—leaves much to unpack. As the second-largest film industry globally by volume, it is a cultural powerhouse resonating deeply with audiences across Africa and the diaspora. Yet, its potential remains constrained by structural inefficiencies, unethical practices, and a fragile business model. Nollywood thrives on an unconventional formula of low-budget productions, guerrilla-style filmmaking, and cultural storytelling, fostering deep audience connections. However, this informality hinders scalability and discourages the significant investments needed to elevate its global standing. Platforms like YouTube have become the primary distribution channels for Nigerian filmmakers. Unlike Netflix or Amazon Prime, which demand polished productions and high subscription fees, YouTube provides a free, accessible platform. It supports diverse content, empowering independent creators with direct revenue opportunities—critical in an industry plagued by piracy, inconsistent revenue streams, and unscrupulous practices. Despite the presence of big streamers, adoption remains limited due to high subscription costs, insufficient localization, and infrastructural challenges like unreliable electricity and costly internet. Additionally, unethical practices—exploiting talent and financial mismanagement—erode trust and deter foreign investment. Still, Nollywood is a beacon for Africa’s creative economy. Its cultural impact is profound, and global collaborations hint at transformative potential. To unlock this, systemic reforms are crucial: investments in infrastructure, standardized practices, fair treatment of talent, and stronger regulatory frameworks to combat piracy and enforce accountability. Nollywood stands at a crossroads. Its raw creativity captivates, but its sustainability depends on addressing structural flaws. With the right reforms and investments, Nollywood could emerge as a globally competitive industry, driving significant economic growth for Nigeria.

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