Thursday, July 24, 2014

iPost Nigeria Rated Higher Than YouTube and Projected to Make US$1 Billion in 12 Months

iPost Nigeria Rated Higher Than YouTube and Projected to Make US$1 Billion in 12 Months

Nigeria’s highly news and entertainment innovation project iPost Nigeria has been rated to become higher than YouTube for interactive videos and projected to make a whopping US$1billion in the first 12 months after launch.

iPost Nigeria, is an awesome news and information innovation project of prize winning Nigerian writer and prolific blogger Ekenyerengozi Michael Chima, regarded as the most powerful citizen journalist in Nigeria, Africa’s most populous country with over 100 million users of mobile phones and tablets and he is the founder of Citizen Journalists Association of Nigeria (CJAN) with a network of over 90 citizen journalists in Nigeria.

The iPost Nigeria’s mobile video app will make it one of the most advanced news innovation projects in the world and also one of the most advanced social media networks for millions of the users of mobile phones and tablets in the world. And it has been short listed for the 2014 Fund for Internet Research and Education (FIRE) Awards, African Network Information Center (AFRINIC)'s flagship grants and awards programme,

It is the first African mobile video app that can be used for live recording and uploading of news and information on the internet from camera phones and tablets 24/7.
iPost Nigeria’s mobile video app will attract the over 116 million users of GSM phones and tablets in Africa’s largest mobile communications market with over 10 million smart phones and tablets sold in 2013 and will increase in 2014.

iPost Nigeria’s mobile video app allows users to record and upload their videos of news and information on events and incidents as they happen from wherever they are in Nigeria and other locations in the world and the billion dollars will be made from monetization of the videos on the Pay Per View (PPV) channel of iPost Nigeria, targeting the booming video film industry Nollywood, the largest African film industry that has made Iroko TV the Netflix of Africa and other online video streaming website making millions from showing Nollywood movies and TV series, documentaries and music videos in the most populous country in Africa. Nollywood boosted the rebased Gross Domestic Product (GDP) of Nigeria to make the country Africa’s largest economy under “Motion pictures, sound recording and music production,” with a huge increase of N9trillion in size. Analysts stated Nollywood made about N1.72 trillion in 2013.
Robert Orya, Managing Director, Nigerian Export-Import Bank (NEXIM), said last year, Nollywood ranked third globally in revenue. According to him, the revenue the film industry has generated in the last three years was between $300 million and $800 million. “The global film and entertainment industry generated about $90.6 billion revenue in 2010,” Orya explained, saying “the revenue increased to $102.7 billion in 2012. Most of these revenue streams are from theatrical distribution. North America contributed the largest market share of about 40 percent. Europe, Middle East and Africa accounted for 24 percent, Latin America 20 percent, and Asia Pacific made only 3 percent contribution.”
iPost Nigeria’s mobile video app will allow Nollywood film producers and distributors to monetize the videos with over 80% revenue share and paying only 20% to iPost Nigeria for hosting and content management. It will launch in October to millions of Nigerians and others on the internet.

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