Producers Deserve 70% of Revenues from Film Distribution of their Movies
I have been saying that indie producers of movies deserve 70% of all revenues from the distribution of their content on OTT streaming platforms, cable TV and cinemas.
Film distributors and exhibitors make a lot money from:
√ Millions of subscribers of VOD platforms
√ Cable TV channels
√ Cinemas
√ Advertisements
√ Movie Merchandising
They become millionaires and billionaires while majority of the indie producers remain poor.
In Nigeria, making enough to buy a second hand SUV and live in a duplex does not mean you have arrived to hobnob with the Joneses as many Nigerian filmmakers and actors think; posing and posturing as "Big Boys" and "Big Girls" in Nollywood and Kannywood.
Who is fooling whom?
The famous Nigerian child celebrity, 7 year-old Emmanuella of Mark Angel Comedy on YouTube is making more money than many of the producers, actors and "slay queens" in Nollywood and Kannywood. And the popular Nigerian hip hop artistes are richer than them, because they are making more money from the revenues of their singles, mixtapes, LPs and music videos on YouTube while the producers and actors in Nollywood and Kannywood are lamenting and whining about poor returns and movie piracy.
I have published and recommended several highly profitable OTT platforms, but majority of the producers in Nollywood and Kannywood don't see the big picture, too stingy to invest in marketing promos or too lazy to explore the business opportunities.
The Cofounder and CEO of iROKOtv, Mr. Jason Njoku had less than N100 (less than US$1) in his bank account in 2010 and no Nigerian helped him until he got the support of his white buddy, Bastian Gotter from the same university to support him to launch iROKOtv in 2011 from his popular NollywoodLove on YouTube and today he is multimillionaire in dollars, pounds and Euros. “My wife persuaded me to do a little spring cleaning this weekend. As I was going through my things, I came across this old account statement for an iROKO Partners Ltd bank account in London. If you look at the date its 13 July 2010. The statement is for June 2010. That’s right. £60.25 paid in. £60.00 (my feeding money) paid out. And an ending balance of £0.25. That’s right folks. I literally had £0.25 in my account that’s $0.42 or N63," said Jason Njoku.
There is still more open doors to business opportunities in the distribution and exhibition of Nigerian movies that even iROKOtv, Ibaka TV, kweliTV, iflix and cable TV channels have not taken. The kind of OTT platforms that Amazon used and have made Jeff Bezos the current richest man in the world with a net worth of US$114.7 billion (January 2018). Blockchain film distribution is the next big thing and producers can take advantage of the immense benefits.
In conclusion, indie producers in Nollywood, Kannywood and other woods should ask for more in the sharing formula for the revenues from the distribution and exhibition of their movies, including the revenues from the box office tickets, subscriptions, advertisements and movie merchandise.
~ By Ekenyerengozi Michael Chima, Publisher/Editor of the NOLLYWOOD MIRROR®Series, Founder/Executive Director, Focus On Nollywood (FON) @247nigeria
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