The Creative Economy is Driven by the Digital Economy

Image credit: 
https://city.cri.cn/20210507/633e86e4-7cc0-92c5-a18c-439c6dec1d4b.html

The development of the Creative Economy is hinged on the development of the Digital Economy in the 21st century.

The creative industry in the 21st century is driven by digital technology from the street to the internet. 

Monetization of every format of intellectual property (IP) is mostly generated by digital applications of production, acquisition, distribution, collection and exhibition of which the transactions for the revenues are through fintech applications and services.

We cannot have a robust creative

economy without the support of the digital economy. Both economies have become interlocked as can be seen in Apple, Amazon, Alphabet, Meta, X and the new developments by the MultiChoice Group in Africa. 

The largest revenues of the entertainment industry are online.

Where else can we have billions of downloads and views of content?

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THE ROLE OF DIGITAL ECONOMY IN ADVANCING CREATIVE INDUSTRIES-CREATIVITY 2030 SEMINAR

https://city.cri.cn/20210507/633e86e4-7cc0-92c5-a18c-439c6dec1d4b.html

- By Ekenyerengozi Michael Chima,

The Founder/CEO,

International Digital Post Network Limited,

Lagos, Nigeria.

Content Creators Earn More on Blogger Than TikTok

Content Creators Earn More on Blogger Than TikTok

Monetizing a blog with Google AdSense or another advertising platform may provide earnings of about $2 to $5 per 1,000 page views.

 A blog that receives 10,000 views per day may generate about $20 to $50 in income.- 16 December, 2022.

TikTok pays around $0.02 and $0.04 for every 1,000 views. These are reports based on payments received through the TikTok Creator Fund. 

This is a program that TikTok introduced in 2021 in a bid to compensate content creators.

There are content creators making thousands of dollars monthly on Blogger from sponsored posts and adverts on their blogs.

As a publisher, you will get 68 percent of the click amount (and 51 percent when it comes to Google AdSense for search). The commission you will receive depends mainly on the competition as well as CPC in a niche. In most cases, the commission per click will range between $0.20 and $15.30 

- August, 2022.

Meta should pay content creators on Facebook and Instagram.

My premier blog on Blogger, Nigerians Report Online has over 200, 000 pageviews monthly and should be making from $5, 000 - $10, 000 monthly. But I have not really monetized it. 70 percent of the viewers are located in the United States of America. 

#Bogger
#TikTok
#YouTube
#Google
#AdSense
#Meta
#Facebook
#CPC
#views
#adverts
#monetization

- Ekenyerengozi Michael Chima

The Scramble for Nollywood and The Status of Lagos State

The Scramble for Nollywood and The Status of Lagos State

Everyone wants to have a bite of a hot pizza. 

I hope the current scramble for Nollywood by the major streaming video services from America is not like the scramble for Africa by European powers  (between 1881 and 1914).

Entertainment is Power 

I wonder if the Nigerian government knows the dynamics of the overwhelming power of our entertainment industry beyond the glitz and razzmatazz and surplus  economic returns.

The internet has become the most powerful vehicle of the entertainment industry since the inventions of the cinema and television.

The sociocultural, socioeconomic and sociopolitical powers of entertainment can define and determine the future of a nation and the civilization of the people.

Entertainment generates more revenues for America than oil. 

That is why California is the richest state in the United States.

The economy of California, with a gross state product of $3.2 trillion as of 2019, is the largest sub-national economy in the world.

California is the home of Hollywood, Silicon Valley and Mountain View, the headquarters of the entertainment industry and of the Big Techs, including Apple, Alphabet and Meta. And is home to five of the world's ten largest companies by market capitalization and four of the world's ten richest people.

Without the internet, these Big Techs will not be Big and without entertainment, they will not become the biggest tech giants in the world.

Lagos is the powerhouse of the economy of Nigeria and the capital of the entertainment industry in Nigeria, the home of Nollywood and the home of Yabacon, the Silicon Valley of Nigeria where there are the first tech unicorns in Africa. And Lagos can become to Nigeria what California is to America. 

As it has been noted that if California were a country, it would be the fifth largest economy in the world, likewise Lagos would be the fifth-largest economy in Africa if it were a country.

The realization of the awesome developments of tech startups connected to the entertainment industry in Lagos is what has attracted the biggest American streaming video services to Nollywood. 

Disney already has a base in Nigeria with the long term partnership with Kugali Media.

https://www.cnn.com/2020/12/11/africa/disney-africa-kugali-iwaju-partnership-spc-intl/index.html

I am excited about the Scramble for Nollywood and the competition for our original content. 

Only the best is good enough for us. 

As we say in my mother tongue of Igbo language, NKIRUKA, which means that the future is greater. 

This is the Big Picture of Nollywood I saw coming years ago. The future is here.

- By EKENYERENGOZI Michael Chima 

Publisher/Editor, 

NOLLYWOOD MIRROR®Series 

247 Nigeria (@247nigeria) / Twitter

https://mobile.twitter.com/247nigeria

https://www.amazon.com/author/ekenyerengozimichaelchima

https://www.linkedin.com/in/michaelchimaeyerengozi