Nollywood, a cornerstone of African storytelling and cultural heritage, holds immense economic potential, capable of delivering over 200% returns with proper investments. However, its growth continues to be undermined by piracy, which exposes critical gaps in its distribution infrastructure.
At the recent African Film Finance Forum (AFFF) in Lagos, experts shed light on how piracy, often regarded solely as a threat, also highlights unmet demand that the industry has yet to capitalize on.
“Piracy reflects demand, but the challenge is inadequate supply,” explained Barrister Isioma Idigbe, a Partner at Punuka Attorneys & Solicitors. “Our inability to establish robust distribution networks is preventing Nollywood from fully harnessing its audience’s appetite for content,” she added.
Moses Babatope, CEO of NILE Group, emphasized that while the advent of streaming platforms initially boosted Nollywood, their current retreat underscores the enduring importance of traditional distribution channels like cinemas.
“We were caught up in the excitement of streaming platforms,” Babatope said. “But the truth is, cinemas are still the backbone of sustainable film industries worldwide.”
Babatope noted the resilience of the Nigerian box office, which has seen significant growth despite economic pressures. With projected revenue of N12 billion to N13 billion in 2024 and local films contributing over 55%, he highlighted the importance of expanding cinema access to underserved communities.
“Leveraging community centers and youth clubs to create affordable, accessible cinema experiences could help maintain this momentum,” he suggested.
A Collaborative Path Forward
Panelists at the forum agreed that Nollywood’s long-term success requires a balanced focus on both production and distribution funding.
Ben Murray-Bruce, Founder of the Silverbird Group, called for greater government support.
“The film industry is more than entertainment—it’s a vital economic value chain, much like manufacturing,” he said. Murray-Bruce urged financial institutions to prioritize funding for cinemas, arguing that such investments would boost job creation, economic growth, and industry sustainability.
“If the government can invest in non-performing refineries, it can certainly support a sector with proven ROI potential,” he added.
Mary Ephraim-Egbas, AFFF convener, echoed the need for stronger partnerships between the entertainment and financial sectors. She emphasized collaborating with telecom companies to enhance distribution and curb piracy.
“The African film industry generates over $20 billion annually and provides thousands of jobs. Now is the time to bridge gaps in Nollywood’s value chain and unlock its full potential,” she stated.
Building a Global Hub
Barrister Idigbe compared Nollywood’s challenges to those faced by Brazil and South Africa, where foreign content dominates. She highlighted an opportunity for Nigeria to position itself as a global production hub, especially as international markets seek cost-effective solutions.
“Nigeria has the talent, audience, and demand,” Idigbe noted. “What’s needed is an ecosystem that supports distribution, making it easier for Nigerians to access local content while ensuring investors see significant returns.”
By tackling distribution challenges underscored by piracy, Nollywood can evolve from a regional success story into a global powerhouse, maximizing its potential in the entertainment industry.
