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Entertainment : Mixed fortunes to trail industry in 2025

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Entertainment : Mixed fortunes to trail industry in 2025

 

Nollywood continued its upward trajectory, delivering blockbusters and groundbreaking projects. Funke Akindele’s Everybody Loves Jenifa became a cultural sensation, grossing over ₦1 billion within 19 days of release, setting a new benchmark for Nollywood cinema. Despite this success, challenges of piracy across the board persist.

For instance, the Anikulapo series had an ambitious ₦500 million budget, with actors earning an average of  ₦10 million. Kunle Afolayan, the director, envisioned the project reaching international acclaim akin to Game of Thrones while granting an interview to Guardian UK.

Other notable productions include Seven Doors, shot in Ilara, Ondo State, with a ₦300 million budget. Its authentic depiction of post-independence Nigeria earned widespread acclaim.

Lisabi, on the other hand, showed the struggles of independent filmmaking; its producer contemplated selling his car to fund production despite its modest budget of #150 million. “I told my wife that if I can get a buyer for my car, I’d sell it. Because we had to spend x5 of the initial budget for the film. Everything used for the movie, including the mud houses and props, was built from scratch.” Strategic partnerships eventually helped the film break even.

Music: Labels and Investments

The music scene saw labels invest millions in grooming artists. Universal Music Group (UMG) acquiring a majority stake of reportedly more than $130 million in Mavin Records highlighted this trend, providing resources for nurturing talent. Empire Distribution’s influence also helped Nigerian artists gain international recognition with its initial act or experiment with Olamide and the entire YBNL team.

However, disputes over contracts and sudden exits by artists continue to unsettle the sector. CEO of Kennis Music label and Kennis radio, Kenny Ogungbe said “Before they blow, if you met them, you’ll feel sorry for them, you’ll spend a lot of money on the musician and after some time, they’ll say they’re not doing again”. He revealed his experiences with growing names in the industry from the mid to late 2000s-2010s, while speaking on the Honest Bunch Podcast. These seemingly ingratious moves still happen to date in the music industry. He (Kenny) cleared the air that, an advance from labels to artists are meant to be recouped via a contract signed and works released. “Record labels shouldn’t ever be seen as charity business”, he said.

Tourism and Film Villages

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Visionaries like Kunle Afolayan, Ibrahim Chatta, and Bolanle Austen-Peters made significant contributions by establishing film villages and resorts. These infrastructures have improved production capabilities while boosting local economies and tourism. Afolayan’s Oyo film village, for example, has become a hub for local and international filmmakers, creating jobs and uplifting surrounding communities. This is despite his complaint of not being able to open fully because they have been running on a generator for the last 3 years. He, however, mentioned that Oyo state government donated a transformer and electric poles. This gesture is according to him, quite considerate, but, the entire community where the film village is situated needs to be electrified because they’ve never had electricity. He disclosed these during the Zuma International Film Festival.

The Exit of Netflix and Prime Video

The withdrawal of Netflix and Prime Video from Nigeria in 2024 is disrupting the distribution strategy for many filmmakers. This void is pushing stakeholders toward alternative platforms or traditional cinemas. This move became clear after what we would call ‘The Fatal Last Supper’, where Netflix called in a party for their Nigerian filmmakers.

The devaluation of the Naira further complicates revenue projections, making 2025 uncertain for many. However, the budgets for movies, music, and tourism projects have been substantial, with revenues reflecting the industry’s growth. For example, according to statista.com, the Nigerian cinema market is projected to reach US$123.50 million in 2024, with a strong performance from local productions.

Many filmmakers are calling on private individuals and the government, to create an atmosphere for local distribution/streaming brands. This would beat the cheaper alternative of YouTube, which may decide, with one policy, to disrupt the distribution of filmmakers distributing on there too.

Looking Forward to 2025

Despite economic challenges, the Nigerian entertainment industry shows resilience. Stakeholders are exploring innovative funding, enhancing local distribution, and calling for supportive government policies. With strategic planning, 2025 could bring another year of growth for Nigeria’s movies, music, and tourism sectors.

This vibrant sector, full of creativity and tenacity, remains a cornerstone of Nigeria’s cultural identity and global influence despite it being privately funded, with almost zero support from the government. The last time Nollywood experienced grants and or, support from the government was during Goodluck Jonathan’s administration, with the ‘Project Act Nollywood’ scheme. This enabled a lot of filmmakers to explore filming in its diverse manner.

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