Filmtech startups in Nigeria: Nigeria’s film industry, Nollywood, is undoubtedly a powerhouse. Ranked as the world’s second-fastest growing film sector, Nollywood is attracting major investments and experiencing massive growth. Despite this success, challenges remain.
This article explores how tech startups are addressing Nollywood’s hurdles and fueling its transformation.
Nollywood boasts a cumulative box office revenue of N19 billion over the past three years. Backed by giants like Netflix and Amazon Prime, the industry is a $6.4 billion behemoth. Yet, it faces hurdles in areas like talent acquisition, production locations, and financing.
Several CEOs are stepping up to bridge these gaps with innovative tech solutions. Here are a few examples:
Filmmakers Mart (Eric Kafui Okyerefo): This platform streamlines video production by connecting creators with essential services. Okyerefo, a seasoned producer, is passionate about promoting talent and building a robust film ecosystem in Africa.
Rushing Tap (Soji Ogunnaike): Founded in 2014, Rushing Tap creates original African content and licenses it to distributors. Ogunnaike, a media veteran, boasts over two decades of experience. The company recently partnered with POV Studios to establish a state-of-the-art production facility in Lagos.
Albantsho (Julie Ako): This platform connects black African storytellers. Ako, a filmmaker with a background in computer science, aims to reshape African narratives through technology.
Filmlocations Nigeria (Akinsola Muse): This platform helps filmmakers find suitable locations. Muse, a renowned director and producer, founded the company in 2016.
Nollydata (Chidinma Igbokweuche): This platform serves as a central hub for information on Nollywood films, actors, and producers. Igbokweuche, a screenwriter and filmmaker, aims to improve the industry’s organization and global visibility.
The Future of Nollywood
With these tech solutions paving the way, Nollywood is poised for even greater success. The industry is embracing technology to overcome its challenges and solidify its position as a global filmmaking powerhouse.
