Africa’s Entertainment Industry Falls To Worst Level In History– iROKOTV CEO
The Chief Executive Officer of Nigerian based iROKOTV, Jason Njoku, has said that the continent’s entertainment industry has witnessed the worst drop in consumption rate in its history.
According to the filmmaker, the consumption rate has plunged by 50 per cent as a result of the outbreak of Covid- 19 pandemic.
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The CEO said on Monday that the entertainment space across African needs daring innovation to save the industry which has been hit by the pandemic.
The effect of the pandemic between March to June has significantly dipped the consumption rate in the industry across the continent, including Nigeria which houses the biggest movie industry in Africa.
Njoku siad, “Over the rest of 2020, in and across Africa we need to execute a product pivot as daring as when we formed and founded ROK.
“The entertainment space is being completely decimated in Africa. Music, Cinema, Events, Content Subscriptions. Everything is 50 per cent to 100 per cent down since Covid19 hit.”
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The CEO of the on-demand Nollywood movie platform also revealed that cinema revenue has gone down by 100 per cent as a result of the guidelines which restricted public gathering and the total lockdown.
“Things have gotten considerably worse. Our international business has continued to grow. In Africa I’ve never seen things so bad. Ever,” he added.
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