FILM FINANCING IN NIGERIA: SYNDICATED FINANCING & COMPLETION BONDS
Introduction
FILM FINANCING IN NIGERIA: SYNDICATED FINANCING & COMPLETION BONDS
Introduction
The growth and successes of the Nigerian movie industry, popularly referred to as Nollywood, has been widely documented. It is now generally accepted that this sub-sector within the entertainment industry is the driving force behind the huge spike in the gross domestic product (GDP) of entertainment sector and the positive knock-on effect on the country’s GDP figures as a whole.
This sector, which includes both straight-to-dvd and cinematic releases, was valued at over $2b (Two Billion United States Dollars) as at 2015. What is particularly interesting is that the bulk of this sector’s value has been built on the mass, low budget production model of the dvd market. With the advent of new players in the distribution space, particularly VOD aggregators/distributors, and the increasing use of mobile devices to deliver content, there will continue to be downward pressure on the dvd market in Nigeria. This can but…