French television company Canal+ has acquired the ROK film studio from Video-On-Demand company, IROKOtv for an undisclosed amount. The new acquisition comprises ROK’s production, content distribution, and publishing channels.
As part of the transaction, Iroko Ltd will also take full control of JV Iroko+, a subscription video-on-demand (SVOD) service available in French-speaking Africa.
The ROK acquisition is not the Canal+ Group’s first collaboration with IROKOtv. The media company joined a $19 million Series E investment in 2016, that also saw Canal+ and IROKO launch a French VOD channel.
The acquisition comes as the CANAL+ group looks to strengthen its content production reach in Nigeria and across Africa. As part of the acquisition, ROK founder, Mary Njoku, will continue in a leadership role as director-general of ROK Productions SAS, and will maintain a material shareholding in the company.
According to a statement “ROK will produce thousands of more hours of Nollywood content to deliver movies and original TV series for CANAL+ group’s audiences in French-speaking Africa.”
“As part of the acquisition, CANAL+ group will continue to collaborate with Iroko Ltd, with the non-exclusive content distribution of ROK content through the IrokoTV SVOD app.”
ROK’s debut TV channel was launched in July 2016 by the Lagos-based studio, renowned for its original TV series and Nollywood movies, followed by ROK2 and ROK3 which are carried on satellite pay-TV services like MultiChoice’s DStv, with a differing channel selection in various African countries.
Speaking on the new acquisition, Jacques du Puy, CEO of CANAL+ International said through this acquisition CANAL+ group would develop and enhance the catalog of Nollywood contents and expand the ROK brand inside and outside the African continent.
According to GfK international ViewScape survey, which covered African countries including South Africa, Kenya, and Nigeria, for the first time, found that around 92percent of Nigerian adults with Internet access are using some form of free online video service, while 55% are now paying to watch digital online content.
The study which surveyed 1,250 Nigerian adults with Internet access shows that 99percent of the country’s online adults continue to watch linear broadcast television. Around 12percent watch pirated content from the Internet and 86percent watch digital video on YouTube.
Nigerians spend around six hours a day consuming video content, with 41percent of that time, spent watching free online video and 33percent watching broadcast TV.
The report also stated that DVD/Blu-Ray still accounts for a larger chunk (13percent) of the time Nigerians spend viewing a video than subscription video on demand (SVOD) services like iRoko TV, iFlix and Netflix (11percent). SVOD users across all demographics are the heaviest watchers, spending an average of more than seven and a half hours a day consuming video.
ROK’s debut TV channel was launched in July 2016 by the Lagos-based studio, renowned for its original TV series and Nollywood movies, followed by ROK2 and ROK3 which are carried on satellite pay-TV services like MultiChoice’s DStv, with a differing channel selection in various African countries.
OLUFIKAYO OWOEYE
