Bolanle Austen-Peters, a Nigerian movie director, producer, and entrepreneur, during a panel session at the 2024 CEO Forum organised by BusinessDay emphasised the need for investment in the Nigerian creative industry especially in the film sector to achieve excellence and global recognition.
Nigeria with a population of over 200 million people has a total of 76 movie cinemas as of 2023 with most of them situated in Lagos (28). According to the Nigerian Box Office report compiled by Filmone, Total admission in 2023 was 2.6 million, with 194 movies released, with a total Gross Box Office revenue of N7.35 billion ($4.1 million).
‘Barbie’ which is considered the most successful film of 2023 made over $636.2 million in the US alone from 4,337 cinemas. The movie is just one of 24 movies that grossed over $100 million in the US in 2023. In another example, IMDb box office weekend reports for July 12 – July 14 show the United Kingdom with 1087 cinema locations leading with $11.5 million followed by Japan with $10.3 million while South Africa came in at $125,138. Nigeria’s weekend report for June 26 – June 30 was reported at $4,602.
“There are certain things you cannot do if you’re not funded adequately. So when people want the excellence of Hollywood production in Nigeria and corporate Nigeria and philanthropist and private individuals sit down and do not invest in that space, you cannot get that quality. It will never happen, The challenge is that the support is just not there,” Austine-Peters said.
James Amuta, a Nigerian filmmaker and producer, emphasised the need for investment in infrastructure, particularly in building cinemas. He said, “We need total infrastructural investment, in the next 5 years we need to raise the total number of cinemas to at least 300.”
Amuta pointed out a problem with the current design of cinemas in Nigeria, stating they cater exclusively to the elite and are inaccessible to the poor due to their location in expensive shopping malls and high ticket prices.
Amuta argued that the high cost of cinema outings is driving people towards streaming platforms, and that to popularise cinema, it needs to be established at a grassroots level, allowing people with lower disposable incomes who mostly are key factors in influencing pop culture in Nigeria to participate.
Austen-Peters highlighted the vast potential of Nigeria’s film industry, drawing a comparison with China’s booming cinema business. She recounted a conversation with Chinese filmmakers keen to collaborate on VFX projects in Nigeria. However, when discussing the financial aspects, the stark difference in movie turnovers became evident.
While a highly successful Nigerian film like ‘Funmilayo Ransom-Kuti’ might gross $200,000, the Chinese counterparts effortlessly rake in a minimum of $1,000,000 per movie. This disparity, Austine-Peters argued, is largely due to the infrastructural gap: China boasts close to 100,000 screens compared to Nigeria’s mere 300. “How am I gonna make the money? How does that even make sense?” she questioned, emphasising the need for substantial investment in theatres and infrastructure to unlock the Nigerian film industry’s full potential.
Austine-Peters also touched on the irony of foreign streaming platforms like Netflix and Amazon Prime recognising the value of Nigerian content before local investors. “Netflix, and Amazon Prime, stepped in, they’re not Nigerians. They’re foreigners that have done it for us,” she remarked.
Despite operating with significantly lower budgets, Nigerian movies have consistently topped global view charts on Netflix. Austine-Peters contrasted this with the billion-dollar Hollywood productions funded by these platforms that have often underperformed. “The maximum that I’ve spent doing a film is $800,000. Look at what happened to the film, it blew up,” she exclaimed, highlighting the organic success of Nigerian content.
Amuta proposed a solution of creating smaller, single-screen cinemas throughout the country that would primarily screen Nollywood films, thus avoiding the extra cost of distribution licences for Hollywood titles.
Amuta believes that having a mix of both large and small cinemas, as seen in countries like the US and Canada, would cater to all income levels and encourage a cinema culture in Nigeria.
“This will encourage the cinema culture in Nigeria because we don’t have a cinema culture in Nigeria, we have a home video culture,” Amuta explained.
Austen-Peters advocated for investment in the Nigerian creative sector, emphasising its potential for youth empowerment and economic growth. “All our young children want to be in this space, and we’re not providing the infrastructure. We’re not providing the training. We’re not providing the wherewithal for them to get it right.”
Austen-Peters warned against complacency and the continued neglect of the arts and entertainment industry. “Nothing is going to happen for as long as we all keep looking at setting areas and turning a blind eye to the realities before us, which is that this is where the future is,” she concluded, urging for a collective effort to nurture and support Nigeria’s burgeoning creative talents.
Nigeria is predominantly young. The young people are not particularly interested in the old curriculum and their tastes for the future are evidenced in the kinds of things that they do. They want to be involved in music, art, fashion, in all these areas that we the older generation think are not profitable.”
Austen-Peters also highlighted the global success of Nigerian music, attributing it to its cultural richness and the increasing diaspora. “Nigerian Music is borderless and requires very little infrastructure, and because we have Nigerians going out of Nigeria in greater numbers, we’re exporting our culture,” She said.
This cultural exportation, she argued, has led to wider acceptance and recognition of Nigerian music as part of global popular culture. However, she was quick to point out that this success was not solely due to superior skill, as the same level of talent exists within Nigeria’s film, fashion, and art sectors.
Austen-Peters highlighted the success of Terra Kulture, a Nigerian theatre company she founded, in transforming the theatre landscape in Nigeria. “Terra Kulture has contributed significantly to the growth of theatre in Nigeria musical theatre in particular. We changed the look, the feel, and the acceptance. I can say confidently that out of maybe 10 musical companies that you have in Nigeria today. They all came out of Terra Kulture and it is because we were just committed. You have to have that passion and that zeal,” She said.
Austen-Peters concluded by emphasising the need for a shift in mindset among Nigerians, particularly the older generation, to recognise the potential of the arts and entertainment industry in driving economic growth and cultural influence. She stressed the importance of investing in infrastructure, training, and supporting young talents to fully realise the potential of Nigeria’s creative sector.
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