On CNN’s ‘Marketplace Africa’, host Zain Asher sits down with comedian and CEO of Corporate World Entertainment Ay Makun to explore some of the obstacles faced by independent producers in Nollywood.
The Nigerian film industry is experiencing a significant increase in investments and popularity. Makun explains that this is the result of Nigerians realising that money can be made from Nollywood: “People are now beginning to know that you can make money from our movies. Investors are starting to come in and collaborations between different production outfits are beginning.”
When asked how the country’s recession impacted business, Makun reveals his company suffered: “It affected the last movie I did, 10 Days in Suncity, because of the exchange rate. I was shooting in Nigeria and South Africa so the exchange rate was crazy and that affected finance.”
However, Nigerians seeking a short respite from the realities of the recession continued to spend money on movies. Makun explains: “Recession or no recession, Nigerians want to like a product and they are ready to go out there and see it – it’s part of the relief for them.”
Makun moves on to outlining what it takes to produce a financially successful Nollywood movie: “The secret is not for you to just jump in because you think people are making money. You need to do your research. You also need to have an understanding of finance.”
Watch interview below:
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