Published on September 15th, 20180
Genevieve Nnaji; Her Movie and the Netflix move!
Nollywood is currently raving about Netflix’s acquisition of Genevieve Nnaji’s yet-to-be released movie titled “Lion Heart”.
The likes of Richard Mofe- Damijo, Mo Abudu, Uche Jombo, Rita Dominic and Osas Ighodaro have all taken to social media to express delight in response to the feat.
Netflix announced it had acquired the worldwide rights for the film on Friday, the eve of its world premiere at the 2018 Toronto Film Festival.
Netflix, Inc. is one of the largest providers of streaming television and movie content on the Internet. It currently boasts over 117.6 million subscribers and partners with content providers to license streaming rights for a variety of TV shows and movies.
The deal is a significant milestone for Nollywood, which was recently named the world’s most prolific film industry by the International Federation of Film Producers’ Associations. Its widely known that when Netflix brands a movie as a Netflix Original, for example, it puts a lot more marketing behind it. This includes billboards and heavy promotion in the press.
While Lionheart is not the only Nigerian movie listed on the American movie streaming platform, it is the first original Nollywood film to be bought by the American movie streaming platform.
Some Nollywood films currently showing on Netflix include The Wedding Party, Fifty, The Visit, When Love Happens, Road to Yesterday and Dearest Mummy.
While the exact figures haven’t been made public, streamingmedia.com (a leading authority on online video for entertainment) stated that Netflix might pay $3 million to own exclusive rights to a production.
“Deals vary, but in general, Netflix pays two-thirds more than studios. One reason Netflix and Amazon are willing to pay more is because they often want exclusive rights in perpetuity. They want worldwide distribution so movie lovers who hear about a certain indie film can only see it on their platform. They’re award-eligible, that doesn’t always happen,” the website noted.