Omo Sexy remakes Nollywood, music industry into money machine
Omotola Jalade-Ekeinde is trying to reorganise Nollywood and Nigeria’s music industry to become a money-making machine for all the stakeholders as she staged an entertainment fair TEFFEST. Will she succeed?
International Business Times zeroes in on her effort in this feature by AFP:
Fake eyelashes fluttered, bespoke suits were on display and slick music videos played at the inaugural edition of The Entertainment Fair and Festival in Nigeria’s economic hub Lagos in late November.
But behind the glitter, the reality of the film and music sectors in Africa’s most populous nation can often be far less glamorous: wages are low, there are no social protections and copyright law is rarely enforced.
That comes despite the country boasting the second most productive film industry in the world and some of Africa’s biggest pop stars.
Hits by singers like Burna Boy, Wizkid and Davido play non-stop on stations across the continent and Nollywood churns out some 2,500 movies each year.
Despite the successes, revenues from Nigeria’s entertainment and media sector in 2018 lagged well behind that of the continent’s other leading economic powerhouse South Africa at $4.5 billion compared to $9.1 billion, PwC said.
That difference is not down to output or demand as Nigeria produces more, exports more and has a domestic market of some 200 million people, four times bigger than South Africa.
Instead, industry insiders insist it is a problem of organisation.
South Africa has better systems for ensuring royalty payments for artists, stronger legal protections and more modern facilities such as film studios, concert venues and cinemas.
In a bid to help remedy the issues facing the industry, veteran Nollywood star Omotola Jalade-Ekeinde came up with the first entertainment business fair, known as TEFFEST.
It is aimed at bringing together actors, singers, producers, insurers, lawyers and managers to better organise the sector.
“The entertainment industry has grown without structures, without a roof,” Jalade-Ekeinde, nicknamed “Omo Sexy”, told AFP.
“For decades, we were not taken seriously and the big corporation companies didn’t consider us.”
The situation has changed as the industry has grown and now companies like Netflix are looking to step up their involvement in Nollywood and international labels attempting to tap Afropop stars.
“We produced, we grew, we became something suddenly and now the corporate world is trying to understand how we work and how they can deal with us,” Jalade-Ekeinde, AKA “the Queen of Nollywood”, said.
But the problems riddling the industry means it is often difficult to invest.
“There is nothing to celebrate here,” said Efe Omoregbe, manager of singer 2Face and former board member of the Copyright Society of Nigeria (COSON), which was dissolved by the government due to an internal conflict.
