Monday, July 13, 2009

Piracy stunting Nollywood growth

It's estimated that up to 50 percent of the Nigerian movie industry's profits are being lost to piracy according to Nollywood insiders.

Emmanuel Isikaku, the president of the Film and Video Producers and Marketers Association (FVPMA) said "Piracy has dealt a big blow to the industry," He has also been producing Nigerian movies for 13 years. In his 2007 movie "Plane Crash" which was very popular with Nigerian audiences, he failed to recover his costs and lost a lot of money because of piracy.

In an interview with CNN, Isikaku said "I couldn't make anything from it, because of piracy, I didn't even break even. A lot of people watched the film. But unfortunately, they watched pirated copies.

According to a survey conducted by the UNESCO Institute for Statistics (UIS), Nollywood is the second biggest movie producing sector in the world. 


Related stories: CNN covers the Nollywood industry

Globacom appoints Nollywood Ambassadors

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