Ovie Omo-Agege, the Deputy Senate President has revealed that the National Assembly, NASS, has committed to enacting laws that will encourage private enterprises and further the growth of the country’s creative sector.
Omo-Agege has decried that despite Nigeria leading in raw content production in Africa, the country was still not doing enough to monetize them either through production, distribution, or royalty collection.
At the Nigerian Electronic Media Content Exhibition and Award, -NEMCEA 2022, Senator Omo-Agege said that it was the largest event for electronic media content and the film industry, which will hold yearly to usher stakeholders worldwide into the media industry space, to market, collaborate, aggregate, and exchange ideas around content.
“I commend the Electronic Media Content Owners Association of Nigeria, -EMCOAN, for this initiative. Nigeria is no doubt a clear leader in raw content production in Africa. Nollywood, Hip Hop, Afrobeat, and our Comedians testify to this. But we are not doing enough to monetize them either through production, distribution, or royalty collection. It is also obvious that we need to be more aware that video, not television, is mostly consumed by a younger audience who make up a huge percentage of the entertainment market.”
“A recent survey done in more than 42 countries disclosed that expected video consumption on devices in the next 3 years will grow 45 % on Mobile, 45 % on internet-enabled TV, 40% on Tablet, and 36 % on Laptop computers. Meanwhile, Traditional TV grew by 0%! This led the researchers to conclude that video is not only increasingly consumed from the internet, but it is also clearly going mobile.”
