CNN interview: Jason Njoku talks about Nollywood Movies and the African Internet Revolution
A few days ago we shared our views on how streaming Nollywood movies online for free is the future. The leading entrpreneur who has made this possible is Jason Njoku of NollywoodLove. In the interview with CNN below, Jason Njoku explains the extent to which the wave of internet innovation is sweeping through Africa and how putting Nollywood movies online provides more value to fans of Nigerian movies.
His company employs over 40 people and hopes to make a $1 million by the end of 2011 despite only operating for a few months. The company makes its returns from adverts on its online videos. According to Jason Njoku, over 90% of NollywoodLove’s viewers are outside Africa mainly due to the cost and accessibility of internet services across Africa. That statistics only goes to show the enormous potential of online businesses in Africa once internet costs go down and speed and accessibilty is improved.
As part of thier business model, NollywoodLove has syndicate agreements with selected websites where their movies can be streamed and viewed for free. MyWeku is one of the syndicated sites, where the top Nollywood movies can be watched for free.
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This is undoutedbly a brilliant idea that is in the process of being executed on a level that other online businesses could perhaps use as a case study. Judging by the success of the hit Nollywood movie, BlackberryBabes (which has millions of hits on Youtube) there is a definite market for online streaming of African movies. It’s only a matter of time before this model is extended to other areas such as TV shows and documentaries – all made with the intention of the internet viewer in mind. As Jason Njoku put it himself in the interview – “The wave of innovation is unstopable!”across Africa.