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Nigerian Cinema Space Set for Transformation With AY’s Co-Distribution Shift
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Genesis Pictures and Silverbird Distribution have announced a significant co-distribution agreement for The Waiter, the latest film by renowned comedian and filmmaker Ayo Makun, also known as AY. This agreement marks the first time two major Nigerian film distribution companies have collaborated on a single release, setting a new precedent for the industry. The Waiter, produced by Corporate World Entertainment, is an action-comedy that combines thrilling entertainment with a critical look at Nigeria’s socio-political issues.
Both Dr. Nnaeto Orazulike of Genesis Pictures and Isabella Okechukwu of Silverbird Distribution highlighted the innovative nature of this partnership. Orazulike emphasized the goal of reaching wider audiences across Nigeria, while Okechukwu noted that the collaboration will set a new standard for film distribution and open up new revenue opportunities. AY expressed his enthusiasm for the partnership, viewing it as a major step in modernizing Nigerian film distribution practices.
Dubbed the “Gensilver deal”, it has significant implications for Nigeria’s cinema landscape. With their combined market share of 35.3%, the duo is now poised to rival FilmOne’s long-standing dominance in the industry.
This strategic partnership could potentially disrupt the status quo, as Genesis and Silverbird’s combined strength enables them to compete more effectively with FilmOne. The Gensilver deal may signal a new era of cooperation and innovation in Nollywood, with a focus on equitable revenue sharing and collaborative marketing efforts.
As the landscape shifts, industry observers will be watching closely to see how FilmOne and other rivals responds to this emerging challenge.
Will Genesis-Silverbird Alliance Redefine Distribution?
A look at the cinemas with high admissions in 2023 shows that the Gensilver alliance has captured a huge market share. The top-grossing cinemas reveal a dominant presence of Silverbird and Genesis, the two partners in the Gensilver deal.
Top-Grossing Cinemas in 2023:
Silverbird Cinema (Ikeja City Mall): N345 million
Filmhouse (IMAX Lekki): N322 million
Silverbird Cinema (Victoria Island): N276 million
Genesis Cinemas (Maryland Mall): N246 million
The Gensilver deal’s success is evident in the market share captured by these cinemas, with a combined market share of 35.3%. This strategic partnership between Genesis and Silverbird is poised to revolutionize the Nigerian cinema landscape, offering a robust platform for filmmakers and audiences alike
Key Background
Ayo Makun, known as AY, has had a transformative impact on the Nigerian film industry with his unique filmmaking style. Starting with his debut film 30 Days in Atlanta (2014), which became one of Nollywood’s highest-grossing films, AY quickly established himself as a key figure in the industry. His follow-up projects, A Trip to Jamaica (2016) and Merry Men: The Real Yoruba Demons (2018), reinforced his reputation for combining humor with captivating narratives. Through his production company, Corporate World Entertainment, AY has consistently advanced Nollywood cinema, blending commercial appeal with insightful social commentary.
In Summary
The Gensilver deal’s success may pave the way for more co-distribution partnerships in Nollywood.
The revenue waterfall model could become a benchmark for future deals, promoting transparency and fairness.
The Waiter will hit the December box office alongside new films from Funke Akindele, Toyin Abraham, and Mercy Aigbe, creating a competitive month for Nollywood releases.
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