As the industry navigates its most critical growth phase yet, staying informed has never been more crucial.
Hey there. Welcome to the inaugural edition of “Nollywood Watch Weekly,” your premier source for insider knowledge and expert analysis on the Nigerian film and TV industry. Written by the seasoned Akintunde Damilare, this newsletter delivers actionable insights, data-driven trends, and unvarnished commentary to help you make sense of the rapidly evolving Nollywood landscape.
From box office performance and production trends to talent spotting and industry innovations, we’ve got you covered. Our mission is to provide you with the intelligence you need to stay ahead of the curve and capitalize on emerging opportunities.
So expect: Insider scoops and exclusive analysis, Expert commentary from industry thought leaders, Data-driven insights and market trends, Unvarnished opinions and constructive critique.
Let’s get down to business. Subscribe now and join the conversation!
Top Story: KOB 3 is not a Netflix title
In a surprising move, writer/director Kemi Adetiba has revealed that her latest “King of Boys” title will not receive funding from Netflix, contrary to earlier assumptions. This decision comes after Netflix announced it would no longer commission Nigerian originals.
Sources suggest the title may have been one of the originals cancelled by Netflix. Adetiba’s only surviving series from her deal is “To Kill A Monkey”, which may face limited global promotion due to budget cuts.
The Nigerian film industry’s biggest players are now back to competing at the local box office, where the glory is enticing but the financial rewards are uncertain
5 Major Business Headlines To Know
Here are the major news stories that made rounds last week.
305,000 ELJ Sold tickets so far:
Nigerian actress and producer Funke Akindele has achieved remarkable success with her latest film, selling over 305,000 tickets in just 31 days. This impressive feat positions her movie as the highest-grossing title of 2024 and potentially 2025.
The question on everyone’s mind:
Can any other A-list Nigerian celebrity replicate this success?
Is Funke Akindele’s bankable star power one-of-a-kind?
Will she be back with another blockbuster in 2025?
With numbers like these, exhibitors will undoubtedly be clamouring for her return!
Lisabi Returns, with a distribution twist:
The highly anticipated Lisabi Part 2, produced by Adedimeji Lateef and directed by Niyi Akinmolayan, is now streaming on Netflix – but only in select regions. In a surprising move, a sharing formula deal has been struck between the makers of the movie and Circuits TV, a relatively new pay-on-demand service, regarding the global rights to the series.
Interestingly, Lisabi was initially touted as a Netflix Global Original. However, Netflix’s decision to limit its release sparked an outcry among diaspora audiences who felt alienated. The new deal now makes the title accessible to these audiences, providing a much-needed solution.
This development not only expands the title’s reach but also highlights the importance of inclusivity and accessibility in content distribution.
1.5 Billion in the Bag:
According to a press release document, the N5 Billion Creative Fund, an initiative executed by the Office of the Vice President and managed by the Office of the Special Assistant to the President on Digital & Creative Economy, has approved N1.5 billion for four creatives: Titi Ogufere, Williams Uchemba, Obi Emelonye, and Richard Mofe-Damijo.
The approved funds will support various projects, including Titi Ogufere’s Design Week Lagos showcase, Williams Uchemba’s production of “The Good Gift”, and Obi Emelonye’s slate of titles.
Notably, three of the creatives have withdrawn their funds to execute their film projects, while Richard Mofe-Damijo has deferred his payment to 2025 for another project. This N1.5 billion is an industry loan, not a grant, and it will be interesting to track the development and distribution of these titles to see how they utilize the funds
RHOL & YFA 3rd season Returns This January
Two popular reality TV shows, “Rich, Famous and African” and “The Real Housewives of Lagos,” are set to premiere in January 2024 with new cast members.
“The Real Housewives of Lagos” Season 3: January 12, 2024
“Rich, Famous and African” Season 3: January 17, 2024
Commissioned by streaming platforms, these reality TV shows have grown significantly over their three seasons, building a massive fanbase and demonstrating potential in the reality franchise business.
“The Real Housewives of Lagos” welcomes three new cast members to its upcoming season. Nigerian actress Ini Edo will also make a special appearance in the new season of “Young, Famous & African. These tasteful additions are expected to create an interesting narrative and drama.
As the popularity of reality TV continues to soar, it’s clear that the appetite for reality TV in Africa is growing, and this genre may just become the new goldmine for content creators and streaming platforms
Most Watched on Netflix, Prime Naija and Showmax in 2024:
Flix Patrol’s 2024 report has shed some light on Nigeria’s streaming habits. On Netflix, the top movie title watched is “Afamefuna”, directed by Kayode Kasum, while the top TV series is “Supacell”.
Switching to Prime Video, BB Sasore’s “Breath of Life” takes the top spot for movies, and for TV series, it’s “The Lord of the Rings”. This data provides valuable insights into Nigerian audience preferences on these popular streaming platforms.
For Showmax, Exclusive data from the platform reveals that Wura is the most-watched streamed title in 2024
In a quick summary, Nollywood has taken up the top 3 spots for most-watched movies on Netflix. Additionally, 6 Nollywood titles have made it to the top 10 most-watched movies on Prime, a testament to the demand for Nigerian content.
Full data breakdown, coming soon only on SHOCK
What I am watching: “Ruthless” on Circuits
By The Numbers
The highest-grossing Nigerian titles revealed an interesting insight.
In 2024, Nollywood’s top 10 movies collectively grossed over ₦3.07 billion, a remarkable improvement compared to 2023’s ₦1.94 billion. Funke Akindele dominated the 2023 box office, contributing ₦1.03 billion to the total while contributing ₦1.12 billion in 2024 – Read Full Report Here
Reaction Lens:
Filmmaker biodun Stephen took to her IG to drop a spontaneous comment on the rate card of the YouTube actor. This quickly escalated to overreaction from different quarters.
See the link to tweet here and feel free to share your thoughts
Marketing ad of the Week:
I’ve chosen Taooma’s latest video as the best marketing video for last week!
The hilarious skit features her iconic character Quadri, alongside The King in Seven Doors.
With its creative and subtle approach, the video masterfully promotes the new series without feeling like a traditional ad. The numbers speak for themselves: the video has garnered 7.1 million views and 40,000 comments on Instagram alone.
Under The Radar:
The upcoming Showmax Original series “Under the Influence” has quietly slipped onto the radar, with its announcement flying under the radar. The show, directed by Wande Thomas, is set to debut on January 29th.
“Under the Influence” follows the story of Dami, a third-class fresh graduate played by Iremide Adeoye, who relocates to Lagos to live with his older brother Ayo, portrayed by Bobby Ekpe. As Dami navigates the challenges of city life, he finds solace in social media, where his rants about his frustrations go viral. Suddenly, he’s thrust into the spotlight, and must navigate the complexities of online fame, family dynamics, and his own identity.
Despite its low-key announcement, “Under the Influence” promises to deliver a compelling narrative that explores the realities of social media fame and content creation, resonating with African youths who are navigating the same challenges.
Africa in Focus:
Mati Diop’s documentary film “Dahomey” has taken a significant step towards Oscar glory, advancing to the top 10 voting round for Best International Feature. This achievement follows the film’s Golden Bear win at the 2024 Berlin International Film Festival.
The film’s success has also translated to international recognition, with Les Films du Losange handling international sales. Mubi has acquired rights for multiple territories, including North America, the UK & Ireland, Latin America, Germany, Austria, Switzerland, Italy, Turkey, and India, following a deal made during the Berlinale.
Business Trade Press:
India’s 2024 cinema report card shows a decline in Hindi cinema box office collections by 13% to ₹4,679 crore ($571 million) from ₹5,380 crore ($658 million) in 2023.
Regional films performed better, with Telugu films “Pushpa 2: The Rule” (December 2024) and “Kalki 2898 AD” earning ₹1,830 crore ($223 million) and ₹1,042-1,200 crore ($127-146 million), respectively.
Bollywood’s top stars struggled, with Akshay Kumar’s films earning only ₹130.62 crore ($16 million). The highest-grossing Hindi film was “Stree 2” (August 2024) with ₹874.58 crore ($107 million)
Next Week Anticipation:
The official trailer for February Romcom Nigerian titles and maybe a new runner?
Thanks For Reading!
Email me scoops at [email protected] or DM @shockng
