As Sources Insist That Jeff Koinange Has Landed a Multi-Million Dollar Movie Project In Nollywood
According to a report that a Hala Gorani and Jeff Koinange filed for CNN, the Nigerian movie industry, popularly referred to as Nollywood is currently churning out 200 home videos daily which firmly outs it at number 3 after Bollywood (India), and Hollywood (USA).
A combination of factors have worked to the huge advantage of the Nigeria movie industry and already it seems that getting outlets for the movies will not be a problem for the next 10 years at least.
In the early days, the industry was badly hit by piracy problems that greatly shrunk revenues. Apparently a whole parallel pirating industry that just sat and waited for the hard work to be done and for the movies to be churned out, only for them to copy and distribute, grew alongside the then fledging industry.
This was one of the reasons why the practice of producing a single movie with almost endless sequels emerged. The smart movie producers produced the first sequel which was widely distributed by pirates thus creating a huge demand for the sequels which the movie making company would then carefully control and earn their revenue from the sequels.
The emergence of pay TV on the continent with companies like South Africa's DSTV has created a new almost insatiable market for African movies.
Incidentally rumours have persisted over the last few days that former CNN correspondent Jeff Koinange has recently landed a multi-million dollar contract in Nollywood. My information has it that our own PKW (Proud Kikuyu Woman) could shed light on this and tell us how true it is.
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