Film supply service iROKO and Nigerian - http://dailystar.ng/2013/11/10/segun-arinzes-ex-ann-njemanze-re-marries-wedding-photos/ online television on Monday announced $19 million worth of new deals, including with French giant Canal, to boost operations and take-up across Africa.
The deals for content development and capital backing come only weeks after US streaming giant Netflix enlarged to 190 nations, putting them in direct competition with the Lagos-based firm.
"We're taking Nollywood content to Africa," iROKO creator Jason Njoku told AFP in an e-mail, referring to Nigeria's domestic film industry.
"We've strategies to dub content into French, Swahili, Zulu -- so we'll stand apart from Netflix in terms of localisation of content. We are going narrow and deep into local content.
"However Netflix entering into the African market is truly Nigeria - http://dailystar.ng/2013/11/22/dating-empress-njamah-affected-life-negatively-timaya/ exciting, as it reveals the enormous potential of the market. For people, we are flattered to be mentioned in the same breath as them."
iROKO, whose operation was dubbed "the African Netflix", said in another statement it planned to make "at least 300 hours of original content in 2016, with the expectation of Nigeria - http://www.gospelherald.com/articles/53808/20141231/200-muslims-volunteer-to-protect-persecuted-christians-during-nigerian-christmas-service.htm doubling that by 2018".
Mobile phone use has exploded in the past few years in Africa and firms such as Njoku's have tapped in to increasing access to the internet through the popularity of the film industry in Nigeria - http://www.yohaig.ng/nigeria-news/premium-times/why-nigeria-should-transit-from-fossil-fuel-to-zero-carbon-economy-experts/ and also smartphones on the other side of the continent.
Nollywood is the world's second-largest film industry when it comes to generation, is estimated to employ some one million individuals and gives 1.2 percent of Nigeria - http://www.bellanaija.com 's GDP.
As portion of the new deal, the iROKO board is joined by Canal Overseas boss Jacques du Puy, the statement said.
The Paris-based firm's chief financial officer Fabrice Faux said the investment would lead to a "scale-up in French-speaking Africa, with clear ambitions as well as the means to reach them".