The Nigerian creative industry is not immune from the current challenges businesses are facing due to the persisting impact of COVID-19 across the globe. But amid these challenges, experts say the industry can leverage technology, collaboration and innovation to stay strong and relevant during and after the pandemic.
The experts, who spoke at the latest BusinessDay Digital Dialogue Series on Friday, said with the lockdown, ban on public gathering, social distancing and other measures aimed at combating the pandemic, the sector has witnessed an unprecedented setback.
From the closure of theatres, nightclubs and cinemas, no shootings of films, no public concerts, no art exhibitions, no live music shows and other entertainment offerings, the sector has recorded huge losses. This situation has made technology, innovation and collaboration among players in the industry very imperative in order to stay afloat during the lull in business occasioned by the pandemic as well as the projected economic downturn after the virus is curtailed, they said.
The experts agreed that online, especially streaming content, presents veritable platform for the industry to stay afloat in business now and in future.
“There is a growing culture for streaming movies and whether we like it or not, streaming will hit the market soon,” said Chioma Ude, founder, African International Film Festival (AFRIF), said at the digital dialogue series themed ‘COVID-19 and the Creative Industry: The Impact, Innovation & Planning for Post Crisis’.
Streaming services accounted for nearly 80 percent of all music revenues in 2019, amid an impressive boost in movie earnings globally.
Moreover, the last 10 years have ushered in a rapid progression of at-home entertainment as Netflix, Hulu, Disney Plus, HBO Now, and others rack up millions of subscribers. As more people are forced to stay at home to try to curb the spread of COVID-19, the experts believe that the concept of a bored and cable-cutting consumer searching for things to constantly watch for weeks on end has become a reality.
Ude said stakeholders in the industry should start thinking of the bigger picture and seeing things differently by being innovative.
“The information technology and creative industry will thrive in this COVID-19 leveraging streaming and other online business options,” she said.
Omoyemi Akerele, founder and executive director, Style House Files, said the industry players need to find answers to questions on how to create collaborations that would strengthen the industry. To create a future beyond the runaway, protect and empower young entrepreneurs, she insisted that the industry must find innovative platforms to do business, especially in the face of the pandemic.
Obi Asika, founder, Dragon Africa, affirmed that business in the creative industry has migrated to online platforms.
“COVID-19 has affected the music industry and live sport matches. For artistes, live music concerts are the main source of revenue and it may take a long time for things to get back to normal,” Asika said. “That is why it is important for us to use technology and look at domestic opportunities. Let us invest in our talents, content and scale.”
Also speaking at the online event, Ugoma Adegoke, director and curator, Bloom Art, urged the industry to focus on the social effect of COVID-19, saying digital would play a complementary and assisting role to art.
“The future is bright for the digital art space. I do not think the virus will affect it,” she said.
The African music market is exploding as streaming services become more accessible to a growing youth audience. Chinese Boomplay leads the streaming business with 36 million subscribers in Africa in 2018 and adds 2 million new ones almost every month amid competition from Swedish Spotify and American Apple Music.
But Patrick Lee, chairman, Cinema Exhibitors Association of Nigeria (CEAN), said it is difficult to stream movie on demand as there is the uncertainty of whether it is a profitable business or not. “We don’t know if streaming is a profitable business or not. Nigeria has not developed the level of infrastructure and customer base in terms of streaming. But for cinemas, we believe that we still have the platform that is profitable for businesses when they release their movies,” Lee said.
No doubt, the creative industry is the fastest growing sector of the Nigerian economy in terms of business opportunities, employment generation, earnings, as well as entertainment.
Earlier this year, Lai Muhammed, minister of information and culture, said Nigeria has become the power-house of African creative industry with the film industry being one of the main outputs. He said the industry is considered as a veritable platform for the propagation of cultural values, development initiatives and aspirations.
& BUNMI BAILEY
