BrandArena: MTN, iRokotv targets N2tn from online streaming in Nigeria

Wednesday 14 October 2015

MTN, iRokotv targets N2tn from online streaming in Nigeria

Video on Demand platform, iROKOtv says it has a target to make about N2tn ($1bn) from online streaming in Nigeria by 2020.

The Chief Executive Officer of iROKOtv, Mr. Jason Njoku, said this, days after Ericsson’s Consumer Lab published its first-ever television and media report for Nigeria, which indicated that Nigerians spent about N54bn on VoD streaming between January and September 2015.

Perhaps because of the enormous opportunities in the market and the N2tn prospect in the VoD sector, telecommunications company, MTN long ago acquired AfriNolly and DoBox. Both (AfriNolly and DoBox) are said to pose stiff competition to iROKOtv.

The Public Relations and Protocol Manager, MTN Nigeria, Mr. Funso Aina, said, “The MTN DoBox and AfriNolly came as a game changer to the movie industry in Nigeria. Those who place premium value on watching movies on-the-go through the use of cutting-edge technology have been adopting it significantly since it was launched.”

However, Njoku said the iROKOtv’s vision was to have one million subscribers in the country by 2020, saying, “If we can reach that number, then iROKO will be a billion-dollar company. We simply target $1bn (N2tn). That is what I believe Nollywood, Nigeria and West Africa deserve.”

He added, “As a billion-dollar media and technology company, we curate and export Nigerian culture globally. The industry now needs us as much as we need them.”

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