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Global cash crunch hits Nollywood

Discussion in 'FILMMAKING, INDUSTRY, TECHNOLOGY' started by Simisola, Nov 23, 2008.

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  1. Simisola

    Simisola Well-Known Member

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    •The Ghanaian connection
    •Rise and rise of Yoruba film industry
    By SAMUEL OLATUNJI
    Sunday, November 23, 2008


    Though it is cheery news that the cash crunch invading the world like the biblical plague in the time of Moses is showing signs of subsiding, the effect of the global cash crunch has, however, changed the power equation and landscape of the Nigerian movie industry otherwise known as Nollywood.

    In Nollywood, money is everything just like in any other show business. Nigerian marketers hold the ace because they fund most movie projects. Long before the global cash crunch became pronounced, Nollywood has been experiencing it own kind of cash crunch. Money has been scarce. And that is why it is real hard today to find a blockbuster movie featuring as many as four to five A-list artists in Nigeria.

    ‘Anyone who tries that will go bankrupt’ a movie producer said when we sought his opinion. “If you pay about five A-list acts between N800 000 to N1 million and you still have many other expenses to look at, how do you want the producer to make his money back? If you try that, you will go bankrupt. In fact, I’m sure no one is trying that now.”

    For instance, the lavish luxury of having for instance Omotola, Genevieve, Emeka Ike, Ramsey Nouah and the likes in your movie is gone. The reason for the change in equation is simple: investors, especially marketers, are no longer making their money back. And these set of actors are among the highest paid in the market.

    Even banks and other corporate bodies that show some interest in investing into the burgeoning industry are fast becoming disinterested. Reason? This is not the time to invest into something that won’t yield desired returns or the invested capital.
    So in the wake of this financial crisis in Nollywood, everybody is now looking for alternatives and Ghanaians are now the emerging new faces in Nollywood. They serve as ‘perfect’ alternatives to core investors.

    Investors in Nollywood are now becoming shrewd with their investment and are always looking for avenues to cushing the effect of the global financial turmoil hence the ‘invasion of Nollywood’ by the Ghanaian element.
    Investors practically beg them to come on board and rescue the tight financial situation in the industry. How? By using the Ghanaians, more Nollywood movies will penetrate the emerging Ghanaian market. That is why the likes of Mojid, Nadia Bhuari, Jackie Appiah, and Van Vikers are taking the front burners, even ahead of Nollywood’s more talented acts.

    Another alternative the investors are exploring is that of ‘emerging new talents.’ The reason many new acts are fast emerging on the Nigeria movie scene is not because of the magnanimous nature of the practitioners, but they came as children of necessity. That is also the reason why many of them disappear as they come.

    Nollywood investors realize that it pays more to make use of the Ghanaians and new acts that take lesser money, compared to the established acts like Nkem Owoh and co.
    As of now, Nollywood is groping in darkness awaiting new direction. That is the main reason many look unto the new framework from NFVCB, hoping the policy would emerge the long awaited saviour.
    But many onlookers are unfazed by the new fad. ‘This is Nollywood for you. It will soon pass like many of its past fads. Mark my word; many of these so-called Ghana stars and new stars will soon fade away.

    They came in as children of necessity and they will go when the condition becomes normal’, one producer told us. Perhaps that explains the real reason many new local acts fade as soon as they come.
    In the wake of this development, consumers are increasingly looking for better ways to be entertained. Attention has shifted to Yoruba movies (indigenous language movie). Yoruba movie industry that has been in the shadow of English movie is fast catching up and gaining unprecedented prominence, especially in the market place as against its English counterparts.

    Home video consumers, having grown tired of the low quality products of English movies occasioned by the ‘undercut’ many engage in because of cash crunch, are fasting turning to alternatives as well. Their alternatives are foreign and Yoruba movies which is spreading its tentacles all over the world. Yoruba movies are like hot cakes now. Many of the producers are taking this opportunity to churn out more movies. The likes of Funke Akindele and Saheed Balogun are leading the pack. The irony is that the more movies they release, the more they sell. This is a far cry from what is happening in the English sector.
    Will this power equation last? We have our doubt; Nollywood is like Charly Boy Show anything can happen!



    The Sun News On-line| Showpiece



    What??? This guy must still be living inside a cave somewhere o. Who told him that? :confused:
     
  2. moviewizard

    moviewizard Well-Known Member

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    Some of these stuffs should be taken with a pinch of salt. I know some peeps would jump into conclusion almost immediately.
     
  3. Thickmadam

    Thickmadam OHHHHHH YEAHHHHHHHH!!

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    before this turns into something else, let me quickly say this.
    samuel olatunji got me again, i read this article before i realized it was written by him.
    this man has specialized in not only sexually harrassing his female interviewees, he has now taken to this type of reporting, pitting ghanaian actors against nigerian ones, albeit subtly. and thus sparking heated discussions between fans of both industries.

    i will now make sure to find the name of every interviewer before i read any other article on this site.
     
  4. takestyle

    takestyle Well-Known Member

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    i didn't want to be the one to say it... i read the article about halfway through, then looked up at the by-line and then i went back and read it again with a small smidgen of sodium chloride.

    i'm sure there IS a kernel of truth somewhere in there, but it's very hard for me to take seriously a journalist whose reputation rests chiefly upon sexually harassing actresses.

    i mean, for God's sake... even the very first line of the article is a totally inaccurate statement: the world cash crunch is subsiding? for REAL?

    (i just noticed that Simi already commented on that foolishness)
     
  5. peculiar

    peculiar Well-Known Member

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    :roll @ Sodium Chloride! :lol
     
  6. Thickmadam

    Thickmadam OHHHHHH YEAHHHHHHHH!!

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    exactly.
    seems to me he takes half a kernel of truth and then spins a whole oak tree of crap out of it.

    i'm fading out of here before it turns into something else.
     
  7. Meddeen250

    Meddeen250 Humanitarian

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    Wait, you haven't given your opinion on his latest interview. I was eagerly awaiting your response.:roll:roll
    http://www.naijarules.com/vb/stars-.../30922-why-i-m-still-single-ronnie-dikko.html
     
  8. takestyle

    takestyle Well-Known Member

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    what frustrates me about Olatunji's writing above all else is that he routinely produces articles that are full of quotes and not ONE single source!

    like i've said, i know that it's often difficult to get people in Nigeria to go on the record, but one of the fundamental rules of journalism is that you have got to be able to credit at least ONE source. even if maybe one person offers up a quote that is just too good to pass up but only on the condition that their name is withheld. at times like that, yeah... you can offer up an anonymous comment, but you've got to otherwise balance it out with about two other quotes that can be attributed to someone, or it's not publishable.

    presenting an article that is from beginning to end unsourced quotes? that's not journalism... it's gossip.

    and knowing what i know about the upholding of ethics in the Nigerian newsroom, i can tell you that is also very often fiction.

    *shrug* i dunno, though...
     
  9. Thickmadam

    Thickmadam OHHHHHH YEAHHHHHHHH!!

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  10. Thickmadam

    Thickmadam OHHHHHH YEAHHHHHHHH!!

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    um..take your own advice, take his articles with a grain of NaCl (i hope i have done my chemistry teacher proud), otherwise you will be frustrated (uh oh, that word again :1087: )
     
  11. Meddeen250

    Meddeen250 Humanitarian

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    My mind went straight to you when I first read the interview.:roll
     
  12. paj

    paj D JENGBORAN OF YORUBALAND

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    ...shattap!Na HOME ECONOMICS :knuck...like Abiriba Govt College get Chemistry Lab...:imp
     
  13. chi

    chi I am blessed

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    chai ... this is pitiful......:laugh:..... who has done this to...some of the yorubas......e no go better for whoever laid this lunacy on them.......:excite:

    ahh.....ok... it time for those in the grave to arise ... the stage is set ...........ngwa .... defenders carry on ....:roll:
     
  14. chi

    chi I am blessed

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    like you , i read only two lines , checked the name of the reporter ........and i knew it was going be another baloney
     
  15. takestyle

    takestyle Well-Known Member

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    hmmmm! Chi, you are looking for trouble o! violent-s:
     
  16. Meddeen250

    Meddeen250 Humanitarian

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    :roll
     
  17. Meddeen250

    Meddeen250 Humanitarian

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    Conclusion, dude makes up his own quotes.
     
  18. Meddeen250

    Meddeen250 Humanitarian

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    And the defenders will be here ASAP. Pity I will be busy tomorrow.sweat:
     
  19. takestyle

    takestyle Well-Known Member

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    Meddeen, i am about 85% sure that he makes stuff up.

    the kind of wording he uses betrays him, because all his quotes tend to have the same "voice."
     
  20. Meddeen250

    Meddeen250 Humanitarian

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    I believe he should stick to doing what he does best, sexually harassing Nollywood stars. The dude has the special skills and knowledge relevant to that department.:D
     
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