Prince Jide Kosoko, Femi Adebayo, and Adebayo Salami are some of the dignitaries that led film stars to the 2024 Business Conference by the Association of Movie Content Owners and Producers/Distributors of Nigeria, AMCOD.
The event, which was held at the Central Business District, Alausa, Ikeja, was in partnership with the Lagos State Film and Video Censors Board with the theme, Sustainability of movie production and distribution in the digital era.
The event had the national chairman of AMCOD. Alhaji Toyin Uthman opened the conference with his welcome speech that dwelled on film production in a digital era as well as its challenges.
Also speaking at the event was the Executive Director of the National Film and Video Censors Board, Dr Shaibu Husseini.
Dr Husseini, in his keynote address, expressed that in the digital era, the lines between production, distribution, and consumption have become increasingly blurred. He also highlighted innovation, collaboration and regulation as the key to achieve the desired aim of the theme.
“In this digital era, the lines between production, distribution, and consumption have become increasingly blurred. The rise of streaming platforms, social media, and other digital channels has changed the way we create, distribute, and engage with movie content. Therefore, as we navigate this complex and rapidly evolving landscape, it is essential that we come together to share knowledge, experiences, and insights. We must explore innovative strategies, models, and technologies that can ensure the sustainability of our industry.
“Sustainability in the Nigerian movie industry requires a multifaceted approach, incorporating innovative distribution strategies, collaborative production models, and adaptive business practices. To achieve sustainability, we must focus on three key areas: innovation, collaboration, and regulation.
“Firstly, innovation is critical to sustainability. No doubt, digital technologies have transformed the Nigerian movie industry, enabling faster, cheaper, and more efficient distribution of content. Online platforms such as YouTube, Netflix, and IrokoTV have increased access to Nigerian films globally. However, the rise of digital distribution has also created new challenges, including but not limited to Piracy and copyright infringement, competition for attention and audience share, and pressure to produce high-quality, engaging content. But We must embrace new technologies, platforms, and business models that can help us reach new audiences, reduce costs, and increase revenue in spite of the glaring challenges that digital technology poses. There are opportunities that digital technology has opened up for movie production, marketing and distribution. We all know how streaming platforms, social media, and mobile devices have opened up new opportunities for movie distribution and marketing. (Netflix and Circuit).
“Secondly, collaboration is essential to sustainability. We must work together as an industry to share knowledge, resources, and expertise. This can include collaborations between producers, distributors, exhibitors, and other stakeholders to develop new business models, promote Nigerian content, and advocate for industry-friendly policies.
“Thirdly, regulation is necessary to ensure sustainability. We need effective regulations and policies that can protect intellectual property rights, prevent piracy, and promote fair competition. This can include regulations on content classification, distribution, and exhibition, as well as policies to support local content production and distribution.”
Also in attendance are Tade Ogidan, Teco Benson, Chief Olurotimi Aina Kusoro, Bolaji Amusan, Theo Akatugba, Ambassador Blessing Ebiegeson, Fidelis Duker, Adebayo Tijani, Antar Laniyan, Abdulrasaq Abdullahi, Barrister Bukola Agbaminoja, and Allwell Ademola.
