COVID19- Nigerian Film Industry Impacts and Business Continuity Measures

ELM

The 2020 revenue for the Nigerian Film Industry (“NFI”) was projected at USD1 billion. The Nigerian Box Office (“NBO”), which is an important part of the NFI, was expected to improve on its 2019 stellar performance and rise by about 10% from its 2019 performance to take its revenue to the region of USD35 million 2020.

COVID-19 has, no doubt, distorted the NFI 2020 revenue projection beginning with an unprecedented disruption of the global films calendar, which is expected to reverberate for a long time, and perhaps, in ways not yet conceived.

The first part of this newsletter highlights the effects of COVID-19 on the NFI whilst we proffer, in the latter part of our discourse, possible business alternatives and answers to arising legal issues in the NFI.

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