Genevieve Nnaji officially becomes Nollywood’s first billionaire
Popular Nigerian movie star, Genevieve Nnaji, has been declared Nollywood’s first billionaire.
She earned this title as Netflix bought her Lion Heart movie for $3 million (N1,095,000,000).
The movie which now belongs to Netflix has everyone buzzing, and so far it has brought the spotlight to Nigeria.
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Genevieve took to her Instagram to thank her supporters for making Lion Heart a success.
She wrote: “genevievennaji: “Thank you everyone for accepting @lionheartthemovie into your homes and your hearts. Worldwide. ❤️ This is how we change the narrative. Together. Let us continue to bridge the gap. ”
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The deal is a significant milestone for Nollywood, which was recently named the world’s most prolific film industry by the International Federation of Film Producers’ Associations.
This was sighted by YEN.com.gh in a Ghanaweb.com’s report.
It is widely known that when Netflix brands a movie as a Netflix Original, it puts a lot more marketing behind it which includes billboards and heavy promotion in the press
While Lion Heart is not the only Nigerian movie listed on Netflix, it is the first original Nollywood film to be bought by the American movie streaming platform.
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Some Nollywood films currently showing on Netflix include The Wedding Party, Fifty, The Visit, When Love Happens, Road to Yesterday and Dearest Mummy.
“Deals vary, but in general, Netflix pays two-thirds more than studios. One reason Netflix and Amazon are willing to pay more is that they often want exclusive rights in perpetuity. They want worldwide distribution so movie lovers who hear about a certain film can only see it on their platform,” Netflix website noted.
Lion Heart movie is Genevieve Nnaji’s directorial debut which featured stars including Phyno, Nkem Owoh, Peter Okoye (Psquare), Pete Edochie and Onyeka Onwenu featured in the acclaimed movie.
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Meanwhile in Ghana, the CEO of embattled Menzgold Company Limited, Nana Appiah Mensah, has been declared wanted by INTERPOL for some charges leveled against him.
Nana Appiah has been charged with defrauding under false pretenses following his company’s inability to pay back funds to investors after it was shut down by BoG and SEC.
YEN.com.gh has also published a video of Nana Appiah’s mansion and expensive cars.
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Source: YEN.com.gh
