Actress Genevieve Nnaji becomes Nollywood’s first billionaire as Netflix buys Lion Heart for $3 million (N1,095,000,000).
The movie has got everyone excited, and so far it has brought the attention to Nigeria.
The transaction is an important breakthrough for Nollywood, which was recently named the world’s most prolific film industry by the International Federation of Film Producers’ Associations. It’s extensively known that when Netflix brands a movie as a Netflix Original, for example, it puts a lot more marketing behind it. This includes billboards and heavy promotion in the press.
Despite the fact that Lionheart 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.
Some Nollywood films currently showing on Netflix include The Wedding Party, Fifty, The Visit, When Love Happens, Road to Yesterday and Dearest Mummy.
However the exact figures haven’t been made public, streamingmedia.com (a leading authority on online video for entertainment) stated that Netflix might pay $3 million to own exclusive rights to a production.
“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 indie film can only see it on their platform. They’re award-eligible, that doesn’t always happen,” the website noted.
The beautiful actress, movie producer, and director seized the opportunity on Instagram to appreciate the support for Lion Heart.
Lion Heart movie is Genevieve Nnaji’s directorial debut. Stars like Phyno, Nkem Owoh, Peter Okoye(Psquare), Pete Edochie and Onyeka Onwenu featured in the acclaimed movie.