Showbiz

Coronavirus Could Wipe More Than $5bn in Film Revenue

Published

6 years ago

05/03/2020

By Adedapo Adesanya

With the global shipping industry facing a $1.7 billion loss on the heels of coronavirus, the global film industry could face a higher loss – as preventive measures such as avoiding public spaces may restrict releases and prevent people from visiting the cinemas.

Analysts believe COVID-19 could already result in a loss of at least $5 billion from weakened box office revenue and impacted production as scheduled releases are been pushed to a future date.

Reports show that movie theatres have been closed in China, where the disease originated for weeks and with recent spread into major film markets like Japan, the United States, South Korea, Italy, and other countries, they may be a similar reaction.

The $5 billion could grow if movie-going falters in other markets, such as Japan, which is the third biggest film market in the world, where schools are already closing down and in the US, where there have been 100 confirmed cases and more than 10 deaths so far.

According to a report by the Hollywood Reporter, China, which is the world’s second-largest market in terms of cinemas (70,000), remain closed amid the outbreak, and as both Hollywood and local studios have started pushing back releases, the impact are already been felt on the economy.

For instance, it was disclosed that ticket sales in the traditional Chinese New Year holiday period, from January 24 to February 2020, were as low as $4.2 million, compared with $1.76 billion over the same period in 2019.

In China’s Asian neighbour, South Korea, which is the world’s fifth largest movie market and with over 6,000 cases confirmed in a little over a month, revenue was down by 80 percent year-over-year.

It was gathered that revenue went down by 70 percent in February 2020 as ticket sales brought in $52 million from 7.3 million tickets compared to $185 million from 22.3 million tickets in February 2019.

It was revealed that in Italy, almost half of cinemas have been shut down since the virus, with over 3,000 cases and 107 deaths, has led governments to impose restrictions – that also affected its football league – in the northern part of the country.

As a result of this, revenue has fallen 44 percent in the first week of closure with total receipts down by 76 percent according to the country’s media authority.

With cases in Italy, the first in Europe, other countries like France have called for a temporary stop to all indoor events with more than 5,000 people in attendance, and Switzerland has banned gatherings of more than 1,000 people until 15 March. This may further contribute to plunge in global film revenue for the year.

Audiences in the Middle East are also reportedly staying away from cinemas following multiple confirmed cases of COVID-19 while Africa which hasn’t recorded a lot of cases and has not felt this.

On Wednesday, the BBC reported that the release of the new James Bond film: “No Time to Die” was pushed back by seven months as coronavirus continues to spread. It will now come out in the UK on November 12, and in the US on November 25.

Many other movies may follow as film companies have started cancelling events.

Showbiz

MTF’s Best Graduating Student Winner Achimugu Begins New York Film Academy NYFA Journey

Published

1 day ago

19/12/2025

Business Post Contributor

Winner Achimugu, the MultiChoice Talent Factory (MTF) Best Graduating Student 2024, has embarked on a six-week scholarship at the prestigious New York Film Academy (NYFA). This achievement not only celebrates her exceptional talent and dedication but also reinforces MTF’s commitment to nurturing world-class African filmmakers ready to make their mark on the global stage.

Since its inception, MTF has been more than just a training ground; it’s a launchpad for African storytellers. Alumni from the academy have consistently demonstrated excellence, with films and projects winning awards, receiving grants, and gaining international recognition. Notable projects include 2070, which clinched Best Short Film at the African SDGs Film Festival, and Isekonu, a Zee World short film, officially selected for the Lagos Fringe Festival 2025 and nominated for Best Student Film at the Bayelsa International Film Festival.

These achievements reflect MTF’s ethos of equipping young filmmakers with both the technical skills and creative vision necessary to succeed, both locally and internationally.

The 2024 Best Graduating Student, Winner Achimugu, distinguished herself among her peers with a combination of talent, dedication, and storytelling finesse. Her selection for the NYFA scholarship is a testament to her hard work and to the quality of mentorship and training at MTF.

Through this program, she will engage in intensive workshops, hands-on training, and industry exposure that promise to elevate her craft. The scholarship is not just an award, it is a bridge connecting African storytelling to global cinematic opportunities, embodying MTF’s brand promise of fostering talent that transcends borders.

This scholarship opens new avenues for growth, offering exposure to international techniques, networks, and collaborative experiences that could define the trajectory of her career. For MTF, it’s a validation of its mission: cultivating a generation of filmmakers whose creativity, vision, and impact will resonate far beyond Africa.

As this journey unfolds, it reinforces the message that African cinema is on the rise, powered by storytellers who are ready to take their place on the world stage. With MTF alumni leading the way, the future of African filmmaking looks brighter than ever.

Showbiz

Quickteller Celebrates African Creativity in Lagos With InsomniaQ

Published

4 days ago

16/12/2025

Modupe Gbadeyanka

By Modupe Gbadeyanka

A 12-hour non-stop entertainment event offering various performances and activities all night long will take place in Lagos from the evening of December 21 into the early hours of December 22, 2025.

This programme known as InsomniaQ, is being put together by one of Africa’s leading digital payments platforms, Quickteller.

Quickteller is a brand powered by the Interswitch Group, and InsomniaQ was created to celebrate African creativity.

The all-night music and entertainment experience will hold at the Ballroom of the Lagos Continental Hotel, Victoria Island.

It is designed to capture the vibrancy and cultural energy that define Lagos in December. InsomniaQ is positioned to become Africa’s newest must-attend December destination.

The concert blends diverse African soundscapes, creative expression, and immersive lifestyle experiences, offering a night curated for music lovers, diaspora returnees, cultural enthusiasts, and everyone drawn to the city’s festive season.

More than a concert, InsomniaQ represents a new cultural moment, one that celebrates the richness, depth, and diversity of African talent. With a lineup cutting across contemporary and alternative genres, the festival aims to introduce a bold, fresh, and unforgettable experience within Lagos’ already vibrant entertainment landscape.

“InsomniaQ is an invitation to celebrate African creativity in a way that feels bold, fresh, and true to who we are.

“Quickteller has always been an essential part of the experiences people value, and this festival brings that connection to life in an entirely new dimension.

“As Lagos welcomes friends, family, and visitors from around the world each December, we are proud to introduce a platform that showcases our music, our culture, and the vibrant energy that defines this season,” the Divisional Head of Growth Marketing for Quickteller Ecosystem at Interswitch, Mr Olawale Akanbi, noted.

Through Quickteller, Interswitch continues to champion initiatives that go beyond digital transactions to enrich the everyday life of millions of Nigerians.

InsomniaQ extends this mission by empowering cultural expression, unlocking creative opportunities, and supporting the continent’s growing entertainment ecosystem.

Showbiz

Oyindamola Timothy, Steve Adeyemo, Others Win Stanbic IBTC FUZE Talent Show 4.0

Published

5 days ago

15/12/2025

Modupe Gbadeyanka

By Modupe Gbadeyanka

The quartet of Oyindamola Timothy (Fashion), Steve Adeyemo (Tech), Uche Kalu (Dance), and Emmanuel Elijah (Music) emerged the category winners of the Stanbic IBTC FUZE Talent Show 4.0.

They received N10 million each for their efforts, along with mentorship opportunities, industry exposure, and support to advance their creative journeys.

The four were chosen from the 12 finalists at an event aired on Sunday, December 14, 2025, on AIT (DStv Channel 253) at 7:00 pm, Africa Magic Showcase (DStv Channel 151) at 5:00 pm, and streamed live on the official Stanbic IBTC YouTube channel, connecting millions of viewers to the excitement and energy of the show.

The 2025 edition drew over 6,000 entries nationwide and continued to inspire a new wave of innovation among young Nigerians in fashion, technology, dance, and music. The participants fought for a share of the N90 million in prizes put up by the organisers.

This year, the FUZE Talent Show also introduced an exciting new twist: The Fan Favourite Feature, which allowed viewers across the country to vote for the contestant who most inspired them. This addition deepened audience participation and further strengthened FUZE’s mission to connect creativity with community support.

“FUZE 4.0 truly lived up to its promise as The Ultimate Show, a platform that celebrates courage, creativity, and innovation.

“Every contestant who graced that stage reminded us of the extraordinary potential of Nigerian youths.

“At Stanbic IBTC, we are proud to continue creating opportunities that help young people dream bigger, think bolder, and achieve more. It is all about home-grown talent for us as we power the made-in-Nigeria initiative,” the chief executive of Stanbic IBTC Holdings Plc, Mr Chuma Nwokocha, said.

As excitement builds for FUZE Festival coming up on Saturday, December 20, 2025, attendees can anticipate experiencing this year’s edition theme The Ultimate Show in full, with circus-style attractions, from magicians and parade performers to flash mobs and art displays.

An expanded marketplace, freebies from participating partners and on-site Stanbic IBTC services will enhance convenience, while performances by Wande Coal, Pheelz, Chike, and Ms DSF will add a nostalgic, high-energy finish. Interested attendees can register to attend via the Stanbic IBTC Events App or visit www.events.stanbicibtc.com to secure their spot.