By Dipo Olowookere
Popular French media company, Canal+ Group, has acquired a leading Nigerian film production firm, ROK Film Studios owned by Iroko TV. Iroko TV is owned by Mr Jason Njoku, while the ROK Film Studios is managed by his actress wife, Mrs Mary Njoku.
A statement issued on Monday said Canal+ is working with ROK for the production of Nigerian movies to be used on the French platform’s dedicated channel for Nigerian contents, Nollywood TV.
Canal+ runs a Nollywood TV channel, where its subscribers in French-speaking African countries watch Nigerian movies, which are very popular on the continent.
Worried by the rate the likes of Netflix, Amazon and others are buying up exclusive Nollywood contents and expanding their presence in the Africa’s largest market, Canal+ quickly made a move to acquire ROK to have to itself a large number of films it can show to its subscribers, who have been shifting attention to other competitors.
ROK, launched in 2013, is Nigeria’s largest production house with more than 500 movies and 25 TV shows. It currently produces Ghanaian and Nigerian movies, reaching 15 million subscribers across DSTV and GOTV platforms.
Canal+, while commenting on the development, stated that, “This acquisition represents a key stage in Canal + group’s international expansion. It allows the group to be present across the entire Nollywood value chain, and acquire unique expertise in the mass production of African fiction — films, series, and entertainment.”
Business Post Contributor