Some Nollywood heavyweights have reacted to the recently released National Broadcasting Commission (NBC) 6th Broadcast Code which takes away their exclusive right to content they created.
The new code makes exclusivity illegal, compels content sub-licensing and aims to regulate the prices at which content is sub-licensed whether or not they recoup their investment.
However some investors and content streaming service providers which include Netflix, Amazon, iROKOtv and Africa Magic see it as a huge threat to their investment as it erodes the possibility of reaping dividends on their investments.
An industry source told Vanguard; “These sections prohibit broadcasters from entering into rights acquisition agreements that do not allow the sub-licensing of such rights in Nigeria.
The implication is that any such agreement entered into is void.” Another insider who reacted to the new NBC code said sub-licensing will inhibit investments, especially by foreigners in the content creation and broadcasting industry.
“I wasn’t surprised to learn that Netflix and Amazon are fretting. They should fret because they have invested heavily in the acquisition of Nigerian content.
“They are yet to recoup their investments, but you’re saying they must sell to competitors.
Do you think other investors will be encouraged to come and invest? No.
“AfricaMagic has spent tonnes of money buying and creating local content. They are right to panic. So is Irokotv.”
A former content producer told the publication that NBC is seeking to turn private enterprise into state property and be the one to determine the scale of dividends an investor should reap on his investment.
Also reacting to this in an Instalive conversation, Ruth Kadiri stated that this will have an adverse effect on actors as many will be forced out of jobs and might be underpaid.
Mary Remmy Njoku, the Director General of ROK Studios stated that though the NBC claimed it is trying to protect local broadcasters, the new policy takes away their negotiating power as the agency seeks to be one to negotiate how much they will sell their content even if they are losing money.
Uche Jombo on her own part accused the agency of trying to make things harder for them even though they’ve not created the enabling environment for the entertainment industry to thrive.
She also expressed fear of the new policy hindering growth of the Nigerian movie industry.
Jason Chukwuma Njoku, the co-founder and CEO of iROKOtv stated the policy is implemented it will totally destroy PayTV in Nigeria.
Nigeria Broadcasting Commission (NBC) In making exclusivity illegal, compelling sub-licensing of content & regulating price, are effectively turning private enterprise into state property.
Interference Distorts Markets. If implemented this 100% destroys PayTV in Nigeria Under these proposed terms it makes zero sense for @irokotv @ROK_DSTV @NetflixNaija @irokotv @africamagictv @FilmhouseCinema @SilverbirdTV @SceneoneTV or any other platform or independent production house to invest in local content.
Zero sense. No consultation no thought. Nothing This our champagne socialism & zero input style of policy making is the reason Nigeria is stunted in everything.
I invest billions Naira in content then I am compelled to share with everyone else as NBC sets the price Why? Dark forces or incompetence is at play here.
Ridiculous For ‘national emergencies’ 20% of broadcast hours should be dedicated to well. The government.
Nationalization in everything but name. So if @Tyson_Fury vs @anthonyfjoshua fight is to be shown in Nigeria. Equivalent of 30% of the license costs need to be invested in an equivalent local sport? Who will pay for that? Maybe ABC vs XYZ works for some but who will pay for it? Arise o compatriots, Nigeria call obey This is for you Nigeria and Nigerians. This is the patriotism you voted for.
Anything you ‘enjoy’ you just now pay more for it. You think 15% inflation is high.
Wait o. Soon CNN will leave it’s daily programming to show Arrival of Orji Kalu and APC and PDP conventions. Essentially be ready for NTA everywhere. This is a highest priority for NBC. HIGHEST.