iROKO: Why Netflix may have to chill Africa ambitions
Photos: Netflix vs African Netflix
Jason Njoku, 35, founder and CEO of iROKO, the most popular video streaming platform in Africa.
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Photos: Netflix vs African Netflix
Video editing in Lagos. iROKO employs over 100 staff in the Nigerian capital, London, and New York.
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iROKO boasts the largest collection of "Nollywood" content - Nigeria's thriving film industry, which produces 50 movies a week. Njoku secured the rights to many of these personally by tracking the producers.
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Following the announcement of $19 million of new funding, iROKO will scale up original content production - such as its glossy series "Husbands of Lagos."
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The company will also transition to a mobile rather than desktop service. Nigeria has the highest proportion of mobile Internet use in the world.
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Netflix hope that its own popular series such as "Beasts of no Nation" will help to build an audience in Africa, but Njoku believes the streaming giant will be hamstrung by slow connectivity and affordability.
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