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Nascent startups getting introduced too early to competition will feel strained, but the right attitude and a consolidation of strategy can have those businesses leveraging on their heavyweight rivals.
Canal+ and Irokotv reckon they can reach a whole new audience to the 250 million who reside in Francophone Africa.
French media giant CANAL+, and existing investor Kinnevik AB are the participant’s in the series E round of funding.
Unless Netflix plans to focus on streaming Nollywood content – which is unlikely – iROKO doesn’t have much to worry about.
A lesser percentage of Nigerian consumers’ expenses on TV and media entertainment now goes into buying pirated materials as reasonably-priced VOD and pay TV services become available in the country.