Chairman of Google, Eric Schmidt was at the Lagos Mainframe Studios of accomplished Nigerian filmmaker Tunde Kelani last week where both addressed the challenges of the Nigerian film industry. It was during Schmidt's visit to Lagos to meet with Mr. Babatunde Raji Fashola, the executive governor Lagos State, the commercial capital of Nigeria and the biggest megacity in sub-Saharan Africa. Nigeria's Iroko TV is the biggest partner of Google's YouTube in Africa and the world’s largest digital distributor of African movies and ranked among the top ten most innovative companies in Africa by Forbes magazine. YouTube and Iroko TV are making millions of dollars from Nollywood, Nigeria's fast developing film industry.
“Nollywood lovers around the world can watch the latest Nigerian movies by paying a fee of only $5 a month. Iroko TV typically buys the digital rights to the movies from producers and currently has a catalogue of over 5,000 films and over 500,000 registered users,” reported Forbes.
Iroko TV had over 152 million views in 2011 with over 3 million unique visitors from 178 countries spending on average 5 - 6 hours monthly.