Estimated reading time: 5 minute(s)
Official Convention of The National Association of Theatre Owners (NATO), otherwise called CinemaCon, has honoured the Nigerian movie industry with the Emerging Market Award.
Sponsored by ComScore, an American media measurement and analytics company, the recognition came to Nollywood, as movie theatre owners gathered at the Ceasars Palace, Las Vegas, U.S.A. from April 1 to April 4, 2019.
The award was received by the Nigerian delegation at the event, including members of Cinema Exhibitors Association of Nigeria (CEAN)’s Kene Okwuosa, CEO of Filmhouse Group; Moses Babatope, MD of FilmOne Production and Distribution; Jonathan Murray Bruce, Executive Director of Silverbird Group; Isabella Okechukwu, Business Manager at Silverbird Cinemas; and Executive Director of National Film and Video Censors Board (NFVCB), Mr. Adedayo Thomas.
Pundits say this award comes as no surprise, as the 2010s spelled growth for the cinema culture with various cinema brands popping up to create competition in the space for already established players.
In 2013, the country’s cinema business recorded revenues in the amount of N1.72trillion, with the industry valued at N853.9billion (third in the world after the United States and India).
As Nollywood, said to contribute 1.4% to Nigeria’s economy continues to attract foreign interest, including the move by Netflix to invest billions of dollars into the industry over the next five years, the Emerging Market Award can only be timely.
Okwuosa and Babatope have expressed their gratitude to be selected as industry leaders to receive the CinemaCon award on behalf of the Nigerian film industry.