Business Models of Film Streaming Platforms in Nigeria

www.doi.org/10.36349/olijhe.2024.v.01i01.003

Abstract

Streaming platforms are evolving business models geared towards meeting the needs and preferences of their audiences. The study seeks to understand what constitutes the business model and professional practices of streaming platforms and the attendant views of critical stakeholders in Nigeria. Based on the Diffusion of Innovation Theory, the paper adopts a mixed method approach, using critical analysis of case studies of selected major streaming platforms, key informant interviews with gateway and creative boundary spanners, and secondary sources. 
The study reveals that the power in the distribution system of Nollywood has shifted from VCD/DVD marketing to streaming services through Over-the-Top (OTT) platforms especially foreign-based, that operate a monetised Subscription Video on Demand (SVOD) and Transaction Video on Demand (TVOD) models. In contrast, most locally based streaming providers aside from iROKOtv, Ibakatv, and a few others operate on the YouTube platform and are advert-based with no monetised model known as Advertising-Based Video on Demand (AVOD). The study also established that issues relating to contracts and agreements between streaming platforms and content creators in Nollywood call for attention in addition to other findings. The study concludes that streaming platforms play critical roles in the film industry value chain, but the potential for undue exploitation of the industry by streamers must be taken seriously. The paper recommends policies from both the government and streamers that protect the rights of content creators and discourage unethical business practices on the part of film streaming platforms.