IROKO Partners, an online media distribution company focused on the Nigerian Entertainment Industry an led by its co-founders Jason Njoku (CEO) and Bastian Gotter along with major investor Nazar Yasin launches a MCN (Multi-Channel Network) like CDBaby, or Tunecore that extends their artist support to production (instead of just distribution).
IrokoX will give artists production assistance, studio resources, and the opportunity to show their work on Youtube, iTunes, and other global platforms. All the “production” will be done in ROK Studios (Lagos), and Iroko’s offices in New York and London. The (selected) creators will be able to use the infrastructure for free, and Iroko will apply the big D (Distribution), generate ad revenue, sell the content on platforms like iTunes and Spotify and give 80% of it to the creators.
The team will provide services such as content production & promotion, programming and branded sponsorship campaigns, existing media channel management and global content distribution. Africa’s digital content creators – filmmakers, musicians, and other creative aspirants – will be able touse IrokoX to produce, distribute and monetize new and original short-form video content (3 – 5 minutes).
“It will operate on an 80/20 split revenue share model for the majority of users—the artists get 80 percent,”saidOluchi Enuha, IrokoX General Manager. He added,
“We are going after something akin to a Maker Studios, whereby Africa’s professional and semi-professional creators can produce quality digital content, market it, share it with larger audiences, and get paid.”Content creators will also have their creative works featured and promoted on Iroko’s global partner networks such as YouTube, iTunes, and Google Play.
“Creation. Distribution. Monetization; this is what IrokoX is setting out to provide for our continent’s creative pioneers, in order to capture and lead the fast-paced social media and online video market for the continent. Africa is brimming with creative talent, much of which is stifled by poor access to production facilities, or poor understanding of how to monetize content. With IrokoX’s considerable expertise in these areas, we are ideally positioned to support and develop thousands of amazing African and Africa-inspired content creators,” Enuha said.
The company is globally the largest licensor and the leading distributor of Nollywood movies (both Englishand Yoruba) online. Tiger Global, a hedge fund run by an early investor in Facebook and Zynga, has invested $8 million into the company. iROKO Partners is now the fastest-growing internet company in Nigeria and is currently YouTube’s biggest African partner with distribution deals with Dailymotion, iTunes,Amazon and Vimeo.