Genevieve Nnaji who is known to be a producer and director has been confirmed to be Nollywood’s first billionaire as has sold her recently released movie “Lionheart” to movie site, Netflix at N1,385,100,000($3.8 million).
“Thank you, everyone, for accepting @lionheartthemovie into your homes and your hearts. Worldwide. This is how we change the narrative. together.
Let us continue to bridge the gap.”
Genevieve’s movie was initially not accepted in cinemas due to alleged industry controversies.
Statement from the ‘Lion Heart’s team alleged that the “powers that be” (distribution companies) have refused to show the movie in their cinemas.
The statement further alleged that one of the major distributors, who had agreed to show the movie, backed out of the deal after being “arm-twisted”..
Statement from the ‘Lion Heart’s team alleged that the “powers that be” (distribution companies) have refused to show the movie in their cinemas.
Media outlets and social media platforms quickly dubbed Nnaji Nollywood's "first billionaire" in Naira terms based on the sheer gross value of the multi-million dollar buyout.
The Financial Reality: While the transaction generated massive revenue, industry analysts noted that production budgets, distributor shares, and taxes meant the total sale figure was not solely personal profit. Nonetheless, Nnaji’s broader portfolio—spanning high-end endorsement deals, property investments, her clothing brand St. Genevieve, and film production—firmly establishes her as one of the wealthiest and most influential figures in African entertainment.
No comments:
Post a Comment