Bad time for Yoruba Movie Marketers during this lockdown as thr market face series of crisis.
According to the report from Yoruba movie:
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“it seems that the era of home video will soon come to an end as the Association of the Yoruba Movie Marketers has hit hard time. A few years ago, precisely in August 2014, the Yoruba Video Film Producers/Marketers Association of Nigeria (YOVIFPMAN) now known as (AMCOD) relocated the film market from Idumota to the International Standard market of The Arena
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Shopping Complex at Oshodi in Lagos.
Since the inception of Nollywood, Idumota has been the number one movie market in Nigeria, and the main motive behind the decision to move to Oshodi was to enable them battle the dreadful and deadly piracy which seems to be the biggest threat not just to Yoruba movie industry alone but Nigeria entertainment world as a whole.
Then, the report was that the marketers are no longer making sales after release of movies, and away from that, the unsold ones popularly known as portal which is sold for #100 weeks after its release are no longer selling as well and the reason behind it was as a result of piracy.
Immediately the movies are released on Monday morning which will be sold for #200 inside Arena, the pirated copies will also come out in the afternoon where 18 newly released movies will be packed in one CD for just #100.
Psychologically, it is cheaper and people rather will go for it than to buy a movie for #200. This, we learnt has gradually affected the pace and regularity of sales from the side of the marketers which in turn has affected the usual 2-week pace of movie release.
Information further revealed that the marketers are running at loss at every release and they can no longer pay the brains behind the production such as Printers who made the CD jacket and posters, Film Editors and of course the movie producers which influenced the act of inviting Soldiers and Policemen to arrest some of the marketers before the producers can get part of their payments.
The replicators, we learn’t increased their payment as the CD which was normally N20 now goes between #27 and #30 per copy, and the jacket which was #7 has risen to #13 per copy including posters. Some of these marketers are already lamenting especially after release but it is rather unfortunate that most of them have no alternative.
This, at some point ultimately reduced the numbers of marketers releasing movies to less than 20 rather than 41 fortnightly. We also scooped that most marketers are now forcefully going on leave while others are taking into music marketing. Some of these marketers, we learnt have been rejecting movies from producers, and in actual sense, if marketers are now rejecting movies from Producers, that means the era of VCD/DVD in the Yoruba movie industry will become extinct”.
Based on the above listed reasons, the marketers have finally decided to be releasing their movies in DVD which means it will be only one CD in the jacket rather than VCD which carries 2 CDs in a jacket to minimize cost of production.
Afterwards, the YouTube and Africa Magic came and the marketers were a little bit relieved until when the two alternative sources of income were bombarded with series of movies directly from the producers.
This, forcefully made the Marketers return to square one. The latest development about this claims now is that, most of the Stakeholders in the industry have gradually been dumping the vocation to invest in another businesses.
Olasco Film boss, was last December 2019 delved into hospitality industry as he opened his hotel at Ajah Area of Lagos, just as Okiki Films chairman recently invested over 45 million naira into Pure Water business in Ikorodu. An investment he is so sure of making profits from rather than putting his capital on movie marketing with nothing in returns.
The immediate past president of the association, Corporate Pictures is said to be more focusing on his ICAN school this days, as Epsalum movie boss is rumoured to have gradually been moving back to Kwara State to pay attention on his political career.
Toymax films owner is speculated to be running a big farm in Kwara State. Gemini Films boss also recently built his hotel at Ipaja metropolitan area of Lagos State.
Adekaz Films boss returned to his base in the United States of America, while his younger brother, Hibee Pictures relocated to Canada.
Almorooof Standard Investment recently moved back to his village in Kwara State permanently to become a king and also focus on his real estate business. Just as Zainab Venture is now fully into real estate business as well.
Those with multiple shops at Arena are now reducing it while others lockdown their shops and started operating from their alternative offices.
This is because there is no more sales and they are incurring more debts. The 3000 copies printed at every release is not enough to pay for the jackets, factory and producers.
The only means of making money is via DSTV and Online which are not certain at the moment.
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