A Nigerian business which operates in the United States and other countries aiming to rake in $25b yearly revenue from the entertainment industry by propelling Afro content to world’s major economies, thereby competing with Netflix, a famous streaming service provider, which currently rakes in over $25b annually, and Amazon.
Lucky Igbokwe, a Nigerian businessman, said the acquisition of a premium streaming service provider, KeduTV LLC, for around $1.1m in a bid to expand Afro content worldwide could majorly impact the economy of the nation and added that digital media smart devices, LiveTV, Video-on-Demand for Afrobeat Music, Lifestyle and entertainment were being provided by the platform.
In an Entertainment & Media Outlook released in 2019, PwC noted that the industry could hit $10.5b by the end of 2023 in Nigeria.
It should be recalled that contribution from the industry aided to the growth of Nigeria’s Gross Domestic Product, propelling it to the biggest in Africa.
The platform aims to outperform providers of streaming services like Amazon Prime, Netflix, Hulu and HBO Max.
Igbokwe revealed further that KeduTV Channel and Kbox were presently owned and controlled by KeduTV LLC and had gained the rights to stream major African entertainment award shows.
Igbokwe said Africa’s rich culture and distinctive growing infrastructure needed to be experienced and stressed the need to showcase Africa’s entertainment industry globally and with major competitors in the world.
The KBox is a product that is supported by KeduTV LLC and it could be used on any analog TV that enables it as a smart streaming television.
