How To Make Nigerian Entertainment Industry More Profitable – Ayeni Adekunle

Ayeni Adekunle, the convener of West Africa’s largest and longest-running entertainment conference, NECLive, has emphasised the need for the Nigerian and African entertainment industry to be built on an infrastructure that is not solely dependent on Western systems.

Speaking on Arise TV on Sunday, November 26, 2023, about the recently launched NECLive Report, which highlighted the conference’s contribution to the growth of Nigerian entertainment, Ayeni said that although most of the challenges affecting the industry a decade ago have been addressed, there is a need to have a strategic vision about the future to ensure that Africans get maximum results for their talent and content.

“While most of the issues affecting the Nigerian entertainment industry have been addressed or partly fixed, we can now see fresh issues and challenges,” he said.

Since its inception in 2013, with a staggering investment of N1.3 billion in the last decade, NECLive has contributed to the commendable growth Nigeria’s entertainment industry has witnessed. Although by 2025, Nigeria’s Entertainment and Media Industry is projected to grow from $7.68 billion in 2021 to an estimated $14.82 billion, Africa still contributes less than 1% to the global creative economy valued at as much as $2.2 trillion.

Ayeni believes that for the continent to drive the needed gains from the sector, the government should partner with the necessary stakeholders and industry thought leaders to ensure that culture and African values are exported through entertainment aimed at redefining the way the continent is perceived.

“We think that as we are globalising and key infrastructure is being put in place, this is the time to make sure that 10 years from now, we don’t wake up and realise that although our music and film are doing well with great talent, it is still being controlled by Western infrastructure,” he said.

Ayeni also questioned the rationale of categorising African music into one subcategory during awards like the Grammy.

“Artistically, we are one of the most talented people in the world. I am one of those who can’t wait for Burna Boy, Wizkid, Davido, and other great Nigerian artistes to be ranked with their contemporaries based on the quality of their music and not be grouped into subgroups like Afrobeats,” he said.

Earlier in the year, the conference organisers announced that NECLive will now be a global event, with a flagship event in Lagos, and several satellite and franchise events to be held in at least 15 other cities around the world. The conference will help to refine talents through training, help to tell authentic African stories and inspire the industry to make better fiscal decisions that will help to build the continent’s wealth and economy.