NECLive Report Reveals ₦1.3 Billion Investment in Entertainment Industry

A decade after its inception, NECLive – West Africa’s largest annual conference – has revealed a comprehensive report and documentary, providing an in-depth analysis of the Nigerian entertainment industry’s evolution and the impact of the conference over the years. It delves into the challenges, and motivating factors behind the conference’s inception, recorded growth, emerging trends, and newfound opportunities in the industry. This report and documentary cumulatively capture the transformative journey undertaken by NECLive.

Produced by ID Africa and BHM Research & Intelligence, the report highlights NECLive’s significant contributions to the Big 4 industry sectors – music, film, fashion, comedy, (and alternative art). Its strategic focus on talent management, improved regulatory frameworks, and amplified digital streaming and distribution has culminated in an investment exceeding ₦1.3 billion over the past decade, fostering unparalleled growth within the industry.

Serving as the marketplace for the biggest minds in the industry, to convene and address challenges, NECLive has actively sought solutions for piracy, funding limitations, infrastructure deficiencies, copyright infringements, and talent development gaps. The conference’s substantial influence is evident in the industry’s current surge in potential and overall growth trajectory.

NECLive’s impact resonates across various facets: from hosting conferences, exhibitions, and mentorship programs to championing thought leadership initiatives. An impressive “87.5% of industry stakeholders attribute NECLive’s interventions to the advancement of Nigeria’s entertainment sector.”

Ayeni Adekunle Samuel, the conference’s convener, reflected on the journey and future plans, stating, “The inception of NECLive was rooted in the belief that the realm of possibilities knows no bounds; that with the right blend of education, networks, and determination, we have the power to accomplish anything we set our minds to. As Nigerian entertainers continue to shatter barriers and achieve unprecedented milestones, NECLive stands as a steadfast companion, guiding, inspiring, and reminding us that our potential is limitless. As we embark on the next transformative decade, be rest assured that NECLive has a renewed mission to embrace.”

Regarding funding sources, while passion propels NECLive, the report reveals that sustaining the conference year after year primarily relies on support from organizers – BHM and ID Africa, alongside notable partners like Multichoice and MTN. This investment has significantly propelled NECLive’s framework, comprising advocacy, training, workshops, panel discussions, keynote presentations, and more. Noteworthy statistics over the last decade include a reach of over 132 million, 100,000+ event participants, and 45 hours of online broadcasting across various platforms.

At NECLive 2017, John Ugbe, MultiChoice CEO, and chairman of the Broadcasting Organisation of Nigeria, emphasized the necessity of exporting our content and talents to the world, stating, ‘Beyond oil, we need to export our content, talents to the world. More structures need to be created as Nigerian movies have found a wider appeal.’

Looking forward, NECLive sets its sights on global expansion, aiming to continue spearheading the entertainment industry’s development. The conference seeks to position Africa on the global stage by projecting Africa to the world and bringing the world to Africa, all while leveraging its inherent creativity for extensive growth and exposure.