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Wednesday, July 3, 2013

Idumota Traders stop sales of Yoruba Movie

Some movie marketers, under the aegis of
Yoruba Video Films Producers and Marketers,
YVFPMA, Association of Nigeria, have
banded to protest the flagrant piracy of
movies in the popular Idumota Market, Lagos.
To enforce this, the marketers have stopped
the further release of home videos of Yoruba
genre into the market with effect from
Monday, July 1.
This is after a petition had been written by
the marketers to the National Assembly
lamenting the financially crippling activities of
piracy and requesting that the legislators
passed decisive laws to curb the menace.
According to information gathered from the
General Secretary of YVFPMA, Mr. Tunji
Ojetola, the petition was given a hearing on
the floor of NASS on Monday.
However, the marketers are resolved not to
resume film release until their grievances
have been suitably treated. "It is really
serious and we have been complaining for
long but it seems nothing was being done so
we decided to stop the release of films for
now. Presently, meetings are ongoing with
relevant agencies of government about the
crisis and we hope to find a solution soon",
said Ojetola.
Nestled in the heart of Lagos Island's bustling
commercial district, the market's film trading
section is one of the two business hubs on
which Nollywood –the film industry in
Nigeria, is currently totally dependent. The
other is Alaba International Market located in
Ojo area of Lagos Mainland, which is viewed
as the source of the movie piracy dilemma.
"We know the pirates; and the accusatory
finger is pointing back to Alaba International
Market", the Sec. Gen stated.
Assessing their loss in numbers, Ojetola
explained that between 20 to 25 Yoruba
movies are released fortnightly in both
markets and because of the activities of
pirates, the film producers and marketers lose
between N60m to N65m every month;
annually, that would be N720m to N780m
untaxed income going into the pockets of
pirates. These are conceivable figures
considering that globally, Nollywood is
ranked as second film making industry in the
world; Nollywood makes about 2,400 films
per year, putting it ahead of the US, but
behind India, according to an updated
UNESCO report in 2012.
Also in 2012, research data produced by
Euromonitor International in its forecast of
nine major global travel trends for the next
four years (till 2016), places Nollywood fourth
on the list for being 'a film hotspot' and
holding the power to increase tourist arrivals
in the country from 2 percent in 2012 to
nearly 3.5 percent in 2015.

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