Nigerian Filmmaker Mary Njoku ‘Can’t Sleep’ Amid IrokoTV $100M ‘Costly Mistake’ and Mounting Losses, Echoing Husband Jason’s Wake-Up Call.
“Head is full, I can’t Sleep” - Nollywood filmmaker Mary Remny Njoku cries out, weeks after her husband Jason Njoku who is the CEO of Iroko TV cried out over heavy loss in their business.
In a candid essay, Jason Njoku described IrokoTV's $100 million investment in Nigeria's digital entertainment space as a "costly mistake.
He admitted that the initial assumptions about the local market's willingness to pay for digital content and the broadband infrastructure were flawed. He stated that there was "no market for paid premium services" in Nigeria.
IrokoTV struggled to compete with global streaming giants like Netflix, Amazon Prime Video, and Showmax, which entered the market with substantial resources.
The company is still facing significant financial challenges, including substantial losses in the Nigerian market in previous years and issues with debt restructuring that is giving both Mary Remny and her husband Jason, a sleepless night.
A lesson to all Nigerian entertainers?
