New Media and The Future of Business in Africa

MEDIA MOGULS ARE EXPECTING A MASSIVE IMPROVEMENT IN THE MEDIA SECTOR THROUGH THE USE OF TECHNOLOGY. CHECK OUT NOTES FROM TOP MEDIA PERSONALITIES OBI ASIKA, MO' ABUDU AND BOLANLE AUSTEN-PETERS AT SOCIAL MEDIA WEEK LAGOS 2017

Immense progress have been made in technology in the past decade. Digital disruptions in Nigerian financial technology have caused varieties of channels of payments and transactions. Connecting this to the media, it has been found out that such progress has not be made in the Nigerian media stream. At the Social Media Week Lagos , 2017 Obi Asika, Bolanle Austen-Peters, Chika Nwobi, and Mo’ Abudu in a chat with media enthusiasts revealed how we can improve the Nigerian media sector like its the financial sector counterpart.

Here is an excerpt from the panel of discussion

 MO ABUDU, CEO EBONY LIE TV AND PRODUCER, THE WEDDING PARTY

MO ABUDU, CEO EBONY LIE TV AND PRODUCER, THE WEDDING PARTY

Mo’ ABUDU

"Immensely!  The ‘Wedding party’ movie was successful because we drove the ads for the movie via social media and I must say that response was 10 times better than we did with the first movie we made.

We were able to interact with our online audience by creating content with scenes from the movie and made it relatable to them. We asked questions like how is your mother-in-law treating you? What is your favourite African dish? We also gave them the opportunity to meet and greet the stars at the Cinema which made them feel like a part of the community. We used each casts’ fan base

People want content that is relatable and that is why local content is winning. Your content can’t be too alien.

Should you have difficulty getting investors to carry the financial responsibility of you project, use collaboration which is key. Get friends with different needed skills and get them to collaborate to produce your content. This is important.

The one sentence I would advise content creators to always have at the back of their minds is to  CHANGE THE NARRATIVE

The future of media is that will see a lot more stories that will be churned out will have an African twist to it"

 OBI ASIKA, MEDIA MOGUL AND CO-FOUNDER, SOCIAL MEDIA WEEK, LAGOS

OBI ASIKA, MEDIA MOGUL AND CO-FOUNDER, SOCIAL MEDIA WEEK, LAGOS

OBI ASIKA

"Technology indeed is changing the media landscape in Nigeria: The mobile phones gives the audience the democracy of access which is the simple most important thing.

The history and present day media put side by side, shows that back then on TV black content was rare. Now black content is dominating 30% of twitter space.

The future of media is mobile.

The most disruptive thing about the media today is that you see little people without pockets of money creating contents and are changing the face of entertainment and amassing tons of followers.

Social Media Platforms helping Media: These disruptions provides access. Here you can get thousands of people interested in what you do. This wasn’t the case about 20 years ago. Nigeria wants to talk. They want to connect.

To break through the media world you need to have a niche/focus. This is important. You also need to find a partner to collaborate with especially in financing.

Content creators in Nigeria should note that our biggest export is our culture. Not oil.

The one sentence I would encourage content creators to have in their consciousness is to grab opportunities. Embrace what makes you unique and use every opportunity to take that uniqueness global.

The future of media will be authenticity. Only those who have original and relatable content will go far."

 BOLANLE AUSTEN-PETERS, FOUNDER TERRA KULTURE AND PRODUCER, SARO THE MUSICAL

BOLANLE AUSTEN-PETERS, FOUNDER TERRA KULTURE AND PRODUCER, SARO THE MUSICAL

BOLANLE AUSTEEN-PETERS

"Mobile phones have changed the media world. Through the phone, we can do marketing easily and attract large audience base.

The most important thing content creators should note is that In Nigeria, local content is critical.

Fashion, food, literature, television, movie are the sectors of entertainment to watch out for in the next few years to make massive profits from.

The one word I would always say to content creators is QUALITY. Always make sure your work can stand the international market

Here’s the future of Media- Africans will begin to tell African stories. Take a look at Beyonce’s recent works with lemonade and the Grammy award performance. She sold the African culture to the world."