Nollywood and wealth creation through monetization of streaming narratives on YouTube and Facebook

Abstract

As Nollywood becomes global, filmmakers have greater opportunities to generate revenue through platforms that reach vast audiences. This paper examines how Nollywood appropriates such opportunities to create wealth. Particularly, it accounts for how Nollywood monetizes her films through ad revenue, fan subscriptions, and branded content, converting audience views and watch time into financial gains. Two theories have been applied to the study: Digital Economy Theory (DET) and Media Convergence Theory (MCT). DET applies to highlight the shift from traditional distribution methods to digital platforms, thereby transforming the economic landscape of Nollywood. On the other hand, MCT explains how Nollywood content creators adapt to a converged media environment, utilizing multiple platforms to maximize engagement and profitability. Despite the challenges of algorithm dependency, content oversaturation, and piracy, this study underscores the significant potential of wealth creation in Nollywood through the strategic use of YouTube and Facebook. Insight into the industry’s digital evolution and global competitiveness has been made.