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After Double-Digit Growth in 2020, Nigeria-Based Media Company IROKO Plans to Go Public

Nigeria-based media company IROKO has big plans to go public in the next year on the London Stock Exchange Alternative Investment Market. Founded in 2011 by Jason Njoku and Bastian Gotter, IROKO is a West African film streaming service that showcases an extensive catalog of Nollywood film content. It was rumored that the company planned to go public back in 2019, but after a few mishaps and having to weather business through the coronavirus pandemic, talks of IROKO going public are back on the table. “What we can achieve in private, we can equally achieve as a public company. We will likely open up the IPO to our loyal members too so they can capture the value too, which I am super excited about. One thing about IROKO is that we have always been pioneers and we’re okay being super experimental,” Njoku told TechCrunch. “I plan to open-source the entire process so any other African company coming behind — if we’re successful — will benefit from our experience.” This is such a big step...

Feb 10, 2021

Netflix Is In Talks To Purchase the Historic Egyptian Theater in Hollywood

Over the past few years, Netflix has been pushing the boundaries of what a streaming service can become. With its recent Oscar wins, Netflix’s attempts to build Hollywood ties seem to be paying off. Now, the company is in talks to take the next step by purchasing the Egyptian Theatre in Los Angeles. This historic Hollywood venue is currently owned by American Cinematheque , a nonprofit that owns two theaters in the area. It’s fitting that Netflix is looking into acquiring the Egyptian in particular because it was actually the site of the company’s Hollywood premiere for Roma. Currently, the Egyptian is primarily used for movie festivals, and it seems that Netflix won’t try to change too much about it. According to Bloomberg , a person familiar with the plans said that Netflix won’t run the Egyptian like a commercial theater. Instead, it looks like Netflix is simply searching for a spot to host red carpet events and premiere more of its own movies. HOLLYWOOD, CA – MAY 25: Signage at...

Apr 11, 2019

DOJ Warns Academy About Potential Rules Excluding Streaming From Oscars

It’s no secret that streaming services like Netflix and Amazon have transformed the film industry. These services have become such huge competitors that the Academy allegedly considered changing the Oscars requirements to make it harder for streaming service originals to qualify. Now, the Department of Justice is stepping in to warn the Academy that altering the rules could raise antitrust concerns, according to Variety. “In the event that the Academy — an association that includes multiple competitors in its membership — establishes certain eligibility requirements for the Oscars that eliminate competition without procompetitive justification, such conduct may raise antitrust concerns,” Chief of the DOJ’s Antitrust Division Makan Delrahim said in a letter to the Academy. The DOJ cited rules against competitors making anticompetitive agreements and said that excluding streaming services from the Academy could negatively impact their sales. Director Steven Spielberg was among those...

Apr 4, 2019

Hulu And Spotify Announce Partnership Making Subscriptions $9.99 Per Month

Today, Hulu and Spotify announced an expansion of their partnership, where they’ll be offering bundles at a rate that’s hard to ignore. Now, existing Hulu users can sign up for Spotify Premium and get the service free for 30 days. After the trial period, Spotify Premium subscribers basically get Hulu for free when it’s bundled with the music streaming site’s $9.99 charge. This is not Hulu and Spotify’s first time teaming up. The companies used to offer promotions and discounted prices to students and later expanded the package to include ShowTime streaming. The partnership comes after hints of a brewing rivalry between Netflix and Apple. Later this month, Apple is set to host an undisclosed event. Rumors say the event relates to Apple launching its own streaming service to compete with Netflix. After its release, its also possible that Apple will choose to bundle its video service with Apple Music. Traditional music streaming services now how a target on Netflix’s back. The...

Mar 12, 2019