Travails of the late 27-year-old singer, Ilerioluwa Aloba, popularly known as Mohbad, over his experience with his erstwhile record label has continued to generate concerns around the world over the indecent treatments faced by creative talents.
With ForeMedia Group, such loss of iconic talent like Mohbad will not only be prevented, “instead, their talents celebrated to further gain global attraction to realise projected addition to the nation’s GDP through the highly profitable entertainment industry,” said the firm’s Chief Executive Officer, Hareter Babatunde Oralusi.
He disclosed that together with its global partners, the company is determined to pursue an urgent objective to make sub-Saharan Africa a significant part in the world of digital entertainment and media.
Oralusi said the London-based entertainment giant, ForeMedia Group, has introduced artist and creator services in Nigeria to boost the entertainment and creative economy sectors.
According to him, “the globally recognised entertainment firm, which owns ForeMedia Music and ForeTVHub, is committed to promoting quality Afro-centric entertainment for audiences around the world.”
Recognised among top 10 London’s best creative agency companies, ForeMedia operates in the United Kingdom, the United States and Nigeria. It seeks to catalyse the creative talents of African descendants at domestic and international space.
The ForeMedia Group builds a digital ecosystem for talents to learn, create, distribute, and monetise contents across the entire digital entertainment landscape to give African creatives a voice on a global stage.
Oralusi said: “In view of its start-up expertise alongside its clout as a leading entertainment house, aspiring Afrocentric storytellers, filmmakers, musicians, and other creatives can now tap into the safe, up-to-date facility at their disposal through the firm to entertain, engage, and inform the global audience.”
Oralusi said the strategy would grow the economy, level up the way of life, and offer Nigeria’s, and indeed African youths the opportunity to appreciate and embrace a worthwhile profession.
Nigeria’s media and entertainment industry is one of the fastest-growing creative industries in the world, according to PwC Global Entertainment and Media Outlook for 2022 to 2026.
It is largely private-sector driven and has produced several successful globally recognised musicians who have gained global attention. Majority of them have stormed the global entertainment space with major records with distribution, and music publishing companies in the US, UK, and other parts of Europe playing significant roles in their successes.
PwC also projected that Nigeria’s entertainment sector has the potential to become one of the country’s exports, with a projected annual consumer growth rate of 8.8 per cent (CAGR).
The Nigeria’s film industry, the outlook also disclosed to have contributed $660 million or about N239 billion, which represents 2.3 per cent Gross Domestic Product (GDP) in 2021.
PwC further foresees an increase in the industry’s export revenue earnings to over $1 billion with the motion picture and music both contributing about $1.8 billion or N730 billion to the country’s GDP in 2020.
In view of this, the group has carried out substantial groundwork to translate this projection into reality by positioning the ForeMedia Group as number one creative ecosystem in the whole of sub-Saharan Africa.
As part of its digital ecosystem business model, ForeMedia Group has built an extremely robust tech infrastructure to support its these services. The company also announced its upcoming International Entertainment Festival billed to hold in Lagos, Nigeria in May 2024 with the theme: “Access Global Opportunity.”
The festival which is a special event of its kind in the world will be a three-day programme targeted at connecting globally ambitious artists, storytellers, filmmakers, musicians, comedians, authors, producers, technologists, and investors.
