iROKOTV, a subsidiary of iROKO Partners, was launched in 2010 and is Africa’s leading entertainment technology company. Founder Jason Njoku realized that there was a non-existent infrastructure for international distribution Nollywood Nigerian movies, the world’s 2nd largest film industry. Njoku flew to Lagos, Nigeria, and purchased the online licenses of Nollywood movies directly from the producers. Along with a partnership with Youtube in Germany, he started with a Youtube channels the launch of Nollywoodlove and Yorubalove which garnered over 1,100,000 per month in views. Completely disrupting the VOD market that didn’t even exist before, iROKOTV quickly became Africa’s answer to Netflix and Hulu.
The company is the largest global licensor and leading distributor of Nollywood movies in both English and Yoruba languages online. It is one of Africa’s first mainstream online movie streaming websites, giving instant access to over 5,000 Nollywood film titles. iROKOtv works with international brands such as British Airways to Nollywood TV, Tigo and The Africa Channel.
The company also works with most of Nollywood’s top film production houses and purchases the exclusive online licenses to their films, in an attempt to distribute Nollywood films to a global audience. Besides Africa, they have a global reach with top five countries including the US, UK, Canada, Germany and Italy. In 2015, iROKO pivoted into the Linear TV market and has launched two channels – iROKO Play and iROKO Plus, on leading network, StarTimes.
iROKOtv currently runs on an an advertising revenue-generated business model but have plans to introduce a subscription payment model in the near future.
- Company: iROKOtv
- Started: 2010
- Total VC Funding: $35 million
- HQ: Lagos, Nigeria
- Linkedin Employee Count: 171
- Co-founders: Jason Njoku (CEO), Bastian Gotter
- Product: Video Streaming