AMVCAs Impact On Revenue Streams, Market Expansion For African Content

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AMVCAs Impact On Revenue Streams, Market Expansion For African Content
AMVCAs Impact On Revenue Streams, Market Expansion For African Content

The thrill of the recently concluded 10th Africa Magic Viewers’ Choice Awards (AMVCA) might be winding down after a 2-day celebration aimed at recognizing outstanding talents in Africa’s film and movie industry. However, the positive impact of this prestigious event will resonate for years to come. The reason is clear: the AMVCA has and will persist in fostering a positive influence on the African film industry and the Nigerian economy as a whole.

AMVCA has made substantial economic contributions that continue nourishing and nurturing the African film ecosystem. According to the first impact report of the annual awards published in 2023, over 27,000 jobs have been created by the AMVCA since its inception in 2013. The report also states that over 3,000 direct and indirect jobs are created each year during the award ceremony. These include jobs in event management, set design, art direction, technical crew, fashion design, makeup, hair, photography, public relations, and more.

The 10th AMVCA saw a lineup of A-list sponsors such as Amstel Malta, Pepsi, and Onga Seasoning, including first-time sponsors such as Martell and Nivea. Their contributions to the event, including their showcase on the Cultural Day, contributed not just to the ambiance and reputation of the event but also resulted in job creation creating a multiplier effect. The 10th AMVCA had 18 sponsors who in one way or another employed no fewer than 10 people to make their presence at the Cultural Day and Award Night a success.

Apart from the obvious employment contributions, AMVCA has also acted as a significant catalyst for economic growth in Africa’s film industry. The direct sector beneficiaries include actors/actresses, filmmakers, screenwriters, cinematographers, editors, production designers, sound designers/engineers, composers, marketers, and so on.

Another remarkable impact of the AMVCA is the increased recognition and exposure of African films on the global stage. This has created new opportunities for co-production, collaboration, and distribution deals with major players in the film industry. This has also resulted in a surge of production activities, leading to income generation from actors, filmmakers, crew members, and supporting industries such as catering, logistics, equipment rentals, stage building and management, etc.

African designers, musicians, and artists have also found new avenues to showcase their talents thanks to the positive ripple effect caused by the ever-growing influence of African films on the international community.

The AMVCA has over the years played a significant role in the promotion of tourism and destination marketing across the African continent. Apart from the stories the nominated films portray, the viewers are also exposed to Africa’s cultural richness and historical landmarks, sparking the curiosity and interest of potential tourists.

The Africa Magic Viewers’ Choice Awards continues to move on an upward trajectory in its mission to showcase the richness of our cultures and talents to the world through African films. Looking ahead, there is an anticipation for increased commitment towards accelerating the socio-economic impact of the sector. This entails fostering talent, broadening industry exposure, and attracting investment.  With Africa currently contributing only 1% to the global creative industry valued at $2.2 trillion, there is a pressing need for stakeholders to support the AMVCA to bridge the financial disparity between Africa and other continents.