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Femi Otedola’s experience with billionaire friends

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In September 2019, while the rest of us were on Twitter venting over the Central Bank of Nigeria’s recent implementation of its rather polarising cashless policy, Femi Otedola and some of his billionaire friends were hanging out somewhere nice and eating ice cream. It’s not just any kind of ice cream, by the way, it’s the Gelato kind of ice cream.

A clip shared by Femi Otedola on his personal Instagram page relieved the experience. He excitedly wrote in the description of the video that his good friend and Nigeria’s only known trillionaire, Aliko Dangote, has finally been caught by the “Gelato bug”.

Four other notable men (including Access Bank’s Herbert Wigwe) could be seen in the clip laughing heartedly while eating their ice creams. Femi Otedola recorded the video himself and was heard in the background laughing while saying “Gelato”.

Popularising Gelato: A few months ago, a large segment of the Nigerian population did not know what Gelato is. All it took to popularise the ice cream in Nigeria is for Femi Otedola and his celebrity daughter (DJ Cuppy) to release a video of the two of them eating Gelato.
Since then, Gelato has become a subject matter for Nigerian pop culture, even as a popular song has been released based on Gelato. With this latest video courtesy of Mr Otedola, it doesn’t seem like Nigerians will be forgetting about this Italian ice cream anytime soon.

 

Lifestyle

Netflix signs multi-title deal with Mo Abudu

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Netflix has announced a new partnership with the owner of Ebony Life TV, Mo Abudu, to bring two of Nigeria’s literary classics from book to screen.

The deal will see both partners bringing a series-adaptation of Lola Shoneyin’s “The Secret Lives of Baba Segi’s Wives” and a film-adaptation of Prof. Wole Soyinka’s “Death And The King’s Horseman”, to screen.

Netflix announced this on its Twitter handle @NetflixNaija on Friday morning.

In addition, Mo Abudu’s Ebony Life TV will also produce “two new Nigerian Originals plus licensed films AND a series for Netflix!”, the tweet read.

With this deal, the global streaming giant will be streaming both Nigerian classics to its subscribers across the globe.

READ MORE:Beyonce’s father invests in Nigerian streaming app, MePlaylist

What you should know

Netflix is a global streaming entertainment service provider with over 183 million paid memberships in over 190 countries.

Mo Abudu first became popular in 2006 with her daytime talk show, Moments With Mo, but she has since then risen to become a brand in Nigerian entertainment.

She launched EbonyLife TV in 2012, the first fully Nigerian-owned entertainment channel to be carried on South African pay-TV platform DStv, and later ventured into feature film production, producing successful titles like The Wedding Party.

EbonyLife productions are credited with having the three highest-grossing Nigerian movies in the box office.

 

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Multichoice to offer Netflix, Amazon contents to subscribers

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When the shares of Multichoice Group jumped by 8.5% to 102.62 rands on Wednesday at the Johannesburg Stock Exchange, South Africa, a lot of observers were shocked by the news, as it had not recorded such feat in months.

The development, some observers said it could be attributed to the 2020 full-year result of the group, which was released on Wednesday. The pay-TV announced a 5% growth in its subscribers base when it rose to 19.5 million. While it recorded revenue growth of 3% to close at R51.4 billion, its core headline earnings were up by 38%. No wonder, it could afford to pay a dividend of R2.5 billion (N57.9 billion) to its shareholders.

Other observers argue that the development could also be attributed to the news the group broke in the financial report. The group stated that it had signed a deal with Netflix Inc. and Amazon.com, its US rivals to offer its streaming services through its new decoder. This move, no doubt, would help Africa’s largest pay-TV firm retain teeming subscribers and attract potential viewers.

READ MORE: MTN, Airtel, others disregard Pantami’s directives over voicemail, data cost

The deal was disclosed in MultiChoice’s results presentation, tagged ‘Improve Retention’ shared on its site and seen by Nairametrics.

Multichoice Netflix

Multichoice partners Netflix

 

This could indicate ‘If you can’t beat them, join them’ move, as the duo rivals have been giving Multichoice run for its money, creating greater competition, offering cheaper and faster internet speeds, which enabled them to stamp their feet on the continent.

How would Multichoice benefit from the deal?

While observers await Multichoice’s announcement on how the move could affect it’s monthly fee probably in a few weeks, a top executive of the group explained that it is a win-win situation for the company.

“What would typically happen is we would get a commission on whatever revenue gets generated by customers coming from our platform,” Chief Financial Officer Tim Jacobs said in a phone interview, according to Bloomberg.

READ ALSO: Microsoft Teams’ rival, Slack shares drop on withdrawal of full-year billings guidance

Nigeria’s contributions to the figures

The financials stated that the group recorded 8% year-on-year subscribers growth in Nigeria, highest in Africa, as it recorded losses in Zimbabwe (41%), Zambia 11%, Angola 2%, while Kenya was constant. It also recorded a 22% growth in subscribers revenue in Nigeria.

No doubt, it stated in the report that the group expects it’s new bouquets and 1H FY2020 migration would earn more for the company by the end of the 2021 financial year-end.

Meanwhile, Netflix has also made an effort to produce more African content. Dramas “Queen Sono” and “Blood and Water”, both South African, debuted on the service this year, supported by extensive marketing campaigns.

“There is little overlap between content on Multichoice’s Showmax, that is now 50% local, and a service like Netflix at the moment, hence we find deals with other video-on-demand services complementary,” said Jacobs.

Impact of COVID-19

The full impact of the COVID-19 pandemic on the business is yet unknown, MultiChoice explained that it expects weaker economic growth and higher unemployment in many of its markets. “The TV provider continues to film local productions, taking specific precautions such as splitting production teams,” Jacobs added.

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Lifestyle

CR7 emerges first soccer billionaire

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Cristiano Ronaldo has been crowned the first soccer billionaire ahead of his top rival in sport, Lionel Messi after earning a massive $105 million before tax and fees in 2019. This was announced by Forbes through its official website.

CR7 as he is popularly called, ranks Number 4 on the 2020 Forbes Celebrity 100, a spot above Lionel Messi, and making him the first soccer player in history to earn $1 billion.

The 35-year old Juventus attacker is the third athlete to hit the $1 billion mark while still playing following Tiger Woods, who did it in 2009 on the back of his long term endorsement deal with Nike and Floyd Mayweather in 2017, who’s made most of his income from a cut of pay-per-view sales for his boxing matches.

The Portuguese star joined Juventus in 2018 in a deal worth $117.34 million after spending nine years with Real Madrid and within 24 hours of release, Juventus sold 520,000 Cristiano Ronaldo jerseys worth over $60 million.

He has amassed an ever-growing following of fans over the years. In January he became the first person with 200 million followers on Instagram alongside massive presence on Twitter and Facebook making him the most popular athlete on the planet.

Recall that in 2016, Nike signed Ronaldo to a lifetime deal and pays him upwards of $20 million annually couple with other sources of income including Real Estate, Social media influencing, etc. His 2020 earnings include a salary of $60 million, a slight decline compared to his earnings in 2018 due to a 30% pay cut he agreed to take in April as a result of the COVID-19 pandemic.

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