Here’s everything that happened at Business Insider by Pulse’s Social Media Week Lagos 2019 session, The Business of New Media

Digital media business owners and content producers discuss current realities of doing business in Nigerian digital space.
Discussions focus on opportunities, lessons and challenges for content producers and creators.
Business Insider SSA by Pulse put the session together at the on-going SMW Lagos 2019.

Digital media business owners and content producers gathered at Business Insider by Pulse’s session at the Social Week Media Lagos 2019 on Monday to discuss the current realities of doing business in the Nigerian digital space and what the future holds.

The event tagged, 'The Business of New Media', organised by Business Insider SSA by Pulse took place at the Innovation Stage at Landmark Centre, Lagos.

The panel session, moderated by David Adeleke, Editor of Business Insider SSA, had the Country Head, Digital Strategy, RADP, Ben Onwe, Ngozi Madueke-Dozie, West Africa GM, Kwese iFlix, Soji Ogundoyin, the Co-founder, S&T Media Ltd, Martin Mabutho, Chief Customer Officer, MultiChoice Nigeria.

David I Adeleke and other panelists at the Business Insider By Pulse session at SMWLagos Business Insider By Pulse session at SMWLagos Pulse Nigeria

Opportunities for content producers and creators

Kwese iflix’s West Africa GM said local content is the company’s primary key as the company will continue to work with the local producers across Africa.

Challenges in the digital media space

Competition among equal brands and who gets the advertising deal is the main challenge in the digital space.

Business Insider By Pulse session at SMWLagos Business Insider By Pulse session at SMWLagos Pulse Nigeria

While explaining some of the challenges present in the digital space, Ben Onwe painted a scenario where advertisers still want to spend more on traditional platforms across Africa. This, he said, created obstacles when pitching digital opportunities to those set of people.

“In the end, your contents speak for itself,” he said.

Ben Onwe, Country Head, Digital Strategy, RADP at the Business Insider by Pulse session at the Social Media Week Lagos 2019 Ben Onwe, RADP Head Of Strategy and Sales Pulse Nigeria

Big lessons in the digital space

Martin called for perseverance among digital producers and urged them not to quit during a tough period.

“Digital content creation is a tasking job, very easy to give up and a little bit harder in this market. But don’t give up”, he advised.

Martin Mabutho, Chief Customer Officer, MultiChoice Nigeria at the Business Insider by Pulse session at the Social Media Week Lagos 2019 Martin Mabutho, Chief Customer Officer, MultiChoice Nigeria at the Business Insider by Pulse session at the Social Media Week Lagos 2019 Pulse Nigeria

Ngozi said endurance is the most important factors for content creators and only those who stay the course will reap the rewards.

Soji Ogundoyin of S&T Media Ltd, harped on consistency and patience as key factors for success in Nigeria’s digital content space.

Soji Ogundoyin, Co-founder at S&T Media at the Business Insider by Pulse session at the Social Media Week Lagos 2019 Ltd Business Insider By Pulse session at SMWLagos Pulse Nigeria

Ngozi Madueke-Dozie, West Africa GM, Kwese iFlix, in a sideline interview dismissed insinuations that Kwese may not be battle-ready with Netflix and MultiChoice on the streaming business.

Madueke-Dozie said Kwese iflix is about a thousand naira for a month and the company has both compelling prices and contents for its consumers.

“From price and content perspectives we have different things.

A participant asking question at the Business Insider By Pulse session at Social Media Week Lagos 2019 Business Insider By Pulse session at SMWLagos Pulse Nigeria

“We have a lot of content creators like social media viral videos and for us, we are looking into all kinds of contents and that's where our uniqueness comes from.

“On our platform, we do let you watch some stuff for free. We have similar platforms and features to Netflix and YouTube but it is not necessarily competitive. So with 180 million people, we have a large audience and enough market to cater for,” she explained.

Here’s everything that happened at Business Insider by Pulse’s Social Media Week Lagos 2019

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