Posted on September 6, 2017
In its bid to find lasting solution to the problems facing the creative industry in Nigeria, Media Distribution Networks [MDN] Limited, said it has designed a framework specifically to address the situation.
According to its MD/CEO, Mr. Rahman Muhammed Raji, the company has designed a solution aimed at putting in place a transparent, accountable and traceable worldwide system for the identification and distribution of Nigerian creative content globally.
He stated that the solution lies in the Aggregation Business Model and Tracking Framework put together by the company.
Raji stated that the framework would assist in the fight against piracy, enable the use of copyright protected works to be controlled; create accountability, transparency and efficiency and would facilitate the distribution and collection of royalties (performances, private copying) as appropriate.
Quoting PWC Report, Raji stated that Nigeria’s entertainment and media revenues will reach an estimated US$8.5billion in 2018, more than doubling from the 2013 figure of US$4billion at a Compound Annual Growth Rate [CAGR] of 16.1 per cent. This represents one of the fastest growth rates in the world. The Internet is said to be the key driver for Nigeria, where the number of mobile Internet subscribers is forecast to surge from 7.7 million in 2013 to 50.4 million in 2018. The PWC Report further stated that the digital music download and video streaming of Nigerian content is estimated to generate conservatively US$20million monthly.
Raji said MDN was set up in 2010 to promote the physical and digital sale and distribution of creative content through its innovative platform, boost financial liquidity of the content owner through sustainable Aggregator Business Model and Content Tracking framework
Source: http://sunnewsonline.com/mdn-designs-solution-to-creative-industrys-accounting-problems/ http://sunnewsonline.com/mdn-designs-solution-to-creative-industrys-accounting-problems/