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Monetizing the creative economy leveraging technology.pdf

Plenary Session delivered by Opeoluwa Filani

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Monetizing The
Ope Filani
December, 2023
Creative Economy
Leveraging Technology
The combination of creativity and
technology presents a vision of a
Digital Lagos that can propel this
metropolis to new heights of
prosperity, innovation, and cultural
richness.
By nurturing a creative economy,
Lagos can leverage its unique
strengths and become a hub for
creative talent, innovation, and
cultural exchange.
Music Film Design Technology Culture
This transformation will stimulate
economic growth, foster job
creation, and nurture an
environment where innovation
thrives
The Lagos Creative Economy is thriving across multiple sectors, from Music, Film/Movies, Fashion
and Design, Art and Architecture enabled by Technology
2%
13%
16% 16%
30% 31%
40%
SSA Eastern
Europe
MENA North
America
LatAm Asia-Pacific Western
Europe
SVOD Penetration (% of all HHs)
African SVOD Subscriptions (Millions)
Africa's Subscription on Demand (SVOD) Market is expected to almost Triple by 2027.
Nigeria has Welcomed the Biggest Streaming companies in the last 3 Years
4.9
13.6
2.8x
2021 2027
Source: Digital TV research 2022
Music Streaming forms a key Success component of Lagos’s Digital Creative economy, with
numerous residents achieving global recognition in music through streaming platforms
Combined – Over 20.5 Billion Streams
Source - https://kworb.net/spotify/artist
The combination of Creativity and Technology presents a vision of a Digital Lagos that can propel
this metropolis to new heights of Prosperity, Innovation, and Cultural richness
Leverage its unique
strengths and become a
hub for Creative talent,
Innovation, and Cultural
exchange.
Stimulate Economic
Growth, foster Job
Creation, and nurture an
environment where
Innovation thrives.
This marriage of Creativity
and Technology is not a
choice; it's an imperative
in a world that is
increasingly digital.
In the union of the
Creative Economy and the
digital age, we encounter
both challenges and
opportunities.
It offers Global Reach
however with this reach
also comes Global
competition
In a Global Digitally competitive world “ Lagos is competing with many other African Global cities. A
digital world makes Information critical to how a city is perceived. -
Lagos

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Monetizing the creative economy leveraging technology.pdf

  • 1. Monetizing The Ope Filani December, 2023 Creative Economy Leveraging Technology
  • 2. The combination of creativity and technology presents a vision of a Digital Lagos that can propel this metropolis to new heights of prosperity, innovation, and cultural richness. By nurturing a creative economy, Lagos can leverage its unique strengths and become a hub for creative talent, innovation, and cultural exchange. Music Film Design Technology Culture This transformation will stimulate economic growth, foster job creation, and nurture an environment where innovation thrives The Lagos Creative Economy is thriving across multiple sectors, from Music, Film/Movies, Fashion and Design, Art and Architecture enabled by Technology
  • 3. 2% 13% 16% 16% 30% 31% 40% SSA Eastern Europe MENA North America LatAm Asia-Pacific Western Europe SVOD Penetration (% of all HHs) African SVOD Subscriptions (Millions) Africa's Subscription on Demand (SVOD) Market is expected to almost Triple by 2027. Nigeria has Welcomed the Biggest Streaming companies in the last 3 Years 4.9 13.6 2.8x 2021 2027 Source: Digital TV research 2022
  • 4. Music Streaming forms a key Success component of Lagos’s Digital Creative economy, with numerous residents achieving global recognition in music through streaming platforms Combined – Over 20.5 Billion Streams Source - https://kworb.net/spotify/artist
  • 5. The combination of Creativity and Technology presents a vision of a Digital Lagos that can propel this metropolis to new heights of Prosperity, Innovation, and Cultural richness Leverage its unique strengths and become a hub for Creative talent, Innovation, and Cultural exchange. Stimulate Economic Growth, foster Job Creation, and nurture an environment where Innovation thrives. This marriage of Creativity and Technology is not a choice; it's an imperative in a world that is increasingly digital. In the union of the Creative Economy and the digital age, we encounter both challenges and opportunities. It offers Global Reach however with this reach also comes Global competition
  • 6. In a Global Digitally competitive world “ Lagos is competing with many other African Global cities. A digital world makes Information critical to how a city is perceived. - Lagos
  • 7. Kigali’s first Digital impression highlights its cleanliness, vibrant markets, and modern infrastructure its picturesque landscape and urban charm showcase a city merging nature with efficient development, inviting exploration and admiration. Kigali
  • 8. Cape Town's first pages reveal a city where natural beauty, history, and cultural vibrancy converge, inviting exploration and enchantment. Cape Town
  • 9. We can explore these 9 pillars in our journey to create a thriving creative economy 1 2 3 4 5 6 7 8 9 Education and Skill Development Supportive Infrastructure Cultural Diversity and Heritage Infrastructure and Technology Marketing and Promotion Creative Talent and Innovation Collaboration and Networking Entrepreneurship and Business Support Higher Quality of Life
  • 10. Lagos Digital Economy Must Start from The Physical Does Lagos have the infrastructure to create scale for its creative economy to Thrive. Case Study Cannes – Film Festival / Lions – Advertising and Creative Festival
  • 11. Cannes - key figures France's 2nd largest city for trade shows after Paris Nice Côte d'Azur International Airport is situated 25 km from Cannes via motorway 2,749 retail outlets (source INSEE 2013) 10,781 business units (source INSEE 2015) including 6,819 companies registered with the RCS (source CCINCA 2016) Thalès Alenia Space: The leading production site in the department, with over 2,000 employees 1 2 3 4 5 30 clubs and discos 500 restaurants and cafés 31 private beaches with their own restaurant, 13 public beaches and 1 municipal beach 3 casinos: Casino Croisette, Casino 3.14 and Casino Les Princes Accommodation: Exceptional hospitality facilities in Europe. Around 130 hotels and 8,000 guest rooms in hotels and residences, including: • 7 Five-Star hotels • 35 Four-Star hotels • 32 Three-Star hotels • 25 Two-Star hotels • 5 non-classified hotels • 25 tourist residences and resorts
  • 12. By leveraging digital tools, platforms, and innovative business models, creators can unlock diverse revenue streams, connect with global audiences, and transform their passion into sustainable and profitable ventures. Digital Distribution of Content Creation E-commerce and Online Marketplaces Subscription& Membership Models Crowdfunding Platforms Licensing & Collaborative Platforms NFTs & Blockchain Technologies Data Monetization & Analytics AI Personalization Visual Events & Experiences Mobile Apps & Micro Transactions