How The Decade-Long Award Show Contributed To Nigeria’s Economy

Award shows around the world are more than mere celebrations of glamour, artistry, or craft. They encompass all these aspects, which is the primary reason for their existence, but there has been a rise in their influence on many facets of society, whether in entertainment or the economy.

Take, for example, the Oscars, which recently generated an estimated $170 million economic impact on Los Angeles, its enabling city. “This is not just from the event itself but from related activities, from drivers and dinners to hotels and clothing purchases and so much more”, writes Stacy Jones, Founder of Hollywood Branded. That is no mean feat. Call it poetic, but the same narrative unfolds for the award shows colloquially described as Africa’s ‘Oscars’: The Africa Magic Viewers’ Choice Awards (AMVCA). Within its decade-long reign, the AMVCA has become increasingly important, impacting careers and ultimately boosting the economy.

Since its inception in 2013, the awards show has recognised talent, celebrated artistry, and fostered different crafts, acknowledging those who passionately tell African stories that resonate with audiences. Indeed, Africa’s vast diversity of over 3,000 tribes and a population exceeding 1 billion found a significant focal point in representing the myriad stories and histories of these diverse communities with the AMVCA. And that’s on the one hand. On the other, the AMVCA has impacted various sectors of the Nigerian economy, supported by ample data.

The AMVCA Impact Report published last year reveals that each edition of the awards show creates over 3,000 direct and indirect jobs, reaching an estimated total of 27,000 jobs throughout all its editions. Production designers, composers, screenwriters, sound designers/engineers, PR practitioners, and marketers are some of the direct sector beneficiaries.

Moreover, the days leading up to and following the awards show are full of monumental moments where tourists are known to immerse themselves in the culture of the country. This translates to hotels, Ubers, Airbnbs, resorts, restaurants, and guesthouses seeing a boom in their profits and earnings.

Furthermore, the increased visibility and success of African films have had a positive ripple effect on related sectors such as fashion, music, and the arts. African designers, stylists, makeup artists, musicians, and artists have found new avenues to showcase their talents, creating collaborations that enhance the overall creative economy of the continent.

For MultiChoice, whose burning desire to showcase the richness of African cultures and talents to the world through films birthed the AMVCA, the award has proved mutually beneficial. The company has invested over ₦9 billion in the industry, covering areas such as lighting, sound, music, fashion, venues, brands, setups, catering, and training through the MultiChoice Talent Factory. Consequently, this investment has led to elevated film standards, talent development, robust platforms for industry networking and collaboration, and international recognition.

No wonder, the AMVCA boasts a track record of successful collaborations with both new and existing sponsors, yielding mutual benefits. For instance, the popular malt drink brand, Amstel Malta, remains the headline sponsor for the tenth consecutive year, while Pepsi is also renewing its sponsorship.

“You just need to look at our dashboard after every edition of the awards”, said Francis Obiajulu, the Senior Brand Manager at Amstel Malta, on why their sponsorship has continued for nine years. He emphasised this at the recently held AMVCA press conference, highlighting the significant and noticeable positive impact the sponsorship has had on the brand image, brand health, and equity growth.

At the conference, Segun Ogunleye, the General Manager of Marketing for Seven-Up Bottling Company, also reiterated the AMVCA’s impact on connecting brands with consumers on a deeper level. Ogunleye explained that in a market where everyone is offering the same thing, the only thing that can set you apart is having an emotional connection with your audience, which the AMVCA offers.

Other sponsors of the 10th AMVCAs include TECNO, Verve, QuickTeller, Tiger Beer, MTN, and Indomie.

While the milestone edition of the AMVCA has evolved to align with modern capacities and changing tastes, such as the introduction of juries, the introduction of two special recognition awards as well as the reduction of the total categories. One thing remains certain: its forward-looking approach aims to enhance its contribution to the socio-economic landscape of African countries and their people.

As John Ugbe, CEO of West Africa, MultiChoice, succinctly captures it, “Suffice it to say that Africa only contributes 1% to a global creative economy valued at $2.2 trillion. So while the African creative sector’s contribution to the African economy is substantial, it is infinitesimal on the global scale. Hence, we have the onerous task of shrinking the gap in financial benefits between Africa and the West.”