Why piracy still exists in Nollywood---Libra MD

One of Nigeria's most respected entrepreneurs and movie producers in the country, Mr Lekan Wasiudeen, has stated why piracy still exists in the entertainment industry, especially in the Nollywood sector. 

The CEO of Libra Multimedia Limited, operator of LibraTV, who made this known during a chat with journalists in Lagos, recently, noted that apart from lack of technical-know-how, mismanagement and poor quality production, piracy remained a major financial setback for content owners for many decades. 

While revealing that piracy is a vacuum in the distribution channel, he prescribed digital delivery as a means of tackling the challenge, adding that LibraTv, which is an online channel, had since been delivering movie content to its numerous online subscriber and in the process making money for content providers to grow the movie industry.
 
"Libra Multimedia is a total production digital outfit, encompassing pre-production, production, post production and delivery. Since, piracy is a major challenge, we have a way special way of avoiding it, and protecting intellectual property and reducing costs in the distribution channel till it gets to the last consumer, " he said.