The current situation with cinema in Nigeria is the most promising public sector of the entertainment industry. The film industry is the second-largest globally in terms of the number of films produced while contributing significant percentage shares to the national GDP: in 2016 alone, there were about three (Etuk, 2020). It amounts to approximately 238 billion nairas in monetary terms, but the sector plans to achieve an export income of one million dollars in the coming years (Chindma, 2021). Although the current situation with the pandemic implies a decrease in income in the entertainment industry, in reality, restrictions only lead to a decrease in growth rates the prolongation of related plans (Mikos, 2020). The average price for such courses varies depending on the duration of the courses and the content of specific activities within the course, but on average, each month can cost an average of $350-450 (MX Film Academy, n.d.; Ai Multimedia Academy, n.d.). Most schools are located in Lagos and offer high entry fees regardless of central (Top 11 Nigerian Film Schools, 2022). Therefore, if a startup focuses on mass learning in regions with a relatively dense population, there is a high probability of quickly becoming profitable. The cost structure includes rather large expenses at the project launch stage, including salaries for specialist mentors. Therefore, various investments will be required at the launch stage, which should also be sought in the cinematography environment or obtain support from the state, like a grant.
Strategic Analysis
Political and economic factors are on the side of this startup for several reasons. The government is interested in increasing GDP, especially within the most promising sector, which promises relatively rapid growth and has not yet exhausted the full potential of exports (Omenugha, 2018). Cinematography is very strongly associated with the music industry and television and radio broadcasting, which the state treasury often funds as the primary media of the country (Akinbolati and Ajewole, 2020). With streaming services becoming ever more accessible, the importance of unique content and the need for specialized talent is growing (Ram et al., 2019). Technological factors require constant support at a high level of the hardware and software used. The technical equipment of the environment is equally essential since there are problems with electricity and logistics, especially in the regions – in the target location of the courses (Babatunde, 2018). A summary table of the PESTLE analysis is shown in Figure 1.
The company’s valuable resources will primarily be the technical equipment of the courses and subsequently the content developed by the students, which the company can use to its advantage. The approach to the geographical location of schools in regions where there will be practically no competition with democratic pricing will be responsible for the rarity. The uniqueness will be human resources of the teachers: their unique approach to long-term but rigorous teaching in a mass group setting. The organizational resource will be an advantage for the company if it succeeds in unleashing students’ creative potential. The uniqueness of this resource lies in the organization of special events that will be massive in the conditions after the pandemic, where students will be able to meet with employers and showcase their work – something like a showcase in cinema (Olugbemi-Gabriel, 2020). The VRIO analysis is presented in Figure 2.
Consequently, based on the two analyses above, a conclusion can be drawn about the strengths and weaknesses of a startup. First, the strengths lie in the geographical location and pricing, which, in a low competition environment, practically guarantees an influx of customers to gain an opportunity to enter a prestigious and high-paying industry. The further development plan and approaches involve holding events first on a city scale than on a national scale to attract new students and develop a promising industry. Weaknesses lie in the need for a solid initial capital or the need to cooperate with film companies. Otherwise, the school will not have access to advanced equipment and software.
Consequently, the weak side creates the opportunity to collaborate with film companies, which will give a clear picture of the demand as the company generates this demand (Husseini and Sunday, 2019). At the first stage, more financially stable and successful metropolitan schools can enter the regional market with a complete set of technical equipment without investment. The underdeveloped infrastructure of some regions can also become a threat to the development of a startup. The SWOT analysis table is presented in Figure 3.
Strategic Plan
Market positioning is dictated by geographic location and low entry prices. As a rule, courses cost a relatively large amount of money, offer a relatively short training period of four to twelve weeks, and do not support students from the regions with various subsidies (Del-York Creative Academy, n.d.; PEFTI Film Institute, 2022). Consequently, the only occupied niche on the positional map plotted on the axes of distance from the capital and affordability is the upper right corner, where all possible schools of cinematography and animation are presented, slightly differing in price. This startup will fill an almost empty niche of cheap and regional courses to search for talents for an emerging industry.
The brand strategy will focus on quality, atmosphere, creativity, and price, with the aim of marketing focus on the opportunities to get an exciting and prestigious profession for a small fee. Events and content will bring reputation to the brand, which can then be distributed through the franchise. The portfolio of services includes both courses, mostly in groups, and mentoring of the most talented students after the courses. Holding events festivals will be a responsible activity of the company and will not be included in the list of services. Finally, the business canvas is defined by core values: an emphasis on regional uniqueness and tradition, atmospheric, long, rigorous group sessions, affordable pricing, and support for talent even after completing the course. A business plan will grow based on the capabilities and strategies described above based on these values.
Digital Marketing Plan
Digital marketing should be presented in the same proportion as non-digital marketing since infrastructure often suffers in the regions, and not every potential client has access to the Internet. The emphasis on the distribution of marketing campaigns online is possible when a certain amount of content is accumulated, and the need and opportunity arise to expand the business to other regions. After the course service concerns those students who want to connect their lives with cinema, the creation of video content on social networks will be ready to spend time with mentors, working directly for the result. This result will subsequently be presented at special events where potential employers search for talent in a rapidly growing industry.
The capital market is satiated with various schools of animation and cinema. The online environment is also full of offers and even videos in the public domain for self-study. However, the critical advantage of a startup will be to provide students with the opportunity to work with accurate technology and software that are used directly in the industry. With these opportunities, students open the way to the cinema and the TV industry, broadcasting, music, and games (Tsai and Chen, 2021). By monetizing content, talented students will be able to increase their income and naturally improve the environmental infrastructure in the region to get new content opportunities.
Operations
The operational activities of the school will be dictated by the environment the creativity of the students. In addition to the main focus of the course and the study of the fundamentals, the focus will be on the creativity of students, and therefore the courses will be pretty flexible and adaptable. The creativity of the younger generation, according to experts, is precisely the factor that will contribute to the promotion of this entertainment industry (Nwekeaku, 2019). Consequently, the school will have broad flexibility and, as a result, more accessible scalability of operations. The need for resources is evident at the first stage of a startup; in the future, the constant support of highly qualified human resources as teachers is required. Potential partnerships and collaborations with film companies, other representatives of the entertainment industry, and the state appear as an opportunity to improve the financial situation at the early stages. Quality control will be determined by the audience viewing the videos and works of students in social networks and other open sources. The physical location will constantly vary depending on the availability of infrastructure, filming with the group, and each day’s goals and aspect of training.
Research & Development
Further expansion is initially geographical: the school can capture other regions before other schools and become the leading regional source of cinematography and animation courses. In addition to geographical expansion, technological development is expected as the brand’s financial success grows. The cutting-edge developments in the film industry are constantly evolving as the world’s technology grows exponentially, including artificial intelligence (Nassar, 2021). Trends, in turn, is the driving force behind content creation in this area, and as the startup grows, there will be a department tasked with following trends in video content across the most popular social networks and cinemas around the world. As a result, the school will constantly keep in mind three directions of development: geographical, technological, and trend. The last two require mandatory development to maintain a startup’s competitiveness.
Organizational Management
The management team will focus on recruiting faculty from the film industry, running the company’s finances, calculating break-even points, and more. After the successful launch of the startup, cooperation with film companies will be worked out to invite their representatives to future events as employers. The most promising students in the regions will get a teaching position in their own or another region if they do not want to leave for the capital. Local laws and relationships are critical external factors that should be considered when choosing a school’s first deployment region. Finally, the costs of hiring human resources in a startup will be evenly distributed as fixed costs of the school and taken into account when building break-even points with a clear plan for the load on teachers and the number of students who pay for the project at a distance.
Reference List
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