Cinema234, a project spearheaded by Doodle-Film Hub Ltd., is set to launch a new cinema model targeting 50 million viewers, Cinema234 founder, Yinka Ade-Aluko, has said.
Ade-Aluko, who is also Chief Executive Officer (CEO), Doodle-Film Hub, disclosed this in a statement issued in Abuja on Saturday.
“The new cinema concept signals the end of the beginning of the borrowed cinema model in Nigeria, and its arrival is also designed to dance to people’s dreams.
“While the borrowed model targets the fortune 500,000 elites, cinema234 targets the fortunate 50 million masses,” Ade-Aluko said.
According to him, the upcoming cinema model is designed to transform traditional filmmaking and viewing experiences, particularly focusing on engaging and empowering the youths’ communities in Nigeria and across the African continent.
“Distinguished by its innovative strategies for production, monetization, and exhibition, the project aspires to redefine the way films are created and consumed.”
The Cinema234 founder while elaborating on the vision behind the initiative, emphasised the importance of building a robust ecosystem that includes key stakeholders in the film industry, such as filmmakers, investors, theatre enthusiasts and academics, and local communities.
“This collaborative approach aims to revitalise the cinema landscape and provide meaningful opportunities for engagement among youths.
“By leveraging technology, Doodle-Film Hub plans to introduce a user-friendly web application that will map out various market segments and facilitate the connection between filmmakers and audiences across Nigeria and beyond.
“Cinema234 seeks to establish a decentralised, domesticated, and democratised cinema model, which is particularly responsive to the needs of local communities by not only providing the cinema experience but with pocket-friendly pricing and the right and impactful contents.
“The initiative is committed to ensuring a steady supply of diverse content through its well-integrated ecosystem.
“This ecosystem is not only focused on curating films that reflect local cultures and narratives but also incorporates revenue models that promise predictability and sustainability,” Cinema234 founder said.
According to him, one of the key elements of this model is a subscription-based application that will serve as a primary source of revenue, in addition to various other income streams from conventional and innovative distribution channels.
He said that such would be added to economic benefits as the initiative set to enhance the cinematic experience by offering community-based and culturally enriching content at its theatres.
“This focus on local narratives is expected to resonate with audiences, fostering a sense of ownership and pride in the films produced and showcased through Cinema234.
“The emphasis on accessibility will be maintained through affordably low-cost theatres positioned strategically across different regions and cities, making cinema an available and enjoyable experience for all.
“Moreover, the project showcases a strong financial outlook forecast, projecting a remarkable Return On Investment (ROI) attributed to an anticipated growth rate of over 50 per cent within the first year of operation.
“This forecast is based on an analysed facts and data with its ambitious investment strategies that aim to raise N3 billion equity through a combination of pre-launch and launch funding efforts.
“Such a significant funding goal underscores the confidence that the founder and the stakeholders that are already committed to the project have in Cinema234’s potential to revolutionise the cinema experience in Nigeria.
“And potentially set a precedent for similar initiatives throughout Africa,” he said.
Ade-Aluko said that Cinema234 represented a fresh and transformative approach to the cinematic landscape, restoring the essence of cinema and upholding the real value of filmmaking.
According to him, this initiative is aimed to empower youth, foster community engagement, and deliver culturally relevant and impactful contents.
“With its innovative model, strategic partnerships, and a clear focus on sustainable growth, Cinema234 is poised to make a significant impact on the film industry both locally and across the continent”.
