Biography of Jason Njoku
Jason Chukwuma Njoku is a British-Nigerian serial entrepreneur, film magnate, and African start-up investor. He is the founder of Iroko TV, the world’s largest digital distributor of Nigerian movies. Iroko TV is termed ‘Netflix of Africa’. Jason is an experienced entrepreneur with a series of success and failure stories.
Early life and background of Jason Njoku
Jason Njoku was born on the 11th of December, 1980 in Deptford, South London. He and his siblings were single handedly raised by their mother who worked a full time job in the National Health Service. He started schooling in London before moving to his hometown at age 12. At age15, he moved back to London and completed his A’levels before proceeding to study Chemistry at the University of Manchester. Upon graduation, he launched Brash Magazine, a student publication which ran for two years before its closure in 2015.
His Rise to Fame
After graduating from the University, he tried his hands on a couple of businesses which included a blog network, a T-shirt business and a web design company. His business enterprises turned out unsuccessful forcing him to move back to his mother’s apartment in Deptford. It was at this period that the idea of online Nollywood streaming and distribution platform emerged. The idea was birthed after several attempts to get some Nollywood movies for his mum in London. He saw a huge gap and opportunity so he maximised it. This saw him coming back to Lagos, Nigeria to understudy the industry. Through the financial support of his best friend, Bastian Gotter, a fellow University of Manchester graduate, he purchased the online licences of Nollywood movies.
His Entrepreneurial Exploits
In 2010, Jason and Bastian launched NollywoodLove, a YouTube channel, which was profitable within two months of launch. That same year, NollywoodLove caught the attention of US-based venture capital fund Tiger Global, early investors in Facebook who showed interest and formed alliance with the emerging markets. That same year, the company secured Series A investment of $3 million from Tiger Global which was utilised in the launching of video-on-demand movie platform, iROKOtv, on December 1, 2011. The site garnered viewers from over 178 countries.
iROKOtv is a part of iROKO Partners with subsidiary iROKING, an online music platform where selected African music can be streamed. The company grew over the years, diversifying its distribution model from streaming content to linear TV market. 2015 saw the launching of its first TV channels, iROKO Play and iROKO Plus on Star Times. Also an Android mobile app was launched in order to reduce the broadband infrastructure problems faced by Africa.
Subsidiaries of Iroko Partners
ROK Studios
A subsidiary of Iroko partners which centres on the creation, production and financing of Nigerian films and TV series. The company has produced TV series like Festac Town, Aso Ebi, Cougars and Husbands of Lagos. In 2016, ROK channels were launched on Sky (channel 344) and DSTV (channel 168).
iROKO X
This platform created an avenue for African filmmakers, musicians and young talent to produce, distribute and monetize short film content on global networks such as iTunes, Google play and YouTube.
iROKO Global
This subsidiary company deals with the content distribution and licensing division of Iroko Partners. The company collaborated with international platform such as StarTimes, Zulu to authorize Iroko’s expansive library of Nollywood films and TV series.
iROKO Music
This is a 100% Nigerian Afrobeats music and Lifestyle channel. iROKO formed alliance with CANAL+ International to bring Nigerian music to French Speaking African countries.
As the enterprise flourish, the company secured an additional $22million investment fund from some international venture capitals which was used in expanding the film catalogue, upgrading the company’s technology resource and establishing offices in Lagos, London and New York. In July 2012, the serial entrepreneur was listed as one of Forbes 10 young African millionaires to watch.
The Irokotv boss established SPARK, an investment company with Bastain Gotter and Mary Remmy Njoku in 2013. Initially, the company invested in a couple of companies including a drinks distribution company called Drinks.ng, a real-estate and property online letting agency called ToLet.com.ng, and a hotel room booking site, called Hotels.ng. In 2015, he announced via a blog post the failure of four businesses: Bus.com.ng (an online bus ticketing service ), Insured.ng (an insurance comparison platform), Giddimint.com.ng (an online fashion store) and Christians.ng, an online dating platform for Christians. He has also invested in Blackbet NG, an online sports betting brand.
Jason Njoku’s Relationship and Family Life
Jason Njoku is married to Nollywood actress and producer, Mary Remmy Njoku. They are blessed with three children – Obinna, Nwakaego and Nnenna.
Awards and Recognitions
The tech entrepreneur in the course of his career has amassed several awards and accolades.
Forbes’ Ten Young Africa Millionaires to Watch (2012)
Entrepreneur of the Year (Technology) at the Future Awards (2012)
Young Leader of the Year for West Africa at CNBC All Africa Business Awards (2013)
1000 Most Creative People in Business (2014)
Outstanding Industry Achievement at West Africa Mobile Awards (2016)
Jason Njoku’s Net Worth
The maverick Nigerian internet entrepreneur is estimated to be worth $40 million dollars.
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