iROKOtv passes half million subs in six months

African digital video service iRokotv, dubbed the “Netflix of Africa”, has reached 500,000 subscribers in its first six months of launch.

This comes after the company secured US$8 million (€6.4 million) in funding from US-based hedge fund Tiger Global, an early investor in Facebook. The company, which is based in Lagos, Nigeria and has offices in London and New York, offers a raft of Nollywood films to the African Diaspora, with viewers from 178 countries around the world.

In July, iRokotv, which launched in December 2011, is launching a subscription service where viewers will be able to retain free access to the current catalogue of Nollywood films but will also be able to watch brand new releases for US$5 per month.

Jason Njoku, CEO and founder of iRoko said: “What an incredible six months it has been for iRokotv – 500,000 subscribers in under six months is an awesome feat for us. We are a relatively young start-up and are super excited to have built up such momentum in such a short space of time.