Dentsu’s Story Lab signs a $50 million investment agreement with LaVida Studios.

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The Story Lab U.S. of Denstu has signed a three-year investment agreement with Nigeria’s LaVida studios.

Scripted and unscripted film and television projects will be the focus of the studio’s 10-slate production under the $50 million agreement, according to Variety.

All projects for The Story Lab that take place in Africa will be handled by LaVida Studios.

Additionally, Denstu has disclosed a cooperative project with the African International Film Festival (AFRIFF) designed to support African writers in producing original African stories that are popular throughout the world.

We are thrilled to be working together with Dentsu and its The Story Lab team in the U.S. to bring authentic and compelling African stories to the world,” AFRIFF founder and managing partner of LaVida Studios, Chioma Ude, confirmed the recently signed agreement.

Geneva Wasserman, executive vice president and director of scripted content at The Story Lab, added:

The combination of LaVida’s partnerships with top Nigerian creators and Dentsu’s global network and presence will serve as a bridge between these top content creators and the global market through this collaboration. We are honored to bring these stories to the world.”

The $100 million PanAfrican CCI Fund 1 of PAC Capital, which was established to support film production and distribution in Africa, is being used to access the $50 million fund.

Ohenebakayy is a Broadcast Journalist, and a pianist. He loves to write about trending stories in the world of entertainment. Ohene loves to read, listen to a lot of music and spends time playing the piano. You can reach him on+233241412892.

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