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Home » ‘There is no business like show business’ -Utchay

‘There is no business like show business’ -Utchay

PRINCEWILL UTCHAY is an accomplished business mogul who has spread his tentacles into the entertainment industry through Oxygen, where he is the Chairman of the Board. In this interview with Associate Editor, KEMI AJUMOBI, he shares on the business of entertainment and the need to nurture young talents. Excerpts.

Princewill Utchay is an experienced and accomplished businessman with vast knowledge of both local and international business environments. He studied Marketing at the New York Institute of Technology, New York, and has over the years gathered a wealth of business experience spanning diverse sectors. He is Chairman Prime Group, which comprises of Prime Seafoods International Limited and Prime Chinese Restaurants Limited. He is an authority in the seafood industry with over 25 years’ experience in trawling and aqua-culture, and has won awards for both seafood processing and export.

He is the current President of the Institute of Export Operations and Management (IEOM), which is the foremost provider of export training and best practice research in Nigeria. He is also a Director of Misol Technology Solutions Limited, a company focused on the development of marginal fields, gas fields as well as providing other marine, engineering and technological services.

As Chairman of Oxygen, he has hosted a variety of live events and shows over the years, as well as being a pioneering member of ADCI (Athletes in Diaspora Community Intervention), where he partnered with NFL stars to provide medical outreach and community development programmes to less privileged youths around Nigeria.

You are diversified in your business, why the special passion for promoting entertainment? In what ways have you been involved?

As a businessman, having already cut my teeth in the seafood business, I am able to apply the same techniques and skills to other businesses in diverse sectors.

Entertainment has been a passion from my youth. I organised a lot of social events, parties and more. Today, I look around and see a lot of talented Nigerian youths, who need some assistance in order to maximise their potential. I believe I can mentor them, pass my experience on, and help provide them with the kind of opportunities or contacts they need to become very successful. It is also about showcasing our music and culture to the world. This is a growing space in Nigeria and every support, financial or otherwise will go a long way.

Prior to Oxygen, I participated in other projects, such as the ADCI (Athletes in Diaspora Community Intervention), which brought NFL stars in the United States like Amobi Okoye, Osi Umenyiora (two-time MVP), Israel Idonije, Tom Harris (US), Adewale Adeleye and more to Nigeria. The ADCI organised several outreaches in underserved communities, primarily through medical teams and sports clinics.

What is it about Oxygen that makes the company tick?

Oxygen is a full-service entertainment company, with services including but not limited to talent management, sports, fashion, live events, film and television enterprise. Our aim is to scout for, groom, and expose Nigerian talent to the world, with a view to producing globally appealing and marketable end products. We are nurturing them for global relevance.

We are doing this because young talents often bring fresh perspectives, innovative ideas, and creative solutions to the table. By nurturing these talents, the society can learn from them and can tap into their creativity and ability to think outside the box. They are also typically more adaptable and open to change. They are quick to embrace new technologies, trends, and ways of doing things.

The technological savviness of the younger generation is worthy of mention. They have grown up in a digital era and are often well-versed in the latest technologies.

Another brilliant attribute is that these young talents are more globally connected and culturally diverse than ever before. They have access to a wealth of information, global networks, and cross-cultural experiences, many of them just need that major break, and that is what Oxygen is positioned to do.

In a nutshell, we give breath to raw talents and nurture them for the global stage.

Read also: Entertainment sector is a potential ‘Rocket Fuel’ for economic growth— Asika

Oxygen has been in the news recently, why so, why now?

It has long been our desire to work with foreign partners in order to ensure our entry into the global space. Pinnacle MENA knocking on our door is a welcome development and will help us penetrate more foreign markets. It is a great partnership, which is very much in line with Oxygen’s vision to support local talent and equip them with the right tools and opportunities for global success.

Our current project is a fantastic initiative called Project 180, which will span ten states across Nigeria. The goal is not only to showcase Nigeria‘s cultural diversity, but ultimately to also select and empower local charities that work in underserved communities.

Who are the board members and what are their roles?

Oxygen has four able directors. We have Stan Mukoro, a marketing professional with many years’ experience and contacts in Bentley USA and Mercedes Benz USA. Ishan Mbelu, an IT and brand expert with global experience, Alex Muoka Esq., an accomplished lawyer who handles our legal affairs, and I am the Chairman of the Board.

With a background in Marketing from the New York Institute of Technology, you understand the role marketing plays in the success of any business. Tell us more about this and how it has helped your businesses?

Marketing is key. Regardless of the kind of business, without marketing there will not be any revenue. Marketing plays a crucial role in the success of any business. It involves activities and strategies aimed at promoting, selling, and delivering products or services to customers. Whatever product you have will be boosted by marketing.

Marketing helps to creating awareness about products or services among the target audience. By effectively promoting and communicating the features, benefits, and value proposition of their offerings, businesses can attract potential customers and generate interest.

The second thing is that it helps in building brand identity, and this encompasses the creation of a unique brand image, positioning, and messaging that differentiates a business from its competitors.

The third thing is that it helps in generating leads and sales. This is done by identifying and targeting the right audience, marketing activities such as advertising, content marketing, email marketing, social media marketing, and search engine optimisation (SEO) can attract potential customers, nurture them through the sales funnel, and convert them into paying customers.

The fourth is that it helps with customer relationship management. The fifth is that it encourages competitive advantage, by understanding your competitors’ strengths and weaknesses, businesses can develop strategies to differentiate themselves and highlight their unique selling points.

The sixth and final one is that marketing plays a crucial role in adapting to changes in the market environment. This flexibility allows businesses to stay relevant and seize new opportunities as they arise.

Stan is Oxygen’s Marketing Director, and he is fantastic at it.

As someone who has played in both local and international business environments, what will you define as the business of entertainment?

The simple answer is that there is no business like show business.

The business of entertainment refers to the industry involved in creating, producing, marketing, and distributing various forms of entertainment content for the purpose of engaging and entertaining audiences. It encompasses a wide range of sectors and sub-industries, including: Film and television, music, live performances and events, gaming and interactive entertainment, publishing and print media, celebrity talent management and digital content creation to mention a few. The industry is driven by the demand for entertainment and the desire of audiences to be entertained, informed, and engaged through various forms of media and experiences.

Nigeria and Nigerians understand this, and we are glad to be among those who get it.

What should people be expecting from Oxygen?

As the name Oxygen implies, we bring life to anything that is stifled or stagnating. We have come to help, to refresh, and to make a real difference.

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