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Essay On Nollywood Industry

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Abstract Film making first began towards the end of the 18th century and during that time since technology was not advanced the films were of extremely short duration and did not have any sound. But with technological advancement in the next few years film making became gradually advanced. Slowly films were appreciated all over the globe and soon found its entry into Nigeria. Films became popular in Nigeria and the local film industry soon became popularly known as ‘Nollywood’ similar to Hollywood being globally known for US film industry. As per recent estimates the number of films produced annually in Nollywood is around 2000 which is much higher than the US and India. With an average release of around 50 movies per week, Nollywood is far ahead as compared to Hollywood and Bollywood. Main Body …show more content…

Even in revenue terms it is leading and in a short span of a slightly over a decade Nollywood has grown into a USD $250 MN industry. Nollywood employs thousands of people and is the second largest employer, employing approximately 1 million people. Most of the people employed here work as actors, producers, directors and as cameramen. Several other related jobs also provide employment to thousands of people – some of them being employed as make-up artists, production crew, spot boys etc. Even young people who do not have any formal education manage to get a job here due to the high demand and shortage of people. Some of key reasons for the success of Nollywood is because of the entrepreneurship mindset and increased usage of digital technology. The Nigerian film industry currently generates revenues of approx. USD $800 million annually and contributes USD $600 million dollars for the Nigerian economy. Almost two thirds of the film produced in Nollywood are in English which shows that the liking of English films in Nigeria and increase of export of Nollywood films

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