By Tadeniawo Collins
According to a report by BusinessDay, Orya said: ‘Nollywood produces about 50 movies per week, making it the second largest film industry in the world, behind India’s Bollywood, in terms of volume of production. In revenue, Nollywood is third, behind Hollywood and Bollywood. Current estimates put its annual revenue at an impressive $590 million.’
He added that: ‘Africa Renewal, a publication of the United Nations, reported in its May 2013 edition that the African film industry (in which Nollywood is by far the dominant player), would contribute significantly to the expected 5.2 percent GDP growth projection for the continent last year.’
Last year, Ayo Makun’s film ‘30 Days in Atlanta’ was adjudged as the film with the highest revenue, reportedly making N76m in seven weeks of showing on cinema screens across the country.
However as at January 2015, Kene Mkparu, CEO, Filmhouse Cinemas said ‘30 Days in Atlanta’ had surpassed the N76m December 2014 mark, as it had made N135m and still counting.
Kene explained: ‘The new distribution line makes it possible for us to track the success and sales of a movie at the cinema. Currently Nollywood films are in high demand, more than American films. You won’t believe it that ‘30 Days in Atlanta’ beats American film ‘Avengers’ at the cinemas.’
1 comment
Something to cheer about.