This week brings great news for Nigeria’s entertainment industry. CNN reports about its booming music industry and following closely is UNESCO’s report that Nigeria’s film industry has overtaken Hollywood! You don’t say? Not particularly surprising since the costs of producing Hollywood flicks remains astronomical!
Hollywood would do best to team up with Nollywood [Nigeria’s movie industry] to see how they can produce films at a cost substantially lower than what they currently do. Otherwise, expect more film industries like Nollywood and Bollywood [India’s film industry] to continue to gain momentum and surpass Hollywood.
“The Nigerian film industry has overtaken Hollywood and closed the gap on India, the global leader in the number of movies produced each year, according to a new United Nations Educational, Scientific and Cultural Organization (UNESCO) report released today.
According to the UNESCO Institute for Statistics (UIS) survey, Bollywood – as the Mumbai-based film industry is known – produced 1,091 feature-length films in 2006. In comparison, Nigeria’s moviemakers, commonly known as Nollywood, came out with 872 productions – all in video format – while the United States produced 485 major films.” Read the rest here.
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