A Look into the World of Nigerian Movies Today

Posted by glocalme on January 25th, 2016

It may sound surprising but Nigerian film industry is the second largest in the entire world after Hollywood. The industry has great promises for the investors though there is one small barrier. The barrier is that of informal distribution network on which the movie industry in Nigeria depends.

 Nollywood in Last 3 Years

In the year 2013, over two thousand movies were made in Nigerian Film industry. The trend continued in the year 2014 and 2015 as well and during both these years over two thousand movies were produced. The growth of Nollywood as the Nigerian movie industry is called has been advancement from pillars to post. The industry is also very important for the economy of the country contributing around 1.5% of its overall GBP.

 Popularity All Over African Continent

One of the significance of the movies is that they are not only prominent in Nigerian movie theaters but are circulated around the entire African continent. The string spreads from Ghana through Kenya and South Africa. They enjoy great demands everywhere in the African continent and therefore are one of the potential investment sectors for prospective investors.

 Rise of the Industry

When during the 1960s the film makers in Nigeria had access to the advanced movie making and editing technologies, it gave great impetus to movie making in the country. The growth of Nigerian domestic film industry got a big boost when the Government passed laws limiting the foreign television contents. In result there was substantial growth of Nigerian film production. Nigerian movies were televised on TV channels and were also distributed in form of videos. This also gave rise to the film distribution system in Nigerian market. Nollywood was and continues to be one of the most important pillars of entrepreneurship in the country.

 Home of Technicians

One of the ways that the movie industry in Nigeria was immensely benefited is the rise of numerous talented directors and technicians from the oil rich Nigerian Delta. On the other hand most producers were Lagos based the financial hub of the country. The trend that took a jumpstart since the 1990 continues unabated today. The film industry was also instrumental in triggering the social revolution in the military dictatorship reign of Sani Abacha. The industry got a jumpstart since that time and by 1998 it had flourished into a local film making sector in the country.

 Latest Trend of Movies Online

In recent times there has been immense growth in the trend of viewing Nigerian Films online by viewers all around Africa. Rapid strides made by information technology in the country have resulted in the consequential growth in the numbers of movie viewers online in Nigeria. The trend is also consistently growing with the passage of time.

 Nigerian movie industry faces one challenge however. This is because there are hardly 20 official movie theaters in the country and the industry is largely dependent on informal screening of the products through TV, video, online circulation and CDs and DVDs.

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