Popularly known as Nollywood, Nigeria’s film industry is the world’s second-largest producer of commercial cinema, and also accounts for 5% of Nigeria’s GDP. It is estimated that over 2,500 movies are produced each year in Nollywood with the industry employing more than a million people. Ingenuity and resourcefulness have always been a trademark of Nollywood, from homemade movies to ground-breaking blockbusters over the past decade. But the industry is not without its share of controversies. On the one hand, you have the never-say-die attitude of Nigerians combined with the glitzy and glamorous red-carpet events with celebrities attracting multi-million-naira brand endorsements. But underneath, the industry is characterized by a lack of funding and piracy, which has consistently robbed filmmakers of their revenues. But Covid-19 has led to a halt in Nollywood production decimating millions of dollars in earnings for the industry. The pandemic’s arrival has led to producers looking at new ways of staying afloat as well as focusing on higher-quality movies for streaming giants like Netflix and Amazon who are hoping to take a slice of the 200-million content market. FORBES AFRICA spoke with three of the key players in Nollywood to find out about the current state of the industry and what trends will affect its future.
‘Nollywood Offers A Gateway To A New Opportunity In Africa’
Mo Abudu, CEO, EbonyLife Media
This story is from the October - November 2020 edition of Forbes Africa.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber ? Sign In
This story is from the October - November 2020 edition of Forbes Africa.
Start your 7-day Magzter GOLD free trial to access thousands of curated premium stories, and 8,500+ magazines and newspapers.
Already a subscriber? Sign In
Down To Earth
A new era in satellite technology offers space-down insight. Here are some fascinating world views.
Could A Digital Twin Save Your Life?
Human digital twins are quickly moving beyond manufacturing and into the medical world advancing cancer care, soeeding up drug development, personalizing clinical trials, and much more.
The All-Rounder In Ecotourism
An exclusive interview with renowned Kenya-born landscape architect and pioneer of sustainable tourism Hitesh Mehta. His other fascinating career? Representing East Africa and Kenya in first-class cricket and playing in three ICC World Cup tournaments in the late 1970s and 1980s.
Wheeler-Deeler
Alex Bouaziz’s HR company became the fastest-growing software startup in Silicon Valley history by promising to take the pain out of overseas hiring. But in its rush to a $12 billion valuation, regulators worry it may have been cutting the very compliance corners it’s supposedly maintaining.
Culture Couture
Niger designer Alia Baré, also the daughter of a former president, is working to weave together a positive narrative of her country through fashion.
'We Can Build A Real Unicorn Out Of Africa, Creating Impact'
Manish Sardana, the Nairobi-based co-founder of edtech startup Craydel, wants to democratize access to higher education in Africa and eradicate the study-abroad agent market.
A Record Year For Elections, 2024 Will Determine Global Geopolitics
We are all hopeful that 2024 will definitely bring better sense to people, particularly to those in power to make sincere amends to the lapses of the past.
For The Record
A Brazilian producer and a Kenyan singer came together to create a song last year that sOared ujp music charts globally, and in collaborating With a an India-born director for the video, it is NOW a milestone for African sound.
The Best Game
SA20 Commissioner and former South African cricketer Graeme Smith on the ambition to create the biggest league outside of India, and why putting on a show off the pitch is as important to attract a new audience.
Cream Of The Crop
Food is the future and these proactive startups are focused on shifting agricultural practices to prepare for what is to come.
