A new report by CNN published today, 10, July, 2015 titled ‘More than feuds and dramas, Nollywood is a mighty economic machine.’
Read excerpts from the article: –
They used to be the preserve of informal home gatherings around old flickering TV sets, but Nollywood films have now gone global. Movie streaming giant Netflix has dedicated an entire section to Nigeria’s mega film industry, so rather than having to buy a DVD, viewers around the world can now get their fix of Nigerian drama straight to their computer screens. Nollywood is notorious for churning out hundreds of movies per month, capturing viewers with stories ranging from romance and drama to comedy and witchcraft.
Nigeria’s film industry pumps out around 50 movies per week and is estimated to generate around $600 million annually for the country’s economy. With more than 1,200 films a year, it’s the world’s second biggest producer behind India. Nollywood is also Nigeria’s second biggest provider of work, employing directly or indirectly more than one million people.
The writer goes on to list Jeta Amata, Genevieve Nnaji, Omotola Jalade Ekeinde, and Ramsey Nouah as Nollywood’s most recognizable faces.
In addition, Â Veselinovic talks about a new wave of filmmakers who want to shake off Nollywoodâ€™s reputation for shoddy productions is emerging. Dubbed the New Nigeria cinema, these young professionals want to create a movie industry which can compete with Hollywood â€” not just in quantity but also quality.