Is Nollywood the New Hollywood?
Valued at about five billion dollars in 2014, the world’s second largest film industry holds much promise for investors; with the main barrier to future growth being the industry’s informal distribution network.
As one of the largest film industries in the world, behind only India’s Bollywood, Nigeria released over 2,000 films in 2013. This trumps even Hollywood in terms of films produced. Since the 1990s, “Nollywood,” as it is fondly known, has rapidly grown in line with Nigeria’s economic growth. The industry now contributes about 1.4% to the country’s GDP
Nollywood movies are not only prevalent in…