Nigerian film industry popularly known as “NOLLYWOOD” has really come a long way. A lot of progress has been made coming from an era where movie making in Africa was no mean feat largely due to the non-existent of movie making technology.
The Nigerian film industry is today the second largest in the world ahead of the united states and behind it’s indian counterpart which holds the number one spot. With ever increasing demand around the world, it’s impact has gone beyond the African continent with actors enjoying celebrity status elsewhere.
As Nigeria wrestles with the realities of recession, the entertainment industry seems to be bubbling. While companies in other sectors including oil were busy retrenching workers and cutting salaries, the entertainment industry was doing the opposite. Actors, Actresses, Artistes and others were busy going on set, making movies and music, going for shows and smiling to the bank.
It is worthy of note that all over Africa, it is only Nigerian celebrities that fly private jets for shows and other public functions.
It is only Nigerian Celebrities that collect over 100000 Dollars for a single show.
The Nigerian entertainment brand have undoubtedly gained wide acceptance on the global stage with many dance steps and slangs which originated from Nigerian becoming a household name around the world.
We have seen this sector packing out venues and major players receiving the most awards based on merit at home and abroad.
Movies like Dinner, The wedding Party and A trip to Jamaica has been raking in millions in sales in various cinemas at home and abroad.
We also saw Nigerian female singer Tiwa Savage and ace singer Davido signing major management deal with Roc Nation and Sony Music Entertainment respectively.
The entertainment industry has proven that it has enormous potentials to become a major source of revenue for the Nation.