Agence Ecofin TikTok Agence Ecofin Youtube Agence WhatsApp

Comms

Nigeria: Movie industry to rake in $20 million by 2021 (PwC)

Monday, 25 September 2017 15:28

(Ecofin Agency) - Nigeria’s film industry will generate more than $20 million in revenues by 2021. This is according to a report by PwC entitled “Entertainment and Media Outlook 2017-2021: An African perspective”.

According to the report, these revenues which in 2016 were estimated at $14.4 million should grow steadily till 2021 when they, including the national box-office and advert earnings, will reach $21.9 million.

This growth will be driven by the high productivity of Nollywood which makes Nigeria the second country, worldwide, to produce the most movies yearly, with around 2,500 films. India is the largest filmmaker globally.

According to the International Monetary Fund (IMF), Nollywood has generated in 2016, 1.4% of Nigeria’s GDP. However, with PwC’s actual forecasts, one could expect this contribution to increase significantly. This is even more likely considering the various efforts mustered by Nigerian producers to fight piracy.

Servan Ahougnon

 
Finance


 
Mining


 
Telecom


 
Public Management


ECOFIN AGENCY offers a selection of articles translated from AGENCE ECOFIN. Founded in 2011, Agence Ecofin is a leader in Francophone Pan-African economic news, particularly in West and Central Africa. The agency publishes daily news on nine African economic sectors: Public Management, Finance, ICT, Agribusiness, Energy, Mining, Transport & Logistics, Communication, and Training.

AGENCE ECOFIN
Mediamania Sarl
Rue du Léman, 6
1201 Genève
Tél: +41 22 301 96 11

EDITORIAL TEAM
redaction@agenceecofin.com

ADVERTISING SALES
Benjamin FLAUX
bf@agenceecofin.com
Tél: +41 22 301 96 11
Mob: +41 78 699 13 72

 

Please publish modules in offcanvas position.