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