Saturday, April 13, 2013

Nollywood, the Money Making Machine Paying the Actors Peanuts

Nollywood, the Money Making Machine Paying the Actors Peanuts

 Nollywood makes $590 million every year and it has made Jason Njoku, a 32-year-old chemistry graduate a multimillionaire in USD, got him on Forbes Top 10 Young African Millionaires to watch, Africa's largest distributor of Nigerian movies and has made over $12 million since he launched his Iroko Partners the company operating his Iroko TV on the internet.. And Nollywood has created over 1 million jobs so far, making it the largest employer after agriculture in Nigeria, the most populous country in Africa with an estimated population of 170 million people.

“Njoku currently has 71 employees in Lagos, London and New York, and often boasts that these people are working for us in a country with 50% unemployment according Rebecca Moudio’s report published by on April 11, 2013. But in spite of these exciting and thrilling success stories of Jason Njoku and others making millions of dollars from this money making machine, majority of the actors are only earning peanuts.

Omotola Jalade-Ekeinde is among the highest paid actors in Nollywood.
But what she earns is peanuts when compared to even average actors in Bollywood and Hollywood.

 “Even the most popular get paid between $1,000 and $3,000 per film. Only a few can claim higher earnings. Actress Omotola Jalade Ekeinde, one of Nollywood's highest-paid performers, recently topped the charts at 5 million naira ($32,000) per film, “reported Moudio.

Pirates are the biggest earners in Nollywood. 

 “The World Bank estimates that for every legitimate copy sold, nine others are pirated.” Read the full report of Rebecca Moudio on

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