NOLLYWOOD: How Can A So Called Booming Film Industry Be Full of Hungry Actors and Directors?

NOLLYWOOD: How Can A So Called Booming Film Industry Be Full of Hungry Actors and Directors?

Nollywood makes news headlines as a booming film industry, the second largest in the world after the Bollywood of India in the production of movies estimated to be worth over US$250 million annually which is less than the total budget of Avatar ($280 million), Tangled ($260 million), Spider-Man 3 ($258 million) or Pirates of the Caribbean sequels ($300 million).
See "Nollywood: The Nigerian Film Industry by Harvard Kennedy School on http://www.isc.hbs.edu/pdf/Student_Projects/Nigeria_Film_2008.pdf, which every literate person in Nigeria and others in the world should read

The realities in Nollywood are different from the booming headlines, because majority of the actors and directors are living in poverty from Lagos to Asaba.

Majority of the filmmakers are not well paid for their movies by the leading multinational cable TV network, MultiChoice Nigeria of the MultiChoice Group and many of them just wanted to have their movies on the DStv Channels of MultiChoice such as the Africa Magic for the publicity. Then only few of them smiled to the bank from the box office revenues of their movies distributed and exhibited by local film distributors and cinemas. The cinemas have not been making enough for a so called booming film industry without a film market. The highest grossing Nollywood movie from the box office in Nigeria, Funke Akindele- Bello's "Ọmọ́ Ghetto, The Saga" made less than N700 million which is not even up to the monthly incomes of the co-CEOs of Netflix, Reed Hastings who  earns more than $40.8 million annually and Ted Sarandos who  earns more than $38.2 million annually.
So, Nollywood is still far from the news headlines of a booming film industry.

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