BY ESE DIBEBI
At the rate at which Nollywood is growing, several questions are being thrown up.
Will Nollywood only threaten and not become the “real deal?” Can Nollywood ever overtake Hollywood? Will piracy ever stop?
Most of these questions might not get answered by anyone apart from time.
However, Carlos Lopes, the executive secretary of the United Nation’s Economic Commission for Africa (UNECA) has attempted to place the Nigerian movie industry in the year 2030 and predict how big it will be by then.
In an interview with Mail & Guardian Africa, Lopes who is a research master from the Geneva Graduate Institute of International and Development Studies said he expects Nollywood to become more African and less Nigerian as well as overtake India’s Bollywood in earnings.
“Creative industries are already huge in Africa and I bet, it could match agriculture in value. However this is due to low agricultural productivity, the lowest in the world, and the fact that creative industries are being propelled by new communication technologies. Africans and their diaspora demonstrate daily the richness and universal appeal of their forms of artistic and cultural expression. If we update national accounts through rebasing, like Nigeria and many others did, we will continue to be surprised about the exponential value growth,” Carlos Lopes stated.
He continued, “Nollywood will expand to become more African and less Nigerian, overtaking India’s Bollywood in earnings, when demand for entertainment content will explode thanks to internet and tv universal coverage in less than a decade.“
Click here to read the full interview.