Every element of the African movie industry is entirely questionable. From the collaboration of filmmakers to the highest grossing movie of each year, it is always good to elaborate on stats and data. Many people also ask if there is a market for African movies. You can take a look at the stats and data we gathered and hopefully it answers that question.
Globally, film industries show a sound forecast for the coming years. Global box office revenue is forecasted to increase from the 2018 record of 34 billion U.S. dollars to 50 billion U.S. dollars by 2020. However, Nollywood the largest movie industry in Africa falls far behind Bollywood and Hollywood as a ticket-selling market. Although the industry still generates about $600 million annually for Nigeria’s economy.
What the market for African movies look like so far
South Africa, like Nigeria, does not rank on the first five global leading box office markets, but it does rank as the leading market in Africa. According to a recent survey, less than 50 per cent in Africa goes to the movies at all. This is considerably low in comparison to the other number of people who prefer to sit at home and watch movies.
The cost of going to the cinemas keep growing and so is the audience. These factors are intertwined and calculations show that this trend is not about to change. Currently, the average actual price of a movie ticket in Nigeria and South Africa is around 5.56 in U.S dollars. It is also estimated that movie entrance in Africa will increase by 65 -70 per cent in 2019.
This is an overview of how the African film industries, at least the most popular ones are faring in 2019. The stats provided is to give you a general information. Nollymania does not assume responsibility for the accuracy of the information given. Changes, updates, and differences in the African film industries could alter data. This statistics is only sufficient as a short term piece of information.
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