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| Photo source: Kunle Afolayan |
(Fortune)--Last year, data was released showing that Nollywood is a
$3 billion industry. It is bigger than Hollywood by volume, and right behind
India’s Bollywood.
In 1992, in Nigeria, electronics salesman Kenneth Nnebue
shot a straight-to-video movie in one month, on a budget of just $12,000. Living in Bondage sold
more than a million copies, mostly by street vendors, and Nollywood – Nigeria’s
movie industry – was born.
By 2009, Nollywood had surpassed Hollywood as the world’s
second largest movie industry by volume, right behind India’s Bollywood. And in
2014, the Nigerian government released data for the first time showing
Nollywood is a $3.3 billion sector, with 1844 movies produced in 2013 alone.
