Nollywood 'Film industry will overtake Bollywood in earnings by 2030' - UN Executive Secretary

How big do you think Nollywood can get by 2030? Carlos Lopez, the executive secretary of the UN’s Economic Commission for Africa, is of the opinion that it will overtake Bollywood in earnings.

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Carlos Lopez is the executive secretary of the UN’s Economic Commission for Africa (UNECA). A development economist, author and educator.

In a recent interview with Mail & Guardian Africa’s Editor Charles Onyango-Obbo, Lopez spoke on several interesting topics, including Nollywood.

 

Speaking on how big the industry will be in 2030, he said;

"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.

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," he said.

ALSO READ: 9 THINGS I DISCOVERED ABOUT NOLLYWOOD IN 2015

How possible do you think it is for Nollywood to overtake Bollywood in the future?

Watch Biyi Bandele talk Nollywood in interview with Pulse Nigeria;

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