According to an recent Nigerian Communications Commission (NCC) report, there are over 127 million active GSM subscribers in Nigeria. Of those 127 million subscribers, over 25% spend as much as US $10 monthly to view Nollywood movies on their smart phones and tablets. This adds up to over $250 million monthly and $3 billion annually in Nigeria alone.
When you factor in the number of Nollywood movie viewers across Africa and the Diaspora, there are over 100 million potential Nollywood viewers. Indiewire.com estimates that Nigeria’s version of Hollywood can possibly generate over $7 billion annually off of mobile videos.
Check out IndieWire‘s analysis of Nollywood’s revenue generating potential for a full breakdown of how the Nigerian film industry can reach these astronomical numbers.
[VIDEO] Nigerian Mobile Video Market Worth More Than $7 Billion Annually was originally published on newsone.com