THE NIGERIAN MOVIE INDUSTRY (NOLLYWOOD) – THE ORIGIN (HISTORY)
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with the Industry’s antecedent of making movies on extremely low budgets compared to other movie bodies in other countries, (- ,000 initially), but currently stretches to ,000, with a microscopic number of producers further stretching the seemingly financial limit to N 7,10,20 Million and more. The movies were and are still shot dominantly between 10-12 days, via Beta cam (now HDV cameras), were produced in the VHS format (now VCD & DVD), replicated in mass and sold by the Marketers who also doubled as Distributors.
Over a thousand movies were being churned out yearly by producers and utterly amazed by the staggering statistical data of movie productions, the International movie spotlight was shone on the Multi Million naira Industry “Nollywood”. The Industry’s net worth as at 2008 stood between an estimated 0 and 0 Million dollars.
