The entertainment industry has two major players, namely Hollywood and Nollywood. Big-budget films and blockbuster hits are known with the latter name while low-budget production and unique storytelling are associated with the former. In this blog post, we will compare Hollywood and Nollywood to see how they compare in terms of popularity, revenue and cultural impact.
Popularity
Hollywood is an internationally recognized name. This means that millions of people watch its films daily while its actors are among the most famous globally. Conversely outside Africa only few know what Nollywood entails. Nonetheless as many as several millions of people watch Nollywood movies daily in Africa alone.Therefore,Nollywood’s popularity is increasing at a fast rate hence it is likely to become a global trend soon.
Revenue
Hollywood is clearly the most financially successful in the film industry, whose movies can earn billions of dollars yearly as its studios are among the most highly profitable worldwide. On the other hand, Hollywood films make more money than Nollywood’s ones. But still it is a billionaire venture and each year, its revenue increases. Meanwhile, it is worth mentioning that Nollywood keeps producing low-budget films to enable it make profits even with a small viewership.
In an interview held at his office where he stood on defense for Nollywood’s $6.4 billion financial value (second after Hollywood) Young-Tobi Ekechi described Nollywood as one of world's fastest-growing movie industries and biggest employers of labour in Nigeria.
Cultural Impact
Hollywood has had significant cultural impacts across the globe. Through fashion trends, music and even politics; many films from this region become trendsetters worldwide. Furthermore, Hollywood movies depict American culture and often influence global perception of USA. In less contrast however, Nollywood has made significant cultural impacts within Africa because their movies mostly focus on various social issues which represent African culture itself hence these movies have contributed towards shaping an African identity in terms of global entertainment industry by giving Africans a voice amongst others.
Conclusion
In conclusion, Hollywood and Nollywood are two very different industries, but they both have their strengths. Hollywood is known for its big-budget productions and global appeal, while Nollywood is famous for its unique storytelling and low-budget productions. While Hollywood is currently the more popular and profitable of the two, Nollywood is rapidly growing and has the potential to become a major player in the global entertainment industry. Both industries have had a significant cultural impact on the world and will continue to do so in the future.Certainly, the acclaimed place of the American film industry functions as a standard of success and technological advancement. In addition, there is this glamour and glitz associated with its actors and events. Subsequently, when people start comparing Nollywood to Hollywood it should be about whether Nigeria’s film industry is going in the direction of achieving the celebrity heights where its US counterpart is.
The quality of movies produced can be deduced from it, how often these works are made? How many moviegoers get a chance to see them as well as enjoy their content? How many ‘brick-and-mortar’ showrooms and internet platforms exist for those who love these films to access them? The way leading players in Nollywood present themselves outside Nigeria, star presence at home. And also other aspects of the industry like awards shows, films on general release, merchandising, TV rights among others.
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