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Media (R)evolutions: Film industry will grow in coming years- mostly in Asia Pacific

Roxanne Bauer's picture

New developments and curiosities from a changing global media landscape: People, Spaces, Deliberation brings trends and events to your attention that illustrate that tomorrow's media environment will look very different from today's, and will have little resemblance to yesterday's.

The film industry will see a great deal of movement and huge shifts in audiences over the next five years, but will be strong overall. Much of the growth will be attributable to a 12% growth rate in the Asia Pacific region.  Predominant areas of growth will include box office revenue, electronic home entertainment, event cinema, and local-language production throughout the world.  Video game adaptations are also growing rapidly. For example, Universal Pictures released “Warcraft” in the U.S. on June 10, garnering dismal reviews and only $45.9 million at the box office since then, while in China the film made $65.1 million in its opening weekend and a total of $ $219.7 million by the end of June, where it was supported by an elaborate marketing campaign. Thanks to these robust Chinese earnings and another $412.6 million world-wide it became the highest grossing film adaptation of a videogame ever.

This graph shows strong growth across the film industry, according to PricewaterhouseCoopers' annual Global Entertainment and Media Outlook and reported in The Hollywood Reporter.


Media (R)evolutions: The epic Nollywood machine

Roxanne Bauer's picture

New developments and curiosities from a changing global media landscape: People, Spaces, Deliberation brings trends and events to your attention that illustrate that tomorrow's media environment will look very different from today's, and will have little resemblance to yesterday's.

Many global citizens recognize Hollywood films— they are easily identified by their high production values and mostly predictable storylines.  Many also recognize Bollywood films, with their glamor, romanticism, and show tunes.  However, many are not aware that Nollywood, the film hub of Nigeria, is the second-ranked film mecca in the world.

Nigeria’s film industry is prolific, producing as many as 50 films a week or more than 1,200 films a year. Nollywood surpasses Hollywood in sheer volume and is gaining ground on Bollywood in India, which overtook the USA as the largest film producer in the 1970s and now has about double the output of Hollywood.

Nollywood films are typically low-budget, and revenues are small.  One of the highest grossing Nollywood films so far is thought to be "Ije: The journey", which generated $500,000 when it was released in 2010. According to ThisIsNollywood.com, the average production “takes just 10 days and costs approximately $15,000.”   

Bollywood generated revenues of $1.6 billion in 2012, and has been growing by around 10% a year.  By 2016, revenue is expected to reach $4.5 billion, according to the DI International Business Development (DIBD), a consulting unit of the Confederation of Danish Industry.  Bollywood also boasts intermediate production costs of around $1.5 million per movie.

Hollywood’s average budget per movie is $47.7 million per movie, with each taking about one year in production time.  However, ticket prices are much higher in the US than in Nigeria and India and Hollywood generates much higher revenue – as much as $11 billion annually.
 
Infographic- film industries 
 

Fifty Million Twelve-Year-Old Solutions

Naniette Coleman's picture

“We have a situation on our hands and the clock is ticking. We have fifty million twelve-year-old girls in poverty,” the opening video proclaimed. The solution is simple and profound, the Girl Effect, “an effect that starts with a 12-year-old girl and impacts the world.” Despite the catchy rhyme, I was skeptical. Can you blame me? It seems that we women have been getting the shaft since that damn snake in Eden. 

The list of superwomen who addressed the over capacity crowd at the “Adolescent Girls Initiative (AGI): An Alliance for Economic Empowerment” event on October 6th read like the World Bank, White House, Hollywood, Philanthropy, Business and the Catwalk list of Who’s Who. The crowd craned their necks from the hallway to catch a glimpse of World Bank Managing Director Ngozi Okonjo-Iweala and World Bank Director of Gender and Development Mayra Buvinic; White House Senior Advisor, Valerie Jarrett; Actor, Anne Hathaway; President of the Nike Foundation, Maria Eitel, and Supermodel Christy Turlington