Nollywood has grown significantly over the past 20 years or thereabout. Today, the industry is one of the top grossing movie industries in the world, with billions of dollars in revenue.
It stands head and shoulders above all other movie industries in Africa. And at the global stage, it is second to only the American movie industry, which is famously tagged Hollywood.
As at 2018, Nollywood has an estimated worth in the region of $5.3 billion. Although, the actual worth has been a subject of the debate over the past few years, the valuation is very much within the range of the estimated figure ($5.3 billion).
According to recent estimates, the Nigeria movie industry ranks second (behind Agriculture), on the list of largest employers of labour in the country. The industry reportedly contributes about 4% to 6% of the Nigerian gross domestic product (GDP).