Nigerian filmmaker and realtor, Goodness Usman, has revealed that the industry is not as viable as envisioned, especially for filmmakers who invest so much in making a movie.
She affirmed that the success of a movie producer is in the production of more movies, adding, “we don’t make movies to make money; we make money to make more movies.
“Despite fame and fortune being misconstrued or perceived to be the same, it is important to know that Nollywood has clearly and helplessly juxtaposition both.
“Ranked as the second largest film industry in the world, one would expect that Nollywood is as rich as its status. Just like every normal business out there, Nollywood is one risky venture where the cost of a loss is greater than the gains.
“For this reason, investors are meticulous as they always want to check the pros and cons; thus, drafting or trying to predict a scenario for the business”.
The filmmaker and real estate consultant for Naijarealty24 described the movie industry as an experiment which is still undergoing transition.
“Nollywood is a totally different kind of business. No one fully understands it. No one is an authority on it yet. We know it is growing but it seems we can’t measure it.
“Nollywood is still largely a big experiment and we are terrible at collecting data. This means whatever anyone tells you about profitability in Nollywood is only half the truth no matter where it is coming from, that is why you see most of our Nigerian celebrities delving into other businesses,” she said.