The beauty and indeed power of Bollywood has never been more prevalent than in recent months, with the smash-hit success of the film “Slumdog Millionaire“. Through the music of A.R. Rahman and the dazzling cinematography, one can only imagine the next big hit to come from an emerging economic and indeed cultural market.

However, there is another growing trend developing from what we refer to as the geo-political ‘rest’: the rise of Nollywood cinema.

From the stalls of Brooklyn’s Odyssey African market in New York to its European headquarters in Peckham, London, to the streets of Accra, Ghana, Nollywood’s growth beyond the shores of Nigeria knows no boundaries.

Themes of corruption, police brutality, rags-to-riches tales and witchcraft are part of the reason for Nollywood’s initial success beyond its original home.

The industry is but fifteen years old, however behind Hollywood and Bollywood, its the third largest film industry in the world. Over 2,000 films are created each year, meaning an average of 50 are churned out each week, distributed originally from Lagos and Onitsha, two of Nigeria’s commercial hubs. The industry is already estimated to be worth more than $250 million dollars and contributes to Nigeria’s annual gross domestic product.

An interesting investment, but, to be fair, not all Nollywood pictures enjoy the pleasure of profit. Because of an extremely leaky distribution system, the problems of piracy and the glut of films on the market, Nigerian films are lucky to sell 60,000 copies. Such modest sales will indeed have their impact on the budgets of these Nollywood films. However, some have sold up to a quarter of a million working with budgets just as tight.

The subject of Nollywood cinema has been the focus of a number of recent documentaries: This is Nollywood by Franco Sacchi is but one example. Sacchi believes that one of the fundamental factors that has contributed to the success of Nollywood is that contrary to its regional competitors, it recognizes the importance of being a brand. “Nollywood has created a star system which is the foundation for a movie industry in any country, where you have recognizable lead actors the audience can identify with“, he stated.

There is debate that Nollywood has silenced other film industries in Africa. The Ghanians have been trying to maintain competitiveness with Nollywood cinema, but can not come up with the numbers that are produced from Nollywood. Cable television, for example, showcases Nollywood films day and night, and is carried on the South African-owned Mutli Choice DSTV across the continent, meaning of course, greater exposure. The internet is another valuable resource for obtaining Nollywood cinematic pictures.

Availability equates to exposure and greater exposure is truly the goal of the competitive industry Bollywood hopes to thrive in. From what we know already, and precedents past that are truly an astounding symbol of globalization at its best, an investment in Nollywood has its risks, but is indeed, truly worthwhile.