Health is fundamental to a prosperous productive society, whereas panic and illness can stifle production, consumption, Entertainment, travel, and overall well-being (Marin, 2017; Adeola& Evans, 2018; Lawanson& Evans, 2019; Nwaogwugwu& Evans, 2019; Fourie, 2020). Health disasters such as the Ebola virus, Middle East Respiratory Syndrome (MERS) outbreak and the rise of COVID-19 not only have global health impacts but also wide-ranging socioeconomic disrupts which affects the entertainment sector and particularly the Nigerian movie industry. Much of this impact was due to consumer fears given the ease of transmissibility of the virus in public settings (Dimmock, Easton & Leppard, 2016). In the same fashion, the incidence of the COVID-19 is growing at a disturbing rate with significant impacts on global economies and public health. According to Bloomberg, China's first‐quarter GDP growth may drop to 4.5%; the global GDP is also expected to decline by roughly 0.42% in the first quarter of 2020. Economists have estimated that, without urgent global actions to curtail the virus in time, China is expected to lose up to $62 billion in the first quarter of 2020, while the world will lose over $280 billion. Ayittey et al (2020) compared these values to the World Banks estimate that even a weaker flu pandemic, such as the 2009 H1N1 viruses, would still wipe 0.5% off global GDP, which is approximately $300 billion.
While it may be accepted wisdom that America’s “Hollywood” and India’s “Bollywood” are large movie producers, the twenty-first century Nigerian movie industry (Nollywood henceforth) produces about 2,000 movies a year, which arguably places it in third place on the global film circuit (Gray, 2013; Evuleocha, 2018) – albeit not necessarily from a marketing competence perspective (Madichie and Katwalo, 2015; Madichie and Ibeh, 2016). Nollywood has also been argued (Okome, 2014; Haynes, 2015; Haynes and Okome, 2012; Madichie and Ibeh, 2016) to be the second highest revenue earner in present day Nigeria with revenue of over N9bn (US$72 m – based on July 2009interbank rates). Nigerian movie industry (Nollywood) constitutes a multimillion-dollar. It is arguable therefore that the industry has become big business and worthy of not only management research interest but also public policy attention. Nollywood also produces a very wide variety of storylines including those that are not readily visible in movies from other parts of the world. However, Nollywood is still considered an industry in perpetual infancy (Barnard and Tuomi, 2018).
The covid 19 pandemic had negative impacts on all sectors not just the Nigerian Nollywood. Covid-19 affected the ability of the producers in this industry, as a result of the lock down which restricted movement of people and constituted a bottle neck to businesses. This resulted to a great decline in the revenue of the entertainment sector as a whole. These impacts cut across many sectors and undoubtedly have long-term consequences” in the country (Smith et al, 2019). This has affected the entertainment sector and their revenue. Because of its potential to cause significant illness and death worldwide, experts believe that a global covid-19 pandemic will have a major negative impact on the global economy, including travel, trade, tourism, food, retail consumption and eventually, investment and financial markets. The coronavirus crisis is primarily a public health issue, demanding containment policies that have inevitably caused shocks to economic activity. The outbreak of the coronavirus was a big defect on the entertainment industry and the Nigerian film industry in Nigeria. This affected all the parties involved in the generation of revenue in this sector which include the film producers, actors etc. The lock down played a major role on this industry creating a gap between the film industry and generation of revenue. This constituted a bottle neck on the socio economic development of the film industry as a result of this pandemic the sector has been kept in a stationary point, leaving it in stagnant position. Cinemas which were shut down plays a major path in the socio economic development of the film industry. These cinemas serve as a recreational means to the public and increases the revenue of the entertainment film sector, where left to the mercy of the covid19 pandemic in Nigeria. All the parties involved in film making where restricted to their homes there by leaving most of them jobless during the disease outbreak
EDITOR'S SOURCE: Undergraduate Research Topics
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