Hollywood is a mature market with consistent growth. It continues to be a global leader in box office revenue, production value, and cultural impact. Still, its growth rate isn’t as rapid compared to emerging markets like China, India, or Nigeria, where the film industries are expanding more rapidly in relative terms.
From Asia to Africa, these fast-growing multi-billion-dollar film industries are not only boosting their local economies but also captivating audiences globally with diverse voices and perspectives.
Biggest Film Industries in the World
1. Hollywood (United States)
Market Size: $91 billion (2023)
Key Fact: The U.S. film industry, commonly known as Hollywood, remains the largest and most influential in the world.
Hollywood is synonymous with global cinema. It boasts the highest box office revenues and the most significant global influence. In 2023, Hollywood accounted for approximately 35% of the global box office revenue, according to the Motion Picture Association. With major studios like Disney, Warner Bros., and Universal Pictures, Hollywood continues to dominate with blockbuster franchises like the Marvel Cinematic Universe and Star Wars.
2. Bollywood (India)
Market Size: $3.5 billion (2023)
Key Fact: Bollywood produces the most films annually, with over 1,800 movies released each year.
India’s Bollywood is not just a national treasure but a global cinematic powerhouse. With its distinct style of filmmaking, often characterized by lively music, dance, and drama, Bollywood has seen growing international appeal. According to Statista, Bollywood’s contribution to the global box office was approximately $2.1 billion in 2023, highlighting its importance in the global market.
3. Nollywood (Nigeria)
Market Size: $1 billion (2023)
Key Fact: Nollywood is the second-largest film producer globally by volume, with over 2,500 films produced annually.
Nollywood has rapidly grown to become one of the top film industries in the world, especially in terms of output. The Nigerian film industry’s growth has been fueled by YouTube and other digital distribution platforms like Amazon Prime Video and Netflix, making it more accessible to African and global audiences. The World Bank estimates that Nollywood contributes about 2.3% to Nigeria’s GDP, a testament to its economic importance.
4. Cinema of China
Market Size: $10.5 billion (2023)
Key Fact: China has the second-largest box office revenue globally, following the United States.
China’s film industry, known for both its domestic productions and Hollywood imports, has seen exponential growth over the past decade. The Chinese box office in 2023 accounted for 20% of global revenue. Films like The Wandering Earth have shown that the Chinese entertainment industry can achieve blockbuster status domestically and internationally.
5. Japanese Cinema
Market Size: $2 billion (2023)
Key Fact: Japan is a leader in animation, with its anime industry having a massive global following.
Japanese cinema, particularly anime, holds a unique place in the global film industry. The anime sector alone was valued at $26 billion in 2023, contributing significantly to the global entertainment industry. Major studios like Studio Ghibli and Toei Animation have created iconic films that resonate worldwide, including Spirited Away and One Piece.
6. Cinema of South Korea
Market Size: $2.5 billion (2023)
Key Fact: South Korea’s film industry gained global attention with Parasite, the first non-English film to win the Oscar for Best Picture.
South Korea has established itself as a creative force in the film industry, with a focus on quality storytelling and innovative filmmaking. The success of films like Parasite put Korean cinema on the global map, leading to increased interest in Korean films and dramas, contributing to the $12 billion Hallyu (Korean Wave) industry.
7. French Cinema
Market Size: $1.9 billion (2023)
Key Fact: France is the birthplace of cinema and continues to be a leading producer of high-quality films.
France’s film industry is renowned for its rich history and artistic innovation. The Cannes Film Festival remains one of the most prestigious film events globally, highlighting the importance of French cinema. In 2023, French films earned over $500 million internationally, reflecting their global appeal.
8. German Cinema
Market Size: $1.1 billion (2023)
Key Fact: Germany is known for its high-quality productions, particularly in the arthouse and independent film sectors.
Germany has a huge film industry with a focus on both commercial and independent films. The Berlin International Film Festival, one of the “Big Three” film festivals, showcases the best of German and international cinema. German films like Toni Erdmann have gained international acclaim, contributing to the $1.1 billion industry.
9. British Cinema
Market Size: $1.7 billion (2023)
Key Fact: The United Kingdom is a major hub for film production, with London being one of the most sought-after locations for international filmmaking.
One of the top film industries in the world, the UK film industry is deeply intertwined with Hollywood, with many big-budget films being co-produced between the two. British cinema has a strong tradition of high-quality storytelling, evident in films like 1917 and franchises like James Bond. In 2023, the UK’s film industry contributed £6.9 billion to the national economy, reflecting its significance.
10. Russian Cinema
Market Size: $0.9 billion (2023)
Key Fact: Russia’s film industry is known for its historical dramas, has a growing influence in Eastern Europe and Asia and is one of the top film industries in the world.
Russia’s film industry has a rich history, with a focus on epic storytelling and historical dramas. In recent years, it has seen growth in both domestic and international markets. The Russian box office in 2023 was $900 million, with films like The Last Warrior series gaining popularity beyond its borders.