As we know the film industry is one of the lucrative industries in this century. Through the immense hard work in producing blockbusting films, it has encapsulated virtually every single individual on earth into watching its production. There is a need to know that behind every blockbuster, there are hundreds of men and women working tirelessly to ensure the final film production is unique and commands viewers’ attention to stay glued to the screen until the last scene. This article aims at listing the top ten richest film industries in the world.
Dating back to the 19th century, the film industry is one of the largest sources of entertainment, the industry boasts of producing thousands of films annually and generating billions of dollars as revenue.
Film-making or production is a lengthy, strenuous, mentally and physically severe process that involves the simultaneous work of many different units working together to produce and make what is called a “hit film or movie”.
The film industries often referred to as the motion picture industry is an industry saddled with the activity of filmmaking. The film industry’s major units consist of a film studio, film production companies, animation, cinematography, pre-production, post-production, screenwriting, distribution, film festivals, film directors, actors/actresses, and other film crew personnel.
Top 10 Richest Film Industry In The World 2021
Filmmaking is good business apart from entertainment. It also serves as a means to pay bills and other financial commitments. Several film industries in the world generate billions of dollars every year as long as they keep producing movies that provide opportunities to acquire investment capital from outside the film industry itself, which has allowed independent film production to evolve.
Here is our list of the top 10 film industries in the world:
1. Hollywood (USA)
It’s obvious that Hollywood is the richest film industry in the world. Hollywood refers to the United State film industry and it is over 120 years old. As such, it is the largest, oldest, and most profitable film industry in the world. The United States film industry generated approximately $11.4 billion in 2016 which is equal to the rest of the top 9 film industries in the world combined, accruing it the most profitable film industry in the world. the cinema is attended by Two-thirds of the American and Canadian population at least once in 2016. The high level of attention to cinema attributes and increases the profit margin of the industry which accounted for 48% of tickets sold.
2. Cinema Of China
The Chinese film industry is the second largest and richest in the world. 1930 is the prime era Cinema of China got to its peak in which the film industry earned huge sums. Due to the Japanese invasion in 1937, the film industry went down and was ruined. In 1945, due to rapid stabilization and growth, the film industry picked up again amidst many obstacles. The Chinese film industry has produced several “hit-movies” i.e. the latest one “The Mermaid” earned CN¥3 billion on box office! In 2016 China leads all other international box office markets, generating 6.6 billion in revenue.
3. Cinema Of United Kingdom
The United Kingdom film industry has played significant roles in the film industry for over a century. Uk’s film industry is referred to as the Cinema of the United Kingdom. British films earned up to $2 billion worldwide achieved the fit of market share which amounts to 7% globally and 17% in the United Kingdom in 2009. UK box-office takings summed up to £1.1 billion in 2012, with 172.5 million admissions. In 2016 it generated around $6.65 billion as revenue from filmmaking and it is the highest-grossing film industry across Europe though slightly lower than that of China. In order for the film industry to produce and generate more revenue and income, the government gives relief to filmmakers such as tax reduction in film production. Pinewood is one of the notable and reputable film studios in the UK. In 2017, the industry spent an estimated $2.04 billion to produce films.
4. Cinema Of Japan
Japan’s film industry earned about $2 billion in 2016. The Japanese film industry is over a hundred years adding it to one of the oldest in the world. Movies have been produced in Japan since 1987. Japan produced 411 feature films and was the leader in Asia in film production until 2012 due to slow economic growth and the high cost of film production resulted in a stagnating industry. Japan boasts of 3,472 film screens and produced 610 films and 180.2 million admissions.
Bollywood referred to as Hindu cinema is the India-Hindu language film industry based in Mumbai, India. Bollywood aside from being one of the riches film industry in the world and is also part of the largest film production in the world, it creates the most number of movies per year which is on average of 1,200 per year. India produced a total of 2,961 films on celluloid; this figure includes 1,288 feature films in the year 2009. Bollywood is not just a standalone film industry in India but a part of the larger cinema of India (also known as Indywood). As the 5th richest film industry in the world, Bollywood earned around $1.9 billion from films in 2016. Not just that, it has the largest number of admissions and the film industry is multi-lingual film industry. Most of the movies produced in this film industry are in Hindi or English so that they can be exported outside the shores of India.
6. Cinema Of France
The cinema of France refers to the France film industry. The film industry consists of creative movies and the art of film produced within the country (France) or by French filmmakers abroad. France is referred to or often called the birthplace of cinema and has contributed immensely to the film industry at large. The French people love watching movies (2113 million cinema visits in 2015) making them the number one country to visit cinemas and this aids the film industry of France to generate around $1.6 billion from films in 2016. Cinema of France is noted for having a particularly strong film industry, because of the protection provided by the French government. In addition to its strong and innovative film tradition, France has over time been a gathering spot for artists from different countries in Europe and the world.
7. Cinema Of South Korea
South Korean films, benefitted from the euphoria “Golden age era” coming from the late 1950s through the 1960s. By the 1970s it was generally considered to be of low quality. In 2005, South Korea added to one of the few countries that watch more local (domestic) movies than abroad (imported) films in cinemas because of laws inhibiting the number of foreign films that can be shown in cinemas per year. Since 2006, in the cinema, Korean films are to be played for 73 days per year. The cinema of South Korea is the 7th richest film industry in the world. There were about 500 single-screen cinemas and the tickets sale was around 50 million in 1998. In the year 2016, the number of film ticket sales was up to 217 million and there are more than 2,400 multiplex cinemas built across the country. It generates a revenue of over $1.5 billion in 2016 and it is the highest attending film territory in the world in terms of per capita basis.
8. Cinema Of Germany
The cinema in Germany can be traced back to the late 19th century and it refers to the film industry in Germany. Within the period of 1918 – 1933, the German film industry has produced major technical and artistic contributions in the film industry. The film industry has witnessed many ups and downs. German film industry earned around $1.04 billion of film revenue ranking it the 8th richest film industry in the world.
9. Cinema Of Australia
It is ranked number 9 on the list of the richest film industry in the world because the cinema of Australia generated around $0.6 billion in just 2016. Cinema Australia has produced several movies since its existence in 1906 but the film industry is well-known as one of the “Boom and dust” due to its unstable nature. The genesis of numerous actors and filmmakers was in Australian film, some of which rise up to become notable and acquire international reputation in the film industry.
10. Cinema Of Mexico
The Cinema of Mexico ranked 10th on the list of the richest film industry in the world. It was once dominated by the Latin American film industry. The revenue of Cinema Mexico is around $0.8 billion and sold 30.5 million tickets. There are many renowned names associated with this film industry.
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The film industry is important in our society today. The entertainment it provides cannot be overemphasized, not just entertainment alone, it also contributes a substantial percentage to the country’s GDP. Here you have the top ten richest film industries in the world.