10 Growing Movie Industries in the World 

The cinema industry, a vibrant and ever-evolving sector, continues to capture the imagination of audiences worldwide. Despite facing setbacks such as the pandemic and industry strikes, the global movie industry, valued at over $250 billion, demonstrates resilience and growth, particularly in emerging markets. 

By the end of 2023, while the global box office soared to an impressive $33.9 billion, it still lagged behind pre-pandemic averages, signaling a complex recovery path ahead. 

Yet, amid these challenges, several regional movie industries are not just surviving; they’re thriving, expanding their reach, and reshaping the global cinematic landscape. Here are the movie industries that are making significant strides in global cinema as of 2023.

Nollywood

Nollywood stands as a pillar of African cinema, known for its prolific film production and resourceful storytelling. In 2023, the Nigerian movie industry continued its upward trajectory, with box office revenues reaching N7.24 billion, a modest increase following a substantial jump the previous year.

Despite fluctuations in ticket sales and economic challenges like currency devaluation, Nollywood’s influence grows, driven by a mix of local blockbusters and international collaborations. 

The industry’s ability to churn out approximately 2,000 films annually, coupled with digital distribution, cements its status as a cultural powerhouse.

Saudi Arabia and Egypt

Saudi Arabia’s film industry has seen rapid growth since the lifting of a 35-year cinema ban in 2018, generating significant revenue of SAR3.7 billion (approximately $986.42 million) in just six years. 

This growth is part of the government’s Vision 2030 initiative, which aims to diversify the economy by investing heavily in the entertainment and film sectors, with a focus on becoming a regional hub for cinema. The development strategy includes nurturing local talent and expanding infrastructure.

In addition, the Saudi film industry is drawing inspiration from Egypt’s well-established cinema scene, which is influential in the region and popular among Saudi audiences. This influence helps boost Saudi box office sales and guides local filmmaking practices.

As of 2023, Saudi Arabia’s cinema infrastructure includes 66 theaters spread over 22 cities, featuring more than 600 screens and accommodating 63,000 seats. 

The industry’s box office revenue amounted to $919 million in 2023, with 234 films released in 65 theaters, resulting in 17 million tickets sold—a 25% increase from the previous year. The highest-grossing films in Saudi Arabia for the year were “Oppenheimer” and the local production “Sattar.”

Mexico

In 2023, Mexico’s film industry demonstrated significant resilience and recovery from the COVID-19 disruptions, with the total number of films released rising to 433 from 396 the previous year. 

This increase marks a move towards pre-pandemic levels of activity and includes a notable rise in domestic productions, emphasizing the strength of the local film sector.

The Mexican box office also saw a substantial recovery, with revenues increasing by 55% from the previous year, reaching approximately $940 million. 

However, this figure is still about 9% below the average revenue from the three years before the pandemic. Despite this, Mexico has maintained a robust cinema-going culture even during the pandemic, with Hollywood films generally leading in box office numbers but local films also making significant contributions.

One standout local production was “Radical,” featuring Eugenio Derbez, which became a top performer in the Mexican box office, grossing over $12 million. This success highlights the potential and popularity of domestic films within Mexico’s recovering cinema landscape.

The United Kingdom

The film industry in the United Kingdom continues to be a major player in the global cinema scene, celebrated for its rich history in producing epic historical narratives and famous franchises, including James Bond. London remains a pivotal center for film production and financing, supported by a deeply rooted theatrical tradition that elevates the caliber of its acting talent. Additionally, events like the London Film Festival play a crucial role in highlighting both local and international cinematic works.

In 2023, the UK’s cinema sector saw a significant uplift in its path to recovery, with box office revenues climbing to £978.5 million ($1.25 billion), marking an 8.3% rise from the previous year. This increase is reflective of a wider resurgence across both the UK and Ireland, regions often grouped together for box office considerations. For the first time since the pandemic, combined box office earnings in these areas broke past the £1 billion mark, signaling a notable recovery milestone.

Ticket sales also experienced a boost, with admissions increasing by 5.3% to reach 123.6 million in 2023. However, these numbers still fall short of the pre-pandemic highs, where annual revenues routinely exceeded £1.3 billion. Film production numbers showed a slight decline with 207 films made in 2023, down from 220 the previous year. Moreover, the financial investment in film production saw a marked decrease, dropping from £2.2 billion in 2022 to £1.36 billion in 2023, illustrating the ongoing financial recalibrations within the industry following the pandemic’s impact.

French Cinema

French cinema, renowned for its artistic films and significant movements like the New Wave, continues to be a major influence in global cinema. As the historical birthplace of cinema, France is dedicated to sustaining its rich cinematic heritage by producing internationally recognized art-house films. The Cannes Film Festival, held annually, further highlights France’s role by featuring a wide range of global talent.

In 2023, France’s cinema landscape showed robust growth. The box office collected approximately €1.3 billion ($1.4 billion), marking a 19% increase from the previous year, with ticket sales also up by nearly 19%, reaching 181.2 million. This success was fueled by both popular U.S. films, such as “The Super Mario Bros. Movie,” “Barbie,” and “Avatar: The Way of Water,” and well-received French productions.

Film production in France reached pre-pandemic levels in 2023, with the CNC approving 298 films, including a rise in French-initiated films to 236 from 208 the prior year. The year also saw a notable increase in animated films produced, although documentary production saw a slight decrease.

South Korea

South Korean cinema continues to impress global audiences with its creative storytelling and high-quality productions, as seen in internationally acclaimed films like “Parasite.” The industry, known for its psychological thrillers and romantic dramas, receives substantial support from the government, which helps foster its development. Events like the Busan International Film Festival also boost South Korea’s prominence on the world stage.

In 2023, South Korea’s box office revenue reached KRW1.261 trillion (approximately $964 million), a 9% increase from the previous year. However, this figure is still well below the KRW1.91 trillion ($1.46 billion) seen in 2019, before the pandemic. Although cinema attendance rose to 125 million in 2023, up 11% from 2022, it remains 45% lower than the 227 million admissions in 2019, illustrating a more gradual recovery than in other global markets.

Japan

In 2023, Japanese cinema maintained its prominence with diverse genres, from anime to samurai films, influencing global audiences. Renowned for iconic filmmakers like Akira Kurosawa and animation giants such as Studio Ghibli, Japan secured its position as the world’s second-largest offshore film market, recording $1.48 billion in box office revenues, consistent with 2022 but slightly lower compared to pre-pandemic levels.

The year witnessed strong performances from local films such as “The First Slam Dunk” and “Detective Conan: Black Iron Submarine,” contributing to a robust industry showing. Despite a positive uptick in ticket sales to 155 million admissions and a revenue increase to JPY 221 billion, the figures remained below the record highs of 2019, indicating ongoing recovery efforts. The balance of local versus imported films also returned to near-normal levels with a total of 1,232 films released in 202

China

In 2023, domestic films led the Chinese box office, securing the top ten spots and generating RMB54.9 billion ($7.73 billion), an 83% increase from 2022. However, these figures still fell 14.5% short of the pre-COVID high of RMB64.3 billion achieved in 2019.

The year marked the fourth highest annual box office total on record, signaling a strong recovery from the pandemic. The substantial growth in 2023 can be partly attributed to the rebound from the previous year’s disruptions, which included extensive lockdowns and theater capacity limits.

Back in 2022, China’s box office had seen a significant 36% drop from 2021, totaling just over RMB30 billion ($4.35 billion), with major contributions from local films such as “The Battle at Lake Changjin II.” The growth of China’s movie industry is propelled by a growing middle class, increased disposable income, and a robust demand for both domestic and Hollywood films, often rivaling or exceeding U.S. box office revenues.

Bollywood

Bollywood, celebrated for its vibrant musical dramas and grand love stories, remains a global favorite with stars like Shah Rukh Khan and Priyanka Chopra enhancing its international stature. Despite challenges from the pandemic and the rise of streaming services, Bollywood has made a strong recovery.

In 2023, India’s Hindi-language film sector recorded a box office revenue of $1.3 billion, ranking as one of its most lucrative years. This resurgence followed a pandemic-induced dip to $238 million in 2020, with a modest rise to $455 million in 2021.

The revenue in 2022 reached $1.28 billion (Rs106 billion), nearly matching the peak year of 2019. While cinema admissions decreased from 1.03 billion in 2019 to 892 million in 2022, the average ticket price increased by 12% to $1.44 (Rs119). Notably, “K.G.F: Chapter 2” led the 2022 charts, followed by “Brahmastra: Part 1 – Shiva” as the top-grossing Hindi film.

Hollywood

Hollywood continues to dominate the global film industry from its base in Los Angeles, setting benchmarks with its blockbuster movies, cutting-edge technology, and significant cultural influence. Home to major studios, it leads in film technology, special effects, and animation, and plays host to prestigious events like the Oscars, reinforcing its global cultural sway.

In 2023, Hollywood’s domestic box office earnings exceeded $9 billion, marking the highest revenue since the onset of the pandemic, as reported by Comscore. However, these figures still fall $2 billion short of pre-pandemic annual sales.

The latter part of the year experienced tepid box office results, but the “Barbenheimer” phenomenon, involving the simultaneous releases of Greta Gerwig’s “Barbie” and Christopher Nolan’s “Oppenheimer,” provided a significant uplift. “Barbie” raked in approximately $636 million domestically, while “Oppenheimer” brought in $326 million, according to Box Office Mojo.

Disney continues to boast the top three highest-grossing films globally: “Avengers: Endgame,” “Avatar,” and “The Lion King.” Typically, Hollywood studios retain about 60% of domestic box office revenue, with theaters receiving the remaining 40%. In 2023, 504 films were released in the U.S. and Canada, an increase from 456 in 2022, but still below the 792 films in 2019.

From 2020 to 2022, box office revenue more than tripled, reaching nearly $7.4 billion, yet it significantly trails the pre-pandemic high of $11.3 billion. Valued at over $100 billion, Hollywood’s market share was 26.8% of the global box office in 2023, a slight decrease from 28.9% the previous year.