Film industry
The film industry, also known as the motion picture industry, is comprised of the technological and commercial institutions of filmmaking, such as film production companies, film studios, cinematography, animation, film production, screenwriting, pre-production, post-production, film festivals, distribution, and actors. The film industry, also known as the motion picture industry, is comprised of the technological and commercial institutions of filmmaking, such as actors. Despite the fact that the high cost of producing films forced film production to concentrate under the auspices of established production companies almost immediately, advances in affordable filmmaking equipment, as well as an expansion of opportunities to obtain investment capital from sources other than the film industry, have allowed independent film production to flourish.
The worldwide box office generated $42.2 billion in revenue in 2019. The worldwide film business was valued $136 billion in 2018, when box office and home entertainment earnings are taken into consideration. Hollywood is the world's oldest national film business, having been established in 1895. However, by 2020, China will have surpassed North America as the most lucrative box office market, according to gross receipts. The pandemic of COVID-19 has hastened the change, which had been foreseen for some time by experts. Currently, the Nigerian film industry is the greatest national film industry in terms of the number of feature films produced, with 2,599 feature films being produced yearly as of 2019. Chinese cinema has the biggest yearly ticket sales in the world as of 2019, with 1,650 million tickets sold in total.
Movie 2019, the global theatrical market generated US$42.2 billion in box office revenue. On the basis of box office gross, the top three continents/regions were as follows: Asia-Pacific with US$17.8 billion, the United States & Canada with US$11.4 billion, and Europe, the Middle East, and North Africa with US$10.3 billion. As of 2019, the United States, China, Japan, South Korea, the United Kingdom, and France were the top five box office markets in the world, in decreasing order, according to box office revenue. The top three nations for film productions in 2019 were India, Nigeria, and the United States, according to the International Film Production Association. Europe's major film production hubs include Italy, France, Germany, Spain, and the United Kingdom, to name a few countries.