A report on growth trends, challenges and opportunitiesproduced by the United Nations Educational, Scientific and Cultural Organization (UNESCO), reveals that Africa's film and audiovisual industry can unlock 20 million jobs and generate $20 billion in revenue.

The study believes that low-cost filmmaking is the way to reach the continent's potential and create jobs. As an example, it points to the Nigerian model of Nollywood where producers quickly make a complete film with only 15,000 dollars. During the year, Nigeria produces up to 2500 films for the domestic and foreign markets, making Nollywood the second largest audiovisual production industry in the world.

Despite this, the sector is "historically and structurally underfunded, underdeveloped, and undervalued."

According to the report, the biggest impediment to progress in the industry, and leading to slowing growth and formalization, is weak and almost non-existent government support.

"The lack of enabling policies is possibly the most crucial impediment to the development and growth of the continent's film and audiovisual sector," it reads.

Currently, only 44% of the countries have an established film commission, while only 55% of the countries have a film policy and 35% offer financial support to filmmakers.

The paper adds that the administration of cultural policies in African countries is also "fragmented," which makes it difficult to devise short- and long-term policies and strategies.

"Many countries lack a competent ministerial body dedicated to culture and the creative economy," the study concludes.

The report identifies four potential models for industry growth on the continent: the Nollywood, Auteur, Service, and Festival.

Nollywood

This model characterized by a fast, low-cost production mode. Its low-cost production model focused on authentic stories has inspired filmmakers across the continent to create dynamic local ecosystems with their own resources, distribution networks, and star systems.

Auteur

This model looks at cinema as an art form, not necessarily subject to the whims of the market, and more akin to a European rather than Hollywood approach.

Service

This model develops a local industry around providing production and post-production services for international projects, with Morocco, South Africa and Mauritius as pioneers.

Festival

This allows a country to boost the sluggish or non-existent local film sector by establishing itself as a major supporter of cinema or television by organizing festivals or markets.