According to the "Filmmakers Cooperative of Nigeria", every film in Nigeria had a potential audience of 15 million people in Nigeria and about 5 million outside Nigeria. In no time, the industry became the third largest producer of films in the world. However, this didn't translate to an overtly commercial film industry when compared to other major film hubs across the world; the worth of the industry was approximated at just about US$250 million, since most of the films produced were cheaply made. The film industry regardless became a major employer in Nigeria. As of 2007, with a total number of 6,841 registered video parlours and an estimated 500,000 unregistered ones, the estimated revenue generated by sales and rentals of movies in Lagos State alone was estimated to be ₦804 million (US$5 million) per week, which adds up to an estimated ₦33.5 billion (US$209 million) revenue for Lagos State per annum. Approximately 700,000 discs were sold in Alaba market per day, with the total sales revenue generated by the film industry in Nigeria estimated at ₦522 billion (US$3 billion) per annum, with broadcast content valued at ₦250 billion (US$1.6 billion).