The history of the Nigerian cinema remains a popular discourse in scholarship. However, one phase in the history of its emergence and development remains more prominent and dominant over others—the video boom era. While some scholars discuss this with appreciation of the doggedness and determination of its players, some are condescending, even condemning as the industry is mirrored against the professionality and remarkability of renowned industries especially Hollywood. This negativity has persisted, warranting that some industry players distance themselves from the sobriquet, Nollywood, which has come to stand for the Nigerian video and film industry. This study takes up the call from industry players for scholarship to re-evaluate and redefine the contemporary Nollywood whose history as well as industrial activity has gone beyond the video boom era. Beyond discussing factors that are currently reshaping Nollywood, this study uses two select films and data collected via interviews with over 20 industry players to re-evaluate production and distribution of films in the industry.