Nigeria’s box office records N1.2bn in January — 47% YoY growth

The Cinema Exhibitors Association of Nigeria (CEAN) says it generated N1.2 billion as revenue across cinemas in the country in January.

The figure represents a 46.5% revenue growth when compared to N819 million realised in January 2023.

NAN reports that Opeyemi Ajayi, the CEAN national president, also revealed on Tuesday that the association recorded 322,833 total viewers across cinemas within the period under review.

Ajayi said the year started on a good note as Nigerians continued to promote their cinema-going experience.

“For January 2024, we had total sales of N1,202,195,706 with total admission of 322,833,” he said.

Speaking further on how the cinema fared in 2023, Ajayi said the revenue generated across cinemas last year stood at N7.35 billion with 2,606,891 admissions.

He said there was an appreciable improvement in sales in 2023, compared to 2022 which attracted N6.94 billion in revenue.

Ajayi also said it was observed that admissions into the cinemas dropped in 2023 but the revenue increased due to an increase in average ticket sales.

“The highest grossing Nollywood films for 2023 include: “A Tribe Called Judah”; “Malaika”; “Orisa”; “Ada Omo Daddy”; “Merry Men”; “Kesari”; “Something Like Gold”; “The Kujus Again”; “Afamefuna” and “A Weekend to Forget”,” he said.

“For the highest grossing Hollywood films in 2023, we have: “John Wick, Chapter 4”; “Fast x”; “Aquaman And the Lost King”; “Mission Impossible”; “Barbie”; “Avatar: The Way of Water”; “Creed III”; “The Little Mermaid”; “Ant-Man And the Wasp” and “The Equalizer”.

“2023 recorded the highest December Gross Box Office (GBO) of N1.6 billion and a significant increase in admissions of 467,985 compared to December 2022 which had 384,435.

“A tribe called Judah becomes the highest grossing film of a time in the territory.

“Increase in average ticket prices led to revenue growth in 2023 while admissions into cinemas declined by 18.4 per cent in 2023.

“Eight new cinemas were opened in 2023 while two cinemas were shut down due to increasing cost of operations.

“We had the first ever Cinema Day, celebrated in September and we experienced a significant rise in admission and revenue on that day.”