The Cinema Exhibitors Association of Nigeria (CEAN) has reported that it generated an impressive sum of N1.2 billion in revenue across cinemas in Nigeria during January 2024.
The National President of CEAN, Mr Opeyemi Ajayi, revealed this information to the News Agency of Nigeria (NAN) in Lagos.
According to him, the total viewership across cinemas within the period under review was 322,833, which is a significant number.
It is a great start to the year for the Nigerian cinema industry as it continues to grow and prosper.
Mr Ajayi also shared some insights on how the cinema industry performed in the previous year.
He mentioned that in 2023, the revenue generated across cinemas in Nigeria stood at N7.35 billion with a total admission of 2,606,891.
This was an appreciable improvement from 2022, which attracted N6.94 billion in revenue.
Despite the drop in admissions into the cinemas in 2023, the revenue increased due to the increase in average ticket sales.
Mr Ajayi also listed the highest-grossing Nollywood and Hollywood films in 2023.
The top-grossing Nollywood films were “A Tribe Called Judah”, “Malaika”, “Orisa”, “Ada Omo Daddy”, “Merry Men”, “Kesari”, “Something Like Gold”, “The Kujus Again”, “Afamefuna”, and “A Weekend to Forget”.
On the other hand, the highest-grossing Hollywood films were “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”.
Furthermore, he mentioned that December 2023 recorded the highest Gross Box Office (GBO) of N1.6 billion, and there was a significant increase in admissions of 467,985 compared to December 2022, which had 384,435.
“A Tribe Called Judah” became the highest-grossing film of all time in the territory.
The increase in average ticket prices led to revenue growth in 2023, while admissions into cinemas declined by 18.4 percent in the same year.
Mr Ajayi also mentioned that eight new cinemas were opened in 2023, while two cinemas were shut down due to the increasing cost of operations.
Finally, he highlighted the fact that CEAN celebrated the first-ever Cinema Day in September, which led to a significant rise in admissions and revenue on that day.
All in all, it is excellent news for the Nigerian cinema industry, which continues to grow and attract audiences from all over the country.
