The Nigerian box office has reached a historic milestone, surpassing the N1 billion mark in gross earnings within a single week for the first time ever.
Between December 20 and December 26, 2024, the industry earned an impressive N1.02 billion, marking a significant achievement and solidifying Nigeria’s growing influence in global cinema.
Boxing Day, December 26, 2024, stood out as the highlight of this remarkable success. On that day alone, the industry set a new single-day record, grossing N256.4 million in ticket sales, the highest-ever daily earnings in Nigerian cinema history, according to Nile Entertainment.
This achievement shattered the previous record of N89.8 million, further demonstrating the growing appetite for films, particularly during the festive season.
The scale of this success is even more impressive when comparing it to box office performances in past December weeks. In 2018, earnings between December 21 and December 28 totaled N368.4 million.
This figure gradually grew over the following years, with 2019 recording N316.2 million, 2020 at N302.4 million, and 2021 reaching N502.9 million. In 2022, earnings climbed to N526.7 million, while 2023 saw a substantial increase to N804.3 million. Now, 2024 has set a new benchmark, marking the highest-grossing December week in the industry’s history.
This surge in box office earnings highlights the increasing popularity of both Nollywood and international films within Nigeria. The strong performance of films released during this period illustrates the strategic timing of major debuts and the growing enthusiasm of audiences eager to celebrate the holiday season with entertainment.
This historic achievement goes beyond just financial success. It signals the continued evolution of the Nigerian film industry and its expanding global reach. With 2024 marking a new high, industry experts are optimistic about the future. Analysts predict that this momentum will lead to even more ambitious projects and greater audience engagement, paving the way for further milestones in 2025.
Ope Ajayi, President of the Cinema Exhibitors Association of Nigeria, expressed a positive outlook for the industry’s future. In an interview with Nairametrics, Ajayi predicted that with an annual growth rate of 40-45%, the industry could reach a box office revenue of N45 billion within the next four years, potentially even hitting N50 billion.
He also pointed out that box office revenue is only one part of the cinema industry’s broader financial landscape, as in some cases, box office earnings represent less than half of a cinema’s total income.
