The year has begun with a good financial performance from the Cinema Exhibitors Association of Nigeria, with revenue up nearly 50% year over year.
According to the National President of CEAN, Opeyemi Ajayi, Nigerian movie theatres brought in N1.2 billion in income in January 2024.
This represents a 46.5% annual increase over the N819 million recorded in January 2023.
Ajayi stated that 322,833 people watched the entire event during this time, according to an interview with News Agency of Nigeria.
Ajayi expressed his happiness with the year’s auspicious beginning while highlighting Nigerians’ enduring passion for going to the movies.
The enormous earnings and attendance figures not only reflect the strength of the cinema industry but also underscore the enduring appeal it holds for the Nigerian audience.
“We had N1,202,195,706 in total sales and 322, 833 in total admission for January 2024,” he stated.
Speaking about the performance of theatres in 2023, Ajayi said that 2,606,891 admissions brought in N7.35 billion in income for all theatres in 2023.
He emphasized that 2023 sales improved significantly above 2022 sales, bringing in N6.94 billion in revenue.
In 2023, there was a discernible decrease in moviegoer admissions; but, average ticket sales climbed, resulting in a rise in revenue.
He said that “A Tribe Called Judah,” “Malaika,” “Orisa,” “Ada Omo Daddy,” “Merry Men,” “Kesari,” “Something Like Gold,” “The Kujus Again,” “Afamefuna,” and “A Weekend to Forget” were among the top-grossing Nollywood films of 2023.
“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 Equaliser” were among the top-grossing Hollywood movies in 2023.
According to Ajayi, December 2023 saw the highest December Gross Box Office of N1.6 billion and a notable rise in admissions of 467,985 above December 2022’s 384,435 admissions. In the region, “A Tribe Called Judah” surpassed all previous box office records in terms of earnings.
In 2023, eight new movie theatres were launched, and two others were forced to close because operating expenses were rising.
Ajayi also emphasized the September event that was the first-ever Cinema Day, which saw a notable increase in attendance and income.
