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Nigeria Cinema Industry Reports Strong Revenue of ₦1.2 billion in January 2024

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The Cinema Exhibitors Association of Nigeria (CEAN) reported a significant revenue of ₦1.2 billion generated across cinemas in the country in January. This revenue was accompanied by a total viewership of 322,833.

Opeyemi Ajayi, the national president of CEAN, expressed satisfaction with the positive start to the year, noting that Nigerians continued to embrace the cinema-going experience.

In a breakdown of the figures, Ajayi disclosed that the total sales for January 2024 amounted to ₦1,202,195,706, with a total admission of 322,833.

Reflecting on the performance of cinemas in 2023, Ajayi highlighted that the revenue generated throughout the year reached ₦7.35 billion, with a total admission of 2,606,891. This marked an improvement from 2022, which saw revenue of ₦6.94 billion.

He noted that while admissions dropped in 2023, the increase in average ticket sales contributed to the revenue growth. The year also witnessed the opening of eight new cinemas, although two cinemas were closed due to rising operational costs.

Ajayi mentioned that the highest-grossing Nollywood films for 2023 included “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 highlighted the success of the first-ever Cinema Day celebrated in September, which led to a significant rise in admission and revenue on that day. Additionally, December 2023 recorded the highest December Gross Box Office (GBO) of ₦1.6 billion, with a notable increase in admissions compared to December 2022.

“A Tribe Called Judah” emerged as the highest-grossing film of all time in the territory, underscoring the growth and potential of the Nigerian cinema industry.

February 21, 2024

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