Nigerian Cinema Revenue Drops N273.2 million In Six Months

The turnover on ticket sales at the Nigerian cinemas fell in June by -42.9% (N273.2 million) to N363 million in H1 2022, as cinema goers reduce their screen time amid soaring inflation, that has forced readjustment of priorities in the country.

In May, data from the Cinema Exhibitors Association of Nigeria (CEAN), a body of cinema owners and operators, had disclosed that the industry grossed N653 million, while the month before, it recorded N582 million.

The cinema market revenue decline stretched into March, when cinema goers disbursed N346.6 million to watch blockbuster movies and screen-worthy films. Although the turnover was more than the N301.4 million reported in February,

January posted the second highest earnings for cinema operators after May, recording N636.2 million. According to the data, foreign movies accounted for about 70% of the amount generated in H1 2022, while Nollywood movies contributed around 28%.

Breakdown of the revenue-generating movies

During the period, over 21 Nollywood movies was shown per month across the cinema in Nigeria, with an average of 14 Hollywood movies.

Between January to June, Hollywood movies that boost ticket sales in the cinema are Spider-Man: No Way Home, Jurassic World: Fallen Kingdom and Top-Gun: Maverick, and Doctor Strange in the Multiverse of Madness.

Others are King of Thieves, Morbius, Sonic the Hedgehog 2 and The Batman. This shows the preference of cinema goers is still tailored towards foreign movies, considering despite Nollywood films accounting for the highest number of screen movies, international films grossed the highest.