The Cinema Exhibitors Association of Nigeria (CEAN) has revealed that cinemas across the country generated a remarkable revenue of N1.2 billion in January, marking a positive start to the year for the entertainment sector.
In an exclusive interview with the News Agency of Nigeria (NAN) in Lagos, Opeyemi Ajayi, the National President of CEAN, shared insights into the performance of Nigerian cinemas during the first month of 2024. Ajayi disclosed that the total number of viewers across cinemas in January amounted to 322,833, reflecting a continued enthusiasm for the cinema experience among Nigerians.
Ajayi expressed satisfaction with the robust start to the year, emphasizing the resilience and adaptability of the Nigerian cinema industry amidst evolving consumer preferences and economic conditions.
“For January 2024, we recorded total sales of N1,202,195,706 with a total of 322,833 admissions,” stated Ajayi, underscoring the significant contribution of cinemas to the nation’s economy.
Reflecting on the performance of cinemas throughout 2023, Ajayi highlighted that the industry witnessed substantial growth, with total revenue amounting to N7.35 billion and 2,606,891 admissions. He noted an improvement in sales compared to the previous year, attributing the increase in revenue to a rise in average ticket prices.
Ajayi provided insights into the top-grossing films for both Nollywood and Hollywood in 2023, showcasing the diversity and popularity of cinematic offerings in Nigeria. Notable successes included “A Tribe Called Judah,” “John Wick, Chapter 4,” and “Aquaman And the Lost King.”
The CEAN president also highlighted key milestones and challenges faced by the cinema industry in 2023. He noted the record-breaking December Gross Box Office (GBO) of N1.6 billion and the introduction of Cinema Day in September, which led to a significant increase in both admission and revenue on that day.
Despite the industry’s growth, Ajayi acknowledged challenges such as rising operational costs, which resulted in the closure of two cinemas in 2023. However, he remained optimistic about the future of the Nigerian cinema industry, emphasizing its resilience and ability to adapt to changing market dynamics.
As the cinema industry continues to navigate challenges and capitalize on opportunities, stakeholders remain committed to providing audiences with high-quality entertainment experiences while contributing to the economic growth of Nigeria.
Credit: News Agency of Nigeria (NAN)
