The Cinema Exhibitors Association of Nigeria (CEAN) said cinemas across the country generated US$2,7 million in the first half of 2024. Ope Ajayi, Chairman of CEAN, said the cinema hosted 1,199,661 visitors during the period under review.
According to him, revenue increased appreciably in the first half of the year compared to the same period in 2023. He said US$1,8 million in revenue was generated in the first half of 2023.
Ajayi expressed excitement as revenue generated from Nollywood and Hollywood films in cinemas began to be at par, describing the development as the way to go.
“Nollywood films raked in US$1,4 million while Hollywood films generated US$1,3 million as revenue in the year’s first half.
“We also recorded 559,122 total admissions for Hollywood films and 640,539 for Nollywood films.
“Box revenue grew by 34% in the first half of the year compared with last year, but admissions remain flat.
“We are happy that the revenue generated from Nollywood and Hollywood films are at par, and Nollywood is projected to deliver higher box office revenue in the second half of the year.
“For the first time, we expect Nollywood to contribute more to the box office than Hollywood in 2025 while also projecting a 40% growth on last year’s box office.”
He said that Hollywood films released in August included Alien Romulus, It Ends with Us, Trap, Blink Twice, Afraid, The Crow, and Borderlands. Also, Nollywood films for August are Betrayed, Move Like a Boss, The Weekend, and Force Empire.
