Nigerian cinema’s revenue records dropped in February
By Felicia Nwosu
The Cinema Exhibitors Association of Nigeria (CEAN) has announced that it recorded a significant drop in its total sales for the month of February, which fell to N278 million as ticket sales across cinemas nationwide compared to N819 million realised in January.
This was revealed by Ope Ajayi, CEAN’s National Chairman, who noted that the declined sales was prompted by the cashless policy which caused economic hardship and poor network service delivery being experienced by POS operators nationwide. Mr. Ajayi pointed out that the cinemas also had 122, 295 gross admissions within the period under review.
Recall that the Chairman had, in January, announced an increase in sales of about N819, 154,913.00 with 324,408 total numbers of admissions at the cinemas.
According to him, cinemas had limited content to exhibit in the month of February, as movie producers avoided releasing movies during the election period which made content somewhat limited.
Meanwhile, he reaffirmed that Nigeria’s movie industry continues to lead the recovery in Africa post-COVID pandemic which indicated that Nigeria cinemas generated total revenue of N6.94 billion in 2022, against revenue of N4.74 billion in 2021.
“The box office raked in N4.74 billion in 2021, N2.1 billion in 2020, N6.4 billion in 2019, and N5.98 billion in 2018. For 2022, the increase in average ticket price led to revenue growth and admissions remained flat in the previous year,” he said.
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