The Cinema Exhibitors Association of Nigeria (CEAN) announced that Nigerian cinemas recorded 1,199,661 visitors and generated N4.6 billion in revenue in the first half of 2024, marking a significant growth in the industry.
According to CEAN Chairperson Ope Ajayi, this represents an increase from N3 billion in revenue in the first half of 2023. Ajayi expressed delight that revenue from Nollywood and Hollywood films is now at par, showcasing Nollywood’s growing influence and success.
In the first half of 2024, Nollywood films earned N2,325,930,952, while Hollywood films generated N2,321,273,174 in revenue. Total admissions were 559,122 for Hollywood films and 640,539 for Nollywood films.
Box office revenue grew 34% in the first half of the year compared to last year, but admissions remain flat. Ajayi projects Nollywood to deliver higher box office revenue in the second half of the year and expects Nollywood to contribute more to the box office than Hollywood in 2025, with a projected 40% growth from last year’s box office.
The growth in revenue is a testament to the industry’s progress, with a notable increase in cinema attendance and revenue generation. The CEAN attributes this success to the quality of films being produced and the growing appetite for cinematic experiences in Nigeria.
