On Wednesday, the Cinema Exhibitors Association of Nigeria (CEAN) said cinemas across the country recorded 1,199,661 visitors in the first half of 2024, generating N4.6 billion in revenue.
Ope Ajayi, the Chairman of CEAN, who was interviewed by the News Agency of Nigeria (NAN) in Lagos, disclosed this.
According to him, revenues increased significantly in the first half of the year compared to the same period in 2023, marking significant growth in the industry.
He said N3 billion in revenue was generated in the first half of 2023.
Mr. Ajayi expressed his delight that the revenue generated by Nollywood and Hollywood movies in theatres has started to be on par, a testament to the growing influence and success of Nollywood in the industry.
He said: “In the first half of the year, Nollywood movies earned N2,325,930,952 while Hollywood movies generated N2,321,273,174 in revenue. We also recorded 559,122 total admissions for Hollywood movies and 640,539 for Nollywood movies.
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“Box office revenue grew by 34 percent in the first half of the year compared to last year, but admissions remained flat. We are happy that revenue generated by Nollywood and Hollywood films are on par. Nollywood is projected to generate higher box office revenue in the second half of the year.
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“For the first time, we expect Nollywood to contribute more to the box office than Hollywood in 2025, while at the same time projecting a 40 percent growth over last year’s box office.”
He also shared the exciting news that Hollywood movies releasing in August include Alien: Romulus, It Ends with Us, Trap, Blink Twice, Afraid, The Crow and Borderlands, promising a diverse and exciting cinematic experience for the audience.
Also, Nollywood movies for August are Betrayed, Move Like a Boss, The Weekend and Force Empire.
(YAYA)