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The Nigerian movie theaters made over N5 billion in money from January to July 2024. They aim to reach N10 billion by the end of the year.
This good news comes from a report shared on July 20, 2024, by the Nigerian box office.
The report says that movie tickets cost around N3,900 each. This helped a lot to collect this big amount of money.
Even though people have less money to spend, 1.3 million tickets were sold this year so far. But this is half of the 2.6 million tickets sold in 2023.
In the first three months of 2024, revenue from ticket sales jumped to N2.25 billion from N1.5 billion in the same period of 2023. This shows that the Nigerian box office is doing well even when the economy is tough.
What we know
Both Hollywood and Nollywood movies have helped in making this much money. For example, the movie “Bad Boys: Ride or Die” made N408 million. In the first part of 2024, Nollywood movies earned more, making 56% of the total revenue.
The top 15 movies of 2024, including some from 2023, have brought in a lot of money.
Leading the list is Funke Akindele’s movie “A Tribe Called Judah,” which made N609.1 million with 160,326 tickets sold. “Bad Boys 4,” which came out on June 7, 2024, made N408.8 million with 89,839 tickets sold. Kayode Kasum’s movie “Ajosepo” made about N256.6 million with 69,903 tickets sold. Eniola Ajao’s movie “Ajakaju: Beast of Two Worlds” earned N252.8 million with 72,410 tickets sold. It even premiered on Amazon Prime later.
Other popular movies include “Godzilla X Kong” with N244.4 million and 61,180 tickets sold, “Aquaman 2” with N243.5 million and 61,966 tickets sold, and “Dune 2” with N183.8 million.
What to know
Over the past three years, the Nigerian box office made a total of N19 billion. This is due to a lot of movies being released and more people buying tickets from 2021 to 2023.
In 2023, the Nigerian box office made N7.24 billion. They made N6.94 billion in 2022 and N4.74 billion in 2021. All of this added up to about N19 billion. Even though fewer tickets were sold in 2023 (a 16.6% drop), the ticket prices went up by 27%, reaching N2,759.