Nigeria Cinemas Generated ₦4.6bn In 2024 First Half -CEAN

The Cinema Exhibitors Association of Nigeria (CEAN) said that cinemas produced ₦4.6 billion in the first half of 2024.

In an interview with the News Agency of Nigeria (NAN) in Lagos, Ope Ajayi, Chairman of CEAN, stated that the cinema received 1,199,661 visitors during the time under review.

According to him, income increased significantly in the first half of the year compared to the same period in 2023. He reported generating ₦3 billion in revenue during the first half of 2023.

Ajayi expressed joy that money generated by Nollywood and Hollywood films in cinemas was beginning to match, calling the development as the way forward.

He said: “Nollywood films raked in ₦2,325,930,952 while Hollywood films generated ₦2,321,273,174, as revenue in the first half of the year.

“We also recorded 559,122 total admissions for Hollywood films and 640,539 for Nollywood films.

“So, box revenue grew by 34% in the first half of the year, when 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 ever, 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.”