Nigeria’s cinema has generated a revenue of ₦2.25 billion from tickets sold in the first quarter of 2024.
According to the Nigerian Box Office Year Book for 2023 by Filmone Entertainment, an independent film distribution and production company, Nigeria’s cinema revenue from ticket sales in the first quarter of 2024 reached ₦2.25 billion.
This is a significant improvement compared to the ₦1.5 billion generated in the same period last year. According to details the number of admissions slightly decreased by 4% year-on-year, but the overall box office revenue increased by 46%.
It’s interesting to see Nollywood leading with 56% of the box office share, and films like “A Tribe Called Judah” and “Aquaman and the Lost Kingdom” making a big impact. Additionally, there were already 40 new titles released in Q1.
The details read:
“The box office revenue for Q1 2024 is ₦2.25 billion, inclusive of spillovers, with 596,609 admissions.
“Year-on-year, this is a 46% improvement in box office revenues, although ticket prices have indeed gone up by 52%.
“Nonetheless, despite the huge spike in ticket prices, the admissions rate is down by 4% year-on-year, which translates to a negative correlation of admissions to ticket prices.
“We have seen Nollywood hold 56% of the box office over the period, with the highest grossing film of the year: A tribe called Judah, responsible for 27% of the Q1 overall revenue, and Warner Bros. Aquaman and the lost kingdom with 11%.
“There have been a total of 40 new titles released in the territory already in Q1 excluding spillovers.”
