In an intriguing twist for Nigeria’s entertainment industry, cinema attendance surged while box office revenues witnessed a sharp 15% decline last month. The revelation, made by Opeyemi Ajayi, Chairperson of the Cinema Exhibitors Association of Nigeria (CEAN), adds a layer of complexity to the nation’s cinematic landscape.
Ajayi disclosed that despite an upswing in the number of moviegoers, the total revenue generated across all cinemas in Nigeria was N482 million in July. This figure represents a noticeable downturn from the N567 million recorded the preceding month, illustrating a challenging financial trajectory for the sector.
Within the same breath, Ajayi acknowledged that cinema attendance experienced a modest upswing in July, largely attributed to the presence of numerous public holidays during the month. While the surge in footfall painted an encouraging picture, the substantial revenue drop serves as a cautionary tale for the industry.
Encouragingly, a total of 218,395 viewers graced the halls of Nigerian cinemas during July, marking a 3.85% increase from June’s count of 210,299. Ajayi emphasized the importance of capitalizing on these upward trends by urging more Nigerians to incorporate cinema visits into their leisure routines.
“We recorded a total sales of N482,528,117 for July with 218,395 viewers in the cinemas,” Ajayi highlighted, underlining the sector’s enduring appeal and potential. “The cinemas are not doing bad but we encourage more Nigerians to cultivate the habit of visiting the cinemas.”
Looking ahead to August, cinephiles can anticipate a diverse lineup of films, including ‘Akuddaya,’ ‘Meg 2,’ ‘Teenage Mutant Minja,’ ‘A Bag of Trouble,’ ‘Blue Beetle,’ ‘Mikolo,’ ‘The Modern Woman,’ ‘Retribution,’ and ‘Kesari.’ These offerings seek to captivate audiences and potentially reverse the downward revenue trend that marred the previous month.
The fluctuations in revenue and attendance are reflective of the broader challenges that have beset Nigerian cinemas throughout the year. Scarce availability of the naira and its significant impact on financial stability have cast a shadow over the industry. The year began on a brighter note, with revenue reaching a peak of N819 million in January. However, subsequent months saw a notable decline, with February’s earnings plummeting to N278 million.
May’s earnings remained in the shadow of April, with a N52 million gap underscoring the sector’s struggle to maintain financial traction. As the cinema industry navigates these economic hurdles, sustained efforts are needed to reinvigorate revenue streams and ensure the sector’s enduring vibrancy.
