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