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Nigerians spend N6.94bn at the movies in 2022

Nigerians spend N6.94bn at the movies in 2022
Photo by Alex Litvin- Ask Nigeria

This record-breaking statistic show that cinema culture is on the rise.

Once upon a time, seeing a movie at the cinema in Nigeria was a luxury reserved for only the affluent, the upper class (some have termed the “upper middle” class) in the Nigerian society. It was the era where home videos in video compact discs (VCDs and DVDs) thrived. However, in just a few decades, the cinema culture is on the rise in Nigeria as Nigerians have started to spend more on movies in the country, both foreign and local.

The data released by the Cinema Exhibitors Association of Nigeria (CEAN) showed that Nigerians spent a record-breaking N6.94 billion on movies in 2022. This is N2.2 billion more than the N4.7 billion revenue generated from movies in 2021. Although the amount represents a 31.7 percent increase in revenue in 2021 compared to 2020, the increase is lower when compared to the 55.7 percent increase from the year 2019, whose figure was at N2.1 billion in gross earnings.

Global lockdown in 2020 resulted in less revenue on movies.

Information is justified because of the global lockdown caused by the COVID-19 pandemic. The lockdown in Nigeria caused movies to make less money because Nigerians were forced to adopt other means of leisure. This includes watching the movies that they would have otherwise seen at the cinema on streaming sites such as Netflix. Uncoincidentally, Netflix generated $24.9 billion in revenue in 2021, a 23.8 percent increase on the previous year. Since then, the company has continued to generate higher revenue.

Nigeria continues to lead the recovery in post-pandemic Africa on the back of local industry. Hence, Nigerians may be enthusiastically adopting movie culture at a much faster pace. According to the data released by Technext, Jade Osiberu’s “Brotherhood” is the most-grossed Nollywood movie in 2022. The movie earned over N328 million in gross revenue. The movie, “King of Thieves,” closely followed, generating N321 million the same year. For Hollywood movies, “Black Panther 2: Wakanda Forever” was the highest-grossing Hollywood movie with N926 million in revenue. This was followed by “Woman King” with N472 million in gross revenue. According to records, “Wakanda Forever” is on track to becoming the first one-billion-naira-grossing movie.

Rise in average ticket prices contribute to increase in movie revenue.

The Box Office statistics have revealed that cinema admissions remained roughly the same with those of the previous year. Consequently, the biggest contributor to the increase in movie revenue was the rise in average ticket prices. In other words, movies earned more in 2022 because Nigerians paid more than they did the previous year. Cinema admissions in 2022 were a bit lower than the previous year. Cinemas recorded 3,188,732 annual admissions in 2022, while they recorded 3,239,336 annual admissions in 2021.

Africa recorded giant strides in the movie industry as Hollywood directed their focus on producing Afrocentric content and engagement. Movies, such as “Black Panther 2” and ‘The Woman King,” were a demonstration of that effort. “Black Panther” is one of the first superhero Hollywood movies to focus on Africa (though Wakanda is a fictional country) and generate enough global engagement that produced the results that have been witnessed so far. The concept is not only unique but also an ego booster for Black people, particularly Africans.

Nollywood must maintain its momentum through quality and proper storylines.

Despite the country’s difficult economic situation, Nigerians are rapidly adopting the cinema culture. People are ready to spend more at the movies as a means of leisure. This does not imply that they are unaware of the situation but that they don’t care even as they face an overwhelming issue of rising ticket prices. Much work was dedicated in 2022 to providing Nigerians quality and relatable content, which kept them consistently visiting the cinemas. For Nollywood to maintain this momentum and keep grossing numbers and revenues high, consistent curation of quality-video movies and properly written storylines should be the industry’s hallmark.


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Admin
1
17 days ago

Nigerians spend N6.94bn at the movies in 2022This record-breaking statistic show that cinema culture is on the rise. – Express your point of view.

Member
9
16 days ago

The culture of watching cinema movies is on the rise and government needs to encourage our movie makers and help them.with loans in order to make world class movies with good story lines and quality videos.

Member
9
16 days ago

The culture of cinema is on one rise in nigeria and our government needs to support our film producers inorder to churn.out good,quality and well written stories that would propel the image of nollywood in better limelight and,kudos to all our movie producers.

Abusi
Member
8
16 days ago

This is so profound. Our Nollywood industry is really moving higher. The usage of cinema is raking in more revenues and it will help boost the entertainment sector more. Very nice thing to behold.

Member
8
16 days ago

Before, going to the movies in Nigeria was a luxury that only the country’s wealthiest people could afford, but thank God times have improved in this regard.

Member
8
16 days ago

Spending on movies, both domestic and international, has increased significantly in Nigeria over the past few decades, contributing to the country’s burgeoning cinematic culture.

Member
8
16 days ago

Due to the lockdown in Nigeria, less people went to the movies, which resulted in reduced revenue for the cinema industry. This was because Nigerians were compelled to find other forms of entertainment.

Member
8
16 days ago

As a result of the strength of its domestic manufacturing sector, Nigeria is in the vanguard of the continent’s post-pandemic recovery.

Member
8
16 days ago

The most significant factor in the gain in revenue generated by movies was the average price of admission, which is a positive development.

Member
8
16 days ago

It is quite encouraging to learn from the numbers provided by The Box Office that the number of people going to the movies has been relatively consistent with that of the previous year.

Member
8
16 days ago

It is encouraging to learn that Africa has made significant headway in the film business as a direct result of Hollywood’s increased emphasis on the creation of Afrocentric content and engagement.

Member
8
16 days ago

Movie attendance dropped as a result of the lockdown in Nigeria, resulting in lower box office receipts. The Nigerian people had no choice but to seek for alternative amusement.

Member
8
16 days ago

What a deep thought. Nollywood, here in Nigeria, is on the rise. Cinema is bringing in more money than ever before, which is great news for the entertainment industry as a whole. What a lovely sight to see

Member
8
16 days ago

Hollywood’s focus on Afrocentric material and involvement has helped Africa advance in the film industry, which is positive.

Member
8
16 days ago

Consistent selection of high-quality video movies and well-written plots should be the industry standard if Nollywood wants to continue its pace and keep grossing figures and revenues high.

Member
8
16 days ago

Nigeria’s film industry requires help from the government if it is to continue producing high-caliber films with compelling narratives. Nollywood must maintain this pace in order to guarantee increasing sales.

Member
8
16 days ago

A great news for the entertainment industry as a whole. The lock down play its part. It is a massive boost to the entertainment sector.

Member
8
16 days ago

This show that our movies is rising necessary step and need to make our movies more higher than this is needed our cinema culture needs to rise well so we can be producing good movies with a good story lines

Member
8
15 days ago

If Nollywood wants to maintain its pace and keep grossing figures and profits high, the industry standard should be a consistent variety of high-quality video movies with well-written narratives.

Member
9
15 days ago

This record-breaking statistic show that cinema culture is on the rise. Government need to encourage our own cinema. We are really trying

Member
9
15 days ago

Cinema viewing has increase in Nigeria since some years back because most people want to go out and enjoy themselves and see life in another way round.

Member
8
15 days ago

It is so surprising and revealing that Nigerians now spend up to ₦6,94 on cinema rather than invest it on something profiting

Member
8
15 days ago

₦6.94bn spend on movies by Nigerians is so surprising rather than investing on what can yield you maximum profit.

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