NIGERIAN CINEMAS EARN ₦2.25BN IN Q1 2024 DESPITE TICKET HIKE
Nigeria’s cinemas generated ₦2.25 billion from ticket sales in the first quarter of 2024, according to Filmone Entertainment’s Nigerian Box Office Year Book for 2023, released on Monday.
This period saw a significant increase in revenue compared to the ₦1.5 billion generated in the first quarter of 2023. The total number of admissions in Q1 2024 was 596,609, down from 620,477 in the same period in 2023. The average ticket price in Q1 2024 was ₦3,765, compared to ₦2,479 in 2023.
The report highlighted a 46% year-on-year improvement in box office revenue, despite a 52% rise in ticket prices. However, there was a 4% decline in admissions, indicating a negative correlation between admissions and ticket prices.
Nollywood films accounted for 56% of the box office revenue in Q1 2024. The highest-grossing
film, “A Tribe Called Judah,” contributed 27% to the overall Q1 revenue, while Warner Bros.’ “Aquaman and the Lost Kingdom” accounted for 11%.
In Q1 2024, 40 new titles were released in Nigerian cinemas, excluding spillovers.
