Box Office: Nigerian Cinemas Rake In N6.9 Billion Revenue

Box office returns from Nigerian cinemas in 2022 stand at N6.9 billion, as revealed by the Cinema Exhibitors Association of Nigeria (CEAN).

While revealing the figures in a chat with the News Agency of Nigeria (NAN) in Lagos, CEAN National President, Opeyemi Ajayi, added that there was an increase in revenue generation in 2022 compared with the previous years.

Speaking on the record-breaking Hollywood superhero movie 'Black Panther: Wakanda Forever', Ajayi stated that it is on track to become the first to reach the N1 billion mark.

“The box office raked in N4.74 billion in 2021, N2.1 billion in 2020, N6.4 billion in 2019 and N5.98 billion in 2018.

Nigerian cinemagoers

“For 2022, the increase in average ticket price led to revenue growth and admissions remained flat in the previous year.

“Nigeria continues to lead the recovery in Africa, post COVID on the back of strong local industry.

"Also, Hollywood continues to focus on African content and engagement is very positive for the box office.

“We observed that 'Black Panther' is on track to become the first N1 billion movie", he said.

”Collaborations between Hollywood and Nollywood on content is expected to continue in the foreseeable future.

”And with the breakout success of big Nollywood movies such as 'Brotherhood', 'Battle on Buka Street', 'King of Thieves', to mention a few, 2023 is expected to have larger budget movies and potential release outside the West African territory", Ajayi added.

According to the CEAN boss, the highest-grossing Hollywood films of 2022 are 'Black Panther: Wakanda Forever', 'The Woman King', "Dr Strange In the Multiverse of Madness', 'Thor: Love and Thunder' and 'Black Adam'.