On Saturday, September 2, 2023, moviegoers in Nigeria experienced the inaugural National Cinema Day, offering reduced ticket prices at ₦1,000 to reward loyal fans and rekindle the love of the big screen among former customers.
The revenue for that weekend dropped to 76,260,497 naira, from the previous weekend’s 84,150,882 naira. The Saturday gross of 24,574,146 naira was also lower than the previous Saturday’s 27,017,090 naira gross. While the revenue figures might have been discouraging for some stakeholders, there were positives to take from the attendance figures.
The attendance for that weekend reached 39,091, making it the second-highest attendance figure of the year, behind the year’s opening weekend of 53,199. The nationwide Cinema Day led to a significant jump in that Saturday’s attendance, which accounted for 55% of the weekend’s total, with 21,331 admissions. This marked the highest Saturday attendance of the year and surpassed the previous Saturday’s attendance of 9,567 by 123%.
These figures suggest that the reduced ticket prices led to lower per-ticket earnings. This reflects a balancing act for the cinema industry, showing a potential issue of sustainability in relying on price promotions to drive consistent audience engagement. However, memory also reminds us that the inaugural event came as a surprise announcement on August 29 and was not given adequate promotion ahead of the September 2 D-Day when many film lovers were still left unaware of the irresistible discount.
The figures from that inaugural event were released in FilmOne Entertainment’s recently released yearbook, which documents performance and trends within the West African cinema industry over the past year.
Although the general number of cinema-goers has dropped, as a result of the country’s harsh economic conditions and other factors, the overall box office revenues saw a significant rise due to the increased ticket prices.
Below are some other key highlights from the yearbook (with data sourced from Comscore), including the top-performing cinema locations and exhibitors.
Best Performing Movies at The Cinema
– A Tribe Called Judah became the first Nollywood title to surpass 1 billion.
– Barbie became the first Hollywood drama to exceed 200 million in the Nigerian territory.
– Creed III became the first sports drama to surpass the 100 million Naira mark in the territory.
Increase In Revenues Despite Decrease In Footfall
The 2.6 million admissions recorded last year represented a significant drop in cinema attendance in the country. This decline in attendance can be attributed to various factors, such as the increase in ticket prices and the challenging economic conditions in the country, which have impacted the overall cinema experience. However, despite the decline in cinema attendance, total box office revenues reached $7.3 billion, the highest in five years.
The Best Performing Cinema Locations in Nigeria in 2023
Among the numerous cinema locations managed by Filmhouse, The Filmhouse Cinema in Lekki, Lagos, emerged as the top performer for the third consecutive year. Known for its state-of-the-art facilities, strategic location, and diverse movie selection, this location with 6 screens raked in 475,844,500 naira of the country’s total gross.
The second best-performing cinema is Silverbird Ikeja, earning 463,759,950 naira. Mo Abudu’s EbonyLife Cinema generated #453,394,600 as the third-best performing cinema. Kada Cinema in Benin City, the Edo State Capital, netted 312,795,170 naira while Filmhouse Cinema in Surulere realized 276,060,000 naira. Interestingly, OOPL Cinema (Abeokuta, Ogun State) makes its way to the top 25 list as the only 1-screen cinema ranked that high.
Based on admissions, Silverbird Ikeja leads the way for a 3rd consecutive year with 175,598 tickets, Kada Benin closely behind with 139,693, EbonyLife Cinemas with 120,125, Filmhouse Lekki with 109,085 and Silverbird Jabi Lake Mall with 96,046 admissions.
Box Office Revenue For The First Quarter of 2024
The box office revenue for the first quarter of 2024 amounts to 2.25 billion naira and a total of 596,609 admissions (including spillovers), with A Tribe Called Judah boasting a 27% contribution. This reflects a 46% increase in box office revenue compared to the first quarter of 2023 (1.5 billion naira). However, the admission figures have decreased from 620,477 in 2023 Q1 to 596,609 in 2024 Q1.
Looking Ahead
According to the yearbook, viewers can expect Funke Akindele’s Finding Me in June, and Tobi Bakre-led Farmer’s Bride in September.
Nigeria’s Cinema industry has encountered difficulties in the past few years, such as piracy, inadequate infrastructure, the emergence of streaming services, stagnant storytelling levels, and the high cost of living in the country. Also, the nation has 75 movie theatres, which is relatively low for a population of over 200 million.
The insights from Filmone’s yearbook highlight the changing pattern of the Nigerian cinema industry. While financial growth remains a challenge, the decrease in audience numbers is a negative sign for the future. As cinemas attempt to innovate and adapt to changing consumer behaviour, there is optimism that both footfall and revenues will align more closely in the coming years.
With sights set on more events like Cinema Day, improved cinema facilities and more quality films, the outlook for Nigeria’s cinema industry isn’t exactly glowing. But there is a flicker of hope that things would get better if done right.
Read the full 94-page yearbook report here.
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