Nigeria’s cinema grossed N2.25 billion from ticket sales in the first quarter of 2024.
This was made public in the Nigerian Box Office Year Book for 2023 by independent film distribution and production firm Filmone Entertainment, which was made available on Monday.
When compared to the N1.5 billion earned in the first quarter of 2023, ticket sales during the period under review showed a notable gain.
Details show that 596,609 people were admitted to theatres in the first quarter of this year, compared to 620,477 attendance during the same period in 2023.
Also, average ticket price in the first quarter of the year stood at N3,765 and N2, 479 for 2023.
The details reads:
“The box office revenue for Q1 2024 is N2.25 billion, inclusive of spillovers, with 596,609 admissions.
“Year-on-year, this is a 46 per cent improvement in box office revenues, although ticket prices have indeed gone up by 52 per cent.
“Nonetheless, despite the huge spike in ticket prices, the admissions rate is down by 4 per cent year-on-year, which translates to a negative correlation of admissions to ticket prices.
“We have seen Nollywood hold 56 per cent of the box ofice over the period, with the highest grossing film of the year: A tribe called Judah, responsible for 27 per cent of the Q1 overall revenue, and Warner Bros. Aquaman and the lost kingdom with 11 per cent.
“There have been a total of 40 new titles released in the territory already in Q1 excluding spillovers.”
