According to a quarterly report on the Nigerian film business published by Inside Nollywood, the Nigerian film industry has recorded an all-time low in cinema attendances and viewership.
The report puts Nollywood’s market share in cinemas at 25.8 per cent, a drop from the 39.3 per cent it held in the first half of 2021. It also reveals that total cinema admissions remained at 1.49 million in both years, with only 7 000 more entries recorded in 2022.
The report further disclosed that the increase in total admissions counted in favour of Hollywood titles, which left Nollywood films scrambling for a smaller percentage of cinema-goers.
In 2022, ten Nollywood films opened the year with ‘Spiderman: No Way Home’, which was in its third week. The top Nollywood players were ‘Christmas in Miami’, ‘Aki & PawPaw’, and ‘Superstar’, all of which were in the top five.
The report stated, “The 2022 drop is an all-time low despite the industry’s stable streak in the last five years. Year after year, the industry had flirted with about 40 per cent market share while Hollywood held the remaining 60 per cent.”
The report also reveals that in the first half of 2021, 1,491,530 tickets were sold, and Nollywood could clinch 964,523. However, in the first half of 2022, out of the 1,498,934 tickets sold, Nollywood counted for 520,656, a 46 per cent decrease from the previous year.
According to the report, the Nigerian film audience is beginning to depend more on streaming services to see Nollywood films, even though the filmmakers, distributors and other stakeholders have their hand in this new trend.
The report further breaks the Nigerian film audience into different sectors:
The Asaba film audience (YouTube)
The cable TV audience
The cinema audience
The streaming audience
It also divides it into Netflix versus Amazon. Netflix accounts for 57.5 per cent of streaming viewership, followed by Amazon Prime, which stands at 21.7 per cent. Showmax makes up 9.4 per cent, leaving others with only 11.3 per cent viewership.