Nigerian cinemas are almost back to where they were at the start of the year. According to the Cinema Exhibitors Association of Nigeria (CEAN), cinemas made US$1.03 million in July, just slightly less than the US$1.19 million they made in January of this year. According to the report’s findings, the recovery has been sluggish throughout the year. The US$1.03 million spent in July represents a 30 per cent increase over the US$794 244,26 spent in June, while the amount spent in June was higher than the amount spent in May (US$759 173,73).
Fast & Furious 9 (F9) dominated the box office in July following its record-breaking opening weekend in June, driving revenue growth. During that time, the blockbuster film grossed a total of US$291 000,42. Just to put things in context, F9 made more than half that amount in its first weekend (US$136 641,56).
The increase in revenue was accompanied by an increase in movie attendance, as projected. In July, 296,908 people allegedly went to the movies, up 30 per cent from the 233,186 people who went in the first three weeks of June. However, the number of moviegoers was still lower than the 360,928 who went to the movies in January at the start of the year.
Since F9 was still in theatres, the first week of the month had the most significant number of moviegoers (85,325). The above mentioned resulting in the highest-grossing week of the month, with almost US$298 281,50 earned. The second week wasn’t as dreadful as some previous weeks for the cinemas, but it couldn’t match the first week’s volume despite the premiere of Marvel’s Black Widow movie.
The struggle between Hollywood and Nollywood for the Nigerian market is set to heat up in August, with blockbusters such as King of Boys 2 and Suicide Squad set to release. The recent increase in revenue earned by cinemas indicates that a recovery is on the way. However, when Nigeria’s box office numbers will reach their pre-covid peak remains unknown since the country’s worsening economic position remains a concern.
