The Nigerian field workplace has achieved a unprecedented milestone, crossing the N1 billion mark in gross earnings inside a single week for the primary time in historical past.
Between December 20 and December 26, 2024, the field workplace amassed a staggering N1.02 billion, cementing its place as a rising powerhouse in international cinema.
Boxing Day, December 26, 2024, proved to be the crown jewel of this historic achievement. On that day alone, the trade set a brand new report with an astonishing N256.4 million in ticket gross sales, making it the highest-grossing single day in Nigerian cinema historical past, Nile Leisure reported.
This exceptional feat shattered the earlier report of N89.8 million, emphasizing the rising urge for food for movies in the course of the festive season.
The size of this achievement is clear when evaluating December field workplace performances from earlier years.
- In 2018, weekly earnings between December 21 and December 28 stood at N368.4 million.
- This determine regularly elevated in subsequent years, with 2019 recording N316.2 million, 2020 bringing in N302.4 million, and 2021 reaching N502.9 million.
- By 2022, earnings hit N526.7 million, and in 2023, the numbers skyrocketed to N804.3 million.
Nevertheless, 2024 has set a completely new benchmark, solidifying its place as essentially the most profitable December week within the trade’s historical past.
This unprecedented progress displays the growing recognition of Nollywood and worldwide titles inside the Nigerian market.
The exceptional efficiency of movies launched throughout this era demonstrates the strategic timing of blockbuster debuts and the constant enthusiasm of audiences desirous to rejoice the season with leisure.
Extra insights
The milestone is greater than only a monetary achievement; it’s a testomony to the evolution of the Nigerian movie trade and its increasing international footprint.
- With 2024 marking a brand new excessive, expectations for the years forward are even better. Business analysts predict that this momentum will encourage extra bold productions and better viewers engagement, setting the stage for much more groundbreaking achievements in 2025.
- Ope Ajayi, President of the Cinema Exhibitors Affiliation of Nigeria, had beforehand shared an optimistic outlook on the future of the Nigerian cinema industry.
- Chatting with Nairametrics, Ajayi predicted that with an annual progress price of 40-45%, the trade may obtain a field workplace income of N45 billion inside the subsequent 4 years, doubtlessly reaching N50 billion.
- This optimistic forecast is underpinned by expectations of high-quality movie content material and the continued enlargement of cinemas nationwide.
Ajayi additionally emphasised that field workplace income is only one part of the cinema trade’s broader income streams. He famous that, in some situations, field workplace earnings make up lower than half of a cinema’s whole earnings.
