Cinema in Nigeria, Nollywood movies

Figures from the Cinema Exhibitors Association of Nigeria (CEAN) indicate that the top 20 films grossed a total of N266 million in the month of February. (Figures for 4 days, February 11 to February 14, are however omitted).  

At an average of N8.8 million grossed daily, February gross figures would still come in lower than the N350 million recorded in the month of January and the over N600 million recorded in December 

The breakdown  

For the period spanning 1st to 7th of February, 2019, the top 20 films grossed a total of N68.2 million. Glass grossed N11.4 million, Upside” grossed N10.4 million, and Chief Daddy rounded up the top three with a N10 million gross  for the week in question.

For the weekend spanning the 8th to 10th of February, 2019, the top 20 films grossed N41.7 million.

Cold Pursuit grossed N10.8 million, Escape Room grossed N7.4 million, while Upside grossed N3.5 million.  

Earnings by the top 20 films rebounded for the period Feb 15 to Feb 21, 2019 amounting to N89.7 million. Alita grossed N40.9 million, “Cold Pursuit dipped slightly, grossing N9.8 million. Escape Room was the third highest grossing film, with takings of N8.4 million.  

For the period spanning Feb 22 to Feb 28, 2019, total gross amounted to N67 million. What Men Want grossed N29.4 million, Alita declined slightlygrossing N8.6 million, while “Escape Room rounds up the top threegrossing N3.3 million.  

 

Could the elections have caused the drop 

The rescheduled elections may be a reason for the lower revenue earned. Elections were initially scheduled for Saturday16th of February, but got shifted. Weekends are key periods for cinemas, as individuals tend to come out in large numbers.  

The elections were then shifted by one week to Saturday 23rd  February, 201 more downtime for cinemas. 

 

Onome Ohwovoriole has a degree in Economics and Statistics from the University of Benin and prior to joining Nairametrics in December 2016 as Lead Analyst had stints in Publishing, Automobile Services, Entertainment and Leadership Training. He covers companies in the Nigerian corporate space, especially those listed on the Nigerian Stock Exchange (NSE). He also has a keen interest in new frontiers like Cryptocurrencies and Fintech. In his spare time, he loves to read books on finance, fiction as well as keep up with happenings in the world of international diplomacy. You can contact him via onome.ohwovoriole@nairametrics.com

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