Nigerian Box Office grosses N1bn in Christmas week

• Published On: 29 December 2024 at 19:03

The Nigerian box office has reached a historic milestone, exceeding N1 billion in gross earnings in a single week for the first time.

Between December 20 and December 26, 2024, the industry earned an impressive N1.02 billion, a significant accomplishment that cements Nigeria's growing influence in global cinema.

Boxing Day, December 26, 2024, was the pinnacle of this incredible achievement. According to Nile Entertainment, the industry set a new single-day record of N256.4 million in ticket sales, the highest daily earnings in Nigerian cinema history.

This achievement shattered the previous record of N89.8 million, demonstrating the growing demand for films, especially during the holiday season.

The scale of this success is even more impressive when compared to previous December box office performances. In 2018, earnings from December 21 to December 28 totalled N368.4 million.

This figure gradually increased in subsequent years, with 2019 recording N316.2 million, 2020 at N302.4 million, and 2021 at N502.9 million. Earnings increased significantly to N804.3 million in 2023, up from N526.7 million in 2022. Now, 2024 has set a new record for the highest-grossing December week in the industry's history.

This increase in box office earnings reflects the growing popularity of both Nollywood and international films in Nigeria. The strong performance of films released during this time period demonstrates the strategic timing of major debuts, as well as the growing enthusiasm of audiences looking to celebrate the holiday season with entertainment.

This historic achievement extends beyond financial success. It represents the Nigerian film industry's ongoing evolution and global expansion. With 2024 representing a new high, industry experts are optimistic about the future. Analysts predict that this momentum will result in even more ambitious projects and increased audience engagement, paving the way for additional milestones in 2025.

Ope Ajayi, President of the Cinema Exhibitors Association of Nigeria, expressed optimism for the industry's future. In an interview with Nairametrics, Ajayi predicted that with an annual growth rate of 40-45%, the industry could generate N45 billion in box office revenue over the next four years, potentially exceeding N50 billion.

He also stated that box office revenue is only one aspect of the cinema industry's overall financial landscape, with some cases representing less than half of a cinema's total income.