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The Cinema Exhibitors Association of Nigeria (CEAN) has announced a landmark achievement for the Nigerian film industry in 2024, with the box office recording an impressive 60% revenue growth. According to CEAN’s National Chairman, Mr. Ope Ajayi, the industry generated ₦11.5 billion in ticket sales in 2024, compared to ₦7.2 billion in 2023.
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A Resilient Industry Thriving Amid Challenges
Despite Nigeria’s challenging economic climate, the cinema industry experienced remarkable growth. Ajayi highlighted that cinemas welcomed 2.66 million patrons in 2024, up from 2.54 million in 2023.
“This is a remarkable achievement and a testament to the industry’s resilience, creativity, and determination. For the first time since 2020, we are seeing growth in cinema admissions, signaling a significant upturn in the subsector,” Ajayi stated.
Top Performers: Nollywood and Hollywood Box Office Hits
Nollywood’s Top Five Films in 2024:
- Everybody Loves Jennifer – ₦1.124 billion
- Queen Lateefah – ₦365.5 million
- Ajosepo – ₦257.3 million
- Ajakaju – ₦252.8 million
- Alakada Bad & Boujee – ₦229.1 million
Notably, Everybody Loves Jennifer and Alakada Bad & Boujee are still showing in cinemas, contributing to their continued success.
Hollywood’s Top Five Films in 2024
- Deadpool & Wolverine
- Bad Boys 4
- Gladiator II
- Moana 2
- Venom 3
The Evolution of Nollywood
The Nigerian film industry, informally referred to as Nollywood, has evolved into a global powerhouse. It is the largest film industry in Africa by volume, number of annual productions, revenue, and popularity. Globally, it ranks as the second-largest film producer.
The roots of Nigerian cinema date back to the late 19th century and the colonial era of the early 20th century. Its contemporary significance was underscored in 2016 when the industry contributed 2.3% to Nigeria’s Gross Domestic Product (GDP).
Industry Outlook
Ajayi attributed the 2024 success to the resilience of filmmakers, producers, and distributors, as well as the ingenuity of Nollywood creatives. He emphasized the potential for further growth as the industry embraces digital technologies, strengthens storytelling, and explores new market opportunities.
The 2024 performance underscores the enduring appeal of cinema in Nigeria and the growing influence of Nollywood on the global stage.
