In an interview with the News Agency of Nigeria on Tuesday, Opeyemi Ajayi, the National Chairman of the Cinema Exhibitors Association of Nigeria (CEAN), announced a noteworthy recovery for cinema box-office sales. Following a decline in May, where sales reached a disappointing N514 million, the cinema exhibitors bounced back in June, raking in an impressive N56 million.
Ajayi further revealed that during the reviewed month, approximately 210,299 viewers were catered to across the various cinemas. Offering a detailed analysis of the revenue surge in June compared to the previous month, he elaborated that the number of viewers witnessed a rise of 13,057, while sales experienced a commendable increase of N53 million.
He said, “We were able to rake in N567,899,087 for the month of June with 210,299 viewers admission across the cinemas. We have a slight increase in sales in the month of June when we got N567, 899,097 and in May we sold N1,653,363 with 197,242 viewers admission.
He announced that a lineup of exciting movies would grace the cinemas throughout the month of july. The captivating films to be showcased include “Lust Lobe and Other Things, “Mission Impossible 7, “Insidious, “Orisha, “Oppenheimer, “Hotel Labamba,” and “Unforgivable.”
Background
Earlier this year, Nairametrics highlighted the adverse effects of naira scarcity on cinema sales in Nigeria. The impact was evident in May, as sales experienced a significant drop of N52 million compared to April. Several factors contributed to this decline, including the scarcity of naira, cash constraints, subpar network services, and a limited number of movie releases during the election period.
In the month of March, the association documented a remarkable total sales figure of N441,752,914 across all cinemas, accompanied by an impressive attendance of 174,071 viewers who availed themselves of the cinematic experience.
He says ”Sales in March were encouraging compared with February when we recorded total sales of N278 million due to activities of the Presidential and National Assembly elections, as well as the national problem of cash crunch.”
In the month of February, cinema operators in Nigeria witnessed a substantial decline in sales, plummeting to N278 million from the previous month’s figure of N819 million. The National Chairman of the Cinema Exhibitors Association of Nigeria (CEAN) disclosed that the total number of admissions during this period was 122,295, reflecting the impact of the sales downturn.
The chairman says “A couple of reasons are responsible for the drop in sales. We lost a weekend of sales during the Presidential and National Assembly elections, and Nigerians’ attention was focused on voting across the country.
“Cash crunch and POS failures, affecting trading generally, are also affecting the cinemas. Many movie producers and distributors avoided releasing movies during the election period. So, the content was also somewhat limited,” he added.
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