The Cinema Exhibitors Association of Nigeria (CEAN) has reported that movie ticket sales generated N514.7 million in May, marking a decrease of N52 million compared to April. This decline was noted to be attributed to factors such as the effect of naira scarcity, cash crunch, poor network service, and limited movie releases during the election period.
However, CEAN’s National Chairman, Mr. Opeyemi Ajayi, has given hope that cinema lovers can expect to have a memorable June as the arrival of first-rate films will give a boost.
Notwithstanding the decline in box office sales in Nigeria, cinema operators remain positive about the future, expecting a boost in revenue with the release of new films. The report ;
- “Shows a decline of N52 million compared to the N566 million tickets sold in April.
- “A total of 197,242 patrons also bought tickets at the box office in May showing a decline of 23,539 when compared with the 220,781 tickets sold in April.
- National Chairman of CEAN, Mr Opeyemi Ajayi added “For May, we were able to generate N514,653,363 with 197,242 viewers admission,
- “Cinema lovers can look forward to memorable times this June as there would be first-rate films.”
The effect of the naira scarcity earlier this year affected cinema operations in Nigeria, it was reported in March that Cinema operators in Nigeria announced a huge drop in sales for February as sales fall to N278 million compared with N819 million in January.
It was also reported that Operators blamed the cash crunch and unfavorable network service delivery being experienced by POS operators nationwide for the decline in sales, which was also impacted by the Presidential and National Assembly elections. The report also said;
- “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,”