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Cinemas Records Over 500 Million Fall in Revenue

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CEM REPORT, ENTERTAINMENT | Activities in cinemas across Nigeria fell in the month of February as operators recorded a fall in sales in the month.

Cinema operators in Nigeria were able to pull in revenue worth N278 million in the month of February, a decline of 541 million from N819 million in January.

Operators report a total admission 122,295 persons during the period.

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The National Chairman of the Cinema Exhibitors Association of Nigeria (CEAN), Ope Ajayi, during an interview with the News Agency of Nigeria (NAN) in Lagos, attributed the fall in revenue to the current cash scarcity ravaging the country.

NAN reports that the operators also blame poor network service delivery being experienced by POS operators nationwide for the decline in sales, adding that the Presidential and National Assembly elections is also a contributing factor.

Additionally, it was noted that many movie producers and distributors avoided releasing movies during the election period. So, the content was also somewhat limited.

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“A couple of reasons are responsible for the drop in sales. We lost a weekend of sales during the Presidential and National Assembly elections, Nigerians’ attention was focused on voting across the country.

“Cash crunch and POS failures, affecting trading generally are also affecting the cinemas.”

It is worth noting that cinema operators generated total revenue of N4.74 billion in 2021 and N6.94 billion in 2022.

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