Comparing Nigerian Box Office Performance: January 2023 vs. 2024

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After enduring the harsh impact of COVID-19, is the big screen business back on the path to growth? Let's delve into the January box office performance of the past year compared to 2024, using data from The Cinema Exhibitors Association of Nigeria (CEAN) to shed light on trends and consumer preferences.

In January 2023, consumer spending hit a total gross cume of N942.59 million, while in January 2024, the numbers soared to N1.52 billion.

Here are seven key insights to note:

1. The Funke Effect: "A Tribe Called Judah" and "Battle on Buka Street" dominate January. "A Tribe Called Judah" pulled in N419 million, 55.08% of the first week's gross revenue (N762 million) in January 2024, while "BOBS" (N169 million) accounted for 38.73% of the first week gross in January 2023.

2. Top 5 Titles '23 vs. '24: In January 2023, "Battle on Buka Street," "Plane," "Avatar 2," "Ijakunmo," and "Pathaan" stood out. In January 2024, "A Tribe Called Judah," "Aquaman 2," "Malika," "Ada Omo Daddy," and "Mean Girls" took key spots.

3. Black Panther 2 vs. A Tribe Called Judah: "Black Panther 2" hit the 1 billion mark in its 6th week dated January 2023, while "A Tribe Called Judah" hit the 1 billion mark in its 3rd week dated January 2024.

4. Nollywood Titles Flourish: Nollywood titles released in December peaked in sales after the January run.

5. Ticket Sales Comparison: Ticket sales for January 2024 declined by 15.92% compared to January 2023. Week 1 admissions in 2023 were 741,997 compared to 623,855 in 2024.

6. January Data Comparisons: Monthly Revenue - JAN 2023 V 2024

Jan 2023

Wk 1 - 438.63 million

Wk 2 - 207.93 million

Wk 3 - 124.063 million

Wk 4 - 87.607 million

Wk 5 - 84.347 million

Jan 2024

Wk 1 - 762.289 million

Wk 2 - 353.9689 million

Wk 3 - 177.983 million

Wk 4 - 117.194 million

Wk 5 - 118.572 million

JAN 2023

WK1: 30TH DEC - 5TH JAN

WK 5: 27TH JAN - 2ND FEB

JAN 2024

WK 1: 29 DEC - 4TH JAN

WK 5: 26TH JAN - 1ST FEB

7. January 2025 Forecast: Will a Nollywood title pull double-digit week-on-week revenue, or will a Hollywood title take the crown? Consumer demand for December in the past 3 years has been fueled by titles featuring and produced by Funke Akindele. Perhaps a break from her can reveal another box office titan. Distributor execs eyed the 1 billion mark and cleared it in 2024; maybe it’s time to set sights on the 2 billion mark in 2025.

In the first week of January 2023, "Battle On Buka Street" dominated the box office, raking in an impressive N169.88 million despite its three-week run. Similarly, the first week of January 2024 saw "A Tribe Called Judah" dominating the charts in its third week, earning a staggering N419.93 million. Both films are helmed by the talented Funke Akindele, underscoring her prowess as the reigning queen of the box office.

The total box office revenue for the fourth week of January 2023 reached an impressive N87.607 million, while the weekly cinema revenue for the fourth week of January 2024 totaled N117.19 million.

Funke Akindele's films have been highly successful at the Nigerian box office, with "Battle on Buka Street" and "A Tribe Called Judah" dominating January in 2023 and 2024, respectively.

The comparison between the two years shows substantial growth in total box office gross numbers, indicating the industry's strength and increased audience engagement.

Source: Shock

#Nigerian Box Office