In the latest edition of The Nigerian Box Office Year Book 2018 /2019 compiled by FILMONE, Total Revenue made from the Cinema Business in West African territories of Nigeria, Ghana and Liberia is USD 23,637,698 as at 31-12-18 .
This is an increase from the Total revenue of USD 17,328,195 in 2017 and USD 13,154,006 in 2016 respectively.
It is Projected that by 2020 Total revenue will hit USD 35,692,923 (51%increase) and an exponential revenue growth of USD 70,604,172 by 2030.
Major players in this industry are FilmHouse Cinemas, Silverbird Cinemas, Genesis Cinemas,Ozone,Kada,Viva,Grand etc.
Factors fueling the boom in the Cinema industry are;
1.Increase in Cinema Locations
2.Increase in Film Releases
3.Enabling Business Environment
4.Education and Developments
5.Access to Easy Finance
The above factors clearly expose the business opportunities that aggressive Entrepreneurs can quickly explore and exploit for profit.
In recent times, the Nigeria’s film industry ,has witnessed massive investments in the areas of Production, Distribution, Infrastructure (construction of Theaters, Screens),Technology(4DX ) etc.
The Cinema Business in Nigeria is being regulated by Cinema Exhibitors Association of Nigeria (CEAN).
The Cinema Exhibitors Association of Nigeria (CEAN) is a professional body set up by leading industry stakeholders to oversee & maintain industry standards, and protect the interests of participants and new entrants.
This Industry is positioning itself to be a major player in the West African Economic Landscape.
N.B;You can contact us for your Pan Nigeria and West African In-Cinema Advertising.
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