The Cinema Exhibitors Association of Nigeria (CEAN) reported a decline in box office sales for May 2023, generating N514.7 million from 197,242 ticket sales, a decrease of N52 million and 23,539 patrons compared to April’s N566 million and 220,781 tickets.
CEAN National Chairman Opeyemi Ajayi attributed the drop to naira scarcity, cash crunch, poor network service affecting POS operators, and limited movie releases during the presidential and national assembly elections.
Impact of Naira Scarcity and Elections
The report highlighted multiple factors contributing to the decline. The cash crunch and POS failures disrupted transactions nationwide, impacting cinema attendance.
Additionally, the election period led to a lost weekend of sales, as public focus shifted to voting. Ajayi noted that many movie producers and distributors avoided releasing films during this period, resulting in limited content availability.
Earlier Sales Drop
Nairametrics previously reported a significant sales decline in February 2023, with box office revenue falling to N278 million from N819 million in January, and gross admissions dropping to 122,295. Operators cited similar challenges, including cash shortages and election-related disruptions.
Optimism for Recovery
Despite the downturn, Ajayi expressed confidence in a rebound, stating, “Cinema lovers can look forward to memorable times this June as there would be first-rate films.” The anticipated release of new films is expected to boost revenue and attract more patrons.
