The Cinema Exhibitors Association of Nigeria (CEAN) has, in its latest publication, revealed that Nigerians spent a total of N449,942,977 to watch movies in the month of November.
Why this is shocking is because despite economic challenges, entertainment -like fashion still has its head high, cashing out from millions of Nigerians.
While the festive season is gradually coming upon us, it can only be imagined how much more millions will go down on movies as the period is characterised with free hours and vacation from work for most government workers, private sector employees and employers alike.
Last year December, CEAN pegged N600m as the amount spent by Nigerians on movies.
This, however, might not be the true figure all together as movies in cinemas goes with other logistics. This might include cost of popcorn, soft drinks and even transportation fares.
The movie industry is apparently booming and investors will, no doubt, smile more to the bank this season.
With superfluous and tectonic cinema houses in Lagos, Kano, Port Harcourt, Abuja etc., and more under construction; it is, therefore, not surprising that Nigeria has the largest West Africa cinema chains.
Latest posts by Ridwan Adelaja (see all)
- From auxiliary service provider to subsidiary; Nigeria’s Paga eventually takes over Ethiopia’s Apposit - January 24, 2020
- Whatsapp introduces dark mode. Here is why it might be another way to dig Telegram’s grave - January 23, 2020
- American startup accelerator announces new $15m fund for African Fintech. Nigeria’s Cowrywise makes list - January 22, 2020