According to data compiled early last year, Nigerian cinema earned a total of ₦4. 6 billion, representing a growth from the ₦3 billion achieved in the other years in 2023. This growth has been confirmed by an increase of thirty-four percent in the gross box office receipts.
The total gross income made from Nollywood and Hollywood movies shared approximately the same amount where Nollywood made ₦2,325,930,952 while Hollywood earned ₦2,321,273,174. This parity is a positive signal for the domestic film market, indicating that Nollywood has begun to stake its claim in this market.
The movie attendance did not change from the previous year and stood at 1,199,661, with citizens preferring Nollywood to Hollywood. Hoping to deliver the much-needed boost for the second half of the year, several big films from both industries are lined up for release in August.
The predictions for the Nigerian market therefore show that as the industry matures, Nollywood could actually surpass Hollywood by 2025 at the box office.
The presence of such a trend proves the growth of the demand and the improvement of Nigerian films.
