The stable streak in the last five years.

​Research & Edited By Araba, Olawale Enifenilanfe

The journal, which is Nigeria’s first film business publication, noted that in the last couple of years, Nollywood had managed a market share within the threshold of 40 percent with a large chunk of the remaining 60 percent held by Hollywood.

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In 2021, despite it being a pandemic recovery year, the industry still managed to hold 39.3 percent in the first half of the year selling about 964,523 tickets out of the over 1,491,530 tickets sold.

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Meanwhile, in the first half of 2022, out of the 1,498,934 tickets sold in the first half of 2022, Nollywood sold about 520,656 which is a 46 percent decrease from the previous year.

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Speaking on the data, co-publisher of Inside Nollywood, Anita Eboigbe told NAN that “there are always about 10 Nollywood movies in the cinema, per time.

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While some movies such as ‘Omo Ghetto’ have thousands of admissions, others get only about ten people weekly.

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Tickets range from N1,200 to N5, 000 depending on the buzz around the movie and the performance weekly.

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There have been unicorns of some sort in the two years.

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“In 2021, it was Funke Akindele’s ‘Omo Ghetto’ that defied expectations and earned over N636 million in total gross before making it to a streaming platform.

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In 2022, Femi Adebayo’s ‘King of Thieves, ushered a new movement and made over N300 million in total cinema gross.

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Eboigbe noted that the decline in market share by Nollywood calls for some introspection and stakeholders are constantly debating several possibilities but the over-dependence of filmmakers on streaming has conditioned the audience as well as the laziness of exhibitors in growing the cinema culture. (NAN)