Business & Finance

Cinema Culture in Nigeria

Nollywood has an annual revenue of $500 million to $1 billion. That’s less than what a single movie can make in the US alone. I guess its not surprising given that there are over 40,000 cinema screens in the USA and over 100 in Nigeria. I always thought we should focus on increasing the number of screens with stand-alone cinemas – not necessarily in expensive malls, but small standalone cinemas with just ticketing space, snacks stand (we can even sell Nigerian goodies like plantain chips and chin chin instead of just pop corn) and movie theatre – that’s all!

In any case, I agree with the conclusion that the pandemic won’t end the cinema culture. Worst-case scenario, the halls will take less people to comply with social distancing. I see recent experiments with drive in cinemas but I’m not sure how many people would be willing to run their engines for a 2-hour movie given how hot our environment is. No harm trying though.
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Babatunde Akin-Moses

I am currently CEO and co-founder of Sycamore, a peer to peer lending platform that connects lenders to borrowers using technology. I love to write about business, economy, policy, startups, inspiration and entertainment. I am also deeply passionate about making Nigeria and Africa as a whole, a much better place to thrive and prosper for all.

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