Nigerians spent a whopping $15.1 million in cinemas in 2022 despite the tough economic crunch in the country which greatly reduced disposable income for many people.
 
Ajayi who described Nigeria as a country that continues to lead the recovery in Africa, post-COVID-19, on the back of strong local industry, listed the revenue generated by cinemas in the last five years as $10.3 million in 2021, $4.6 million in 2020, $13.9 million in 2019 and $13 million in 2018.
 
More details at:
https://leadership.ng/amid-economic-crunch-nigerians-spend-n6-94bn-in-cinemas-in-2022
​

In a bid to boost funding for Nigerian creatives, the African Development Bank (AfDB), the Islamic Development Bank (IsDB), and the French Development Agency (FDA) have announced plans to invest the sum of $618 million in the Digital and Creative Enterprises Programme (I-DICE) in Nigeria.
 
This was disclosed by the president of the AfDB, Dr Akinwumi Adesina, at the Nigeria International Economic Partnership Forum during the 77th United Nations General Assembly in New York.
 
AfDB added that the fund would support 225 creative start-ups and 451 digital technologies small and medium-sized enterprises, or digital SMEs.
 
More details at:
https://nairametrics.com/2022/09/23/afdb-islamic-development-bank-france-to-invest-618-million-in-nigerian-creatives
​

In 2023, the app-based mobile gaming market in Nigeria is estimated to be worth approximately $126 million. But globally, the revenue from mobile games is expected to reach $164.10 billion before the end of 2022. In Nigeria, the revenue in the mobile games segment is projected to reach $30.91 million in 2022 as it is expected to show an annual growth rate (CAGR 2022-2027) of 8.14 per cent, resulting in a projected market volume of $45.72 million by 2027. In the mobile games segment, the number of users is expected to amount to 104.9 million users by 2027. User penetration is projected to be 33.4 per cent in 2022 and hit 42.8 per cent by 2027. In global comparison, most revenue will be generated in China ($47,220.00 million in 2022). According to estimates from Statista Digital Market Outlook, the average revenue per user (ARPU) in the mobile games segment is projected to amount to $0.43 in 2022, while in the year 2021 a share of 45.7 per cent of users was in the high-income group.
 
The number of mobile gamers increases in proportion with the internet users penetrations. As of January 2022, Nigeria had over 109 million internet users — the highest number reported all over Africa. Egypt ranked second with over 75 million users. The majority of web traffic in leading digital markets in Africa originated from mobile devices — in Nigeria, one of the countries with the largest number of internet users worldwide...
 
More details at:
https://www.newtelegraphng.com/nigerias-mobile-game-revenue-to-hit-n63bn-in-2023
​

The Cinema Exhibitors Association of Nigeria on Tuesday said it generated $885 thousand from tickets sold across cinemas in the country in August.
 
CEAN’s National President, Mr Ope Ajayi, disclosed this in an interview with the News Agency of Nigeria. Ajayi said that the figure represented a 28 percent increase compared to $688 thousand realised in August 2021.
 
“13 Hollywood films accounted for 72.4 percent while 16 Nollywood films made a little over 22 percent. He said the top five highest-grossing films in August were: Thur: Love and Thunder, Bullet Train, Beast, Hey you! and League of Superpets.
 
More details at:
https://punchng.com/nigerias-cinema-records-n378m-revenue-in-august 

National Commissioner/CEO of the Nigeria Data Protection Bureau (NDPB), Dr. Vincent Olatunji, has said that Nigeria generates over $1.7 billion from the gaming industry yearly.
 
He said this at the maiden National Symposium for the Nigeria Gaming Industry organised by Velex Advisory in partnership with the National Lottery Regulatory Commission (NLRC) and NDPB, held in Lagos on Thursday.
 
Olatunji said the gaming industry was becoming a major driver of the country’s economy, providing jobs to thousands of citizens. Quoting research findings, he said the global industry reached nearly $465 billion in 2020, having grown at a compound yearly growth rate of 2.1 per cent since 2015.
 
More details at:
https://guardian.ng/news/nigeria-generates-over-n730b-from-gaming-yearly
​

A Director of Patrons, an art advisory and dealership firm, Keturah Ovio, says Nigeria has the capacity to tap into the $65.1 billion global art market.
 
Ovio said this while answering questions on her upcoming miniature art exhibition titled, ‘small is beautiful’, billed to take place between July 30 and 31 at Cabaret, 32 Musa Yar’Adua, Victoria Island, Lagos.
 
The Art Basel and UBS Global Art Market Report 2022 put the size of the global market at $65.1bn.
 
Ovio said the Nigerian art industry has matured so much that works done by artists in the country are exhibited in various parts of the world, including London, Paris, Rome, New York, Valencia and Berlin, which are often regarded as artistic cities in the world.
 
More details at:
https://punchng.com/nigeria-positioned-to-leverage-65bn-art-market-patrons 

South African-based pay-TV operator MultiChoice Group’s full-year 2022 results showed Nigeria leads the Rest of Africa (RoA) in the percentage of subscription revenue and YoY subscription growth.
 
The result revealed that Nigeria ranked first with YoY subscription growth of 11% and 43% of total subscription revenue in full-year 2022 compared with Kenya, Zambia and Angola.
 
The company said it generated a subscription revenue of ZAR 7.1 billion ($475.5 million) from Nigeria alone representing a 5% increase year on year. It reported subscription revenues of ZAR6.8 billion in the same period last year.
 
More details at:
https://dailytrust.com/multichoice-reports-n196-3-bn-in-subscription-revenue-from-nigeria
​

Amazon Prime Video has named Insight Publicis, an agency based in Nigeria, as its creative agency of record. The company is preparing to launch in Africa’s biggest economy in Q3 2022.
 
According to a statement, this was the latest move in Amazon’s investment in expanding its streaming service, available in more than 240 countries, into Nigeria’s vibrant film scene. The statement said Amazon’s Prime Video had been strategically expanding its Nigerian content offering in the last year. In January, the company struck a multi-year exclusive licensing deal with Anthill Studios, a Lagos-based company behind movies like the Elevator Baby and the Day of Destiny.
 
More details at:
https://punchng.com/amazon-nigerian-firm-partner-on-streaming-services/

The importation of champagne from France into Nigeria jumped by 86 percent last year, nearing the pre-COVID levels, data obtained by BusinessDay show. Experts said the relaxation of COVID-19 pandemic lockdowns and restrictions had led to a recovery of champagne consumption in Nigeria.
 
According to data compiled by Comité Champagne, a trade association that tracks volume and value of exports from France, Nigeria’s champagne import volume increased by 83.8 percent to 559,088 in 2021 from 304,199 in 2020, the lowest volume in seven years…
 
More details through:
https://businessday.ng/business-economy/article/nigerias-champagne-imports-from-france-jump-84/

According to the most recent statistics, Nigerian moviegoers paid more for action films in 2021. According to Insightful cinema, the genre grossed over $5.5 million (N2.3 billion) in Nigerian cinemas in 2021, making it the highest-earning movie genre, with Hollywood accounting for 67 percent (36) of all action movies exhibited.
 
Following one of the most substantial dips in the industry’s history as a result of the COVID-19 pandemic, which saw the total year revenue drop to just N2.1 billion by the end of 2020 from almost N7 billion in 2019, cinema revenue rose to N4.9 billion by the end of 2021, with the action movie genre being the year’s top choice among moviegoers.
 
Box Office giants like Spider-Man: No Way Home( N526 million) which is the movie of the year and the most successful at the box office domestically and globally, ‘Fast and Furious 9’(N233.6 million), and ‘No Time To Die(N190.7 million) was the top three highest-grossing action movies in 2021...
 
More details through:
https://businessday.ng/life-arts/article/nigerians-spent-n2-3-billion-on-action-movies-in-2021/
​