The earnings from the 53 cinemas and 133 screens across Nigeria owned by six exhibitors hit $14.4 million as at August this year.
The Managing Director, FilmOne Distribution and Production, Mr. Moses Babatope, said at the Nigerian International Film (NIF) Summit in Lagos on Sunday while reviewing the box office performance of the film industry.
According to him, more than 79 Nollywood titles were released compared to over 50 Hollywood titles within the period.
He listed top 10 Nollywood films released during the period as “The Bling Lagosians’’, “The Set Up’’, “Mokali’’, “Gold Status’’, “Knock Out’’, “Hire a Woman’’, “Coming from Insanity’’, “She is’’, “The ReUnion’’, and “Makate Must Sell’’.
The film industry, he explained, was still losing revenue because of the lack of screens to fully exploit films at weekend and insufficient cinemas.
He noted that 2.5 percent of the recorded earnings were lost in Cinema and 10 percent to file sharing and illegal downloads.
MM/GIK/APA