Giant film exhibition company, Filmhouse Cinemas Limited, has released the current net worth of some of its blockbusters.
Wedding Party is currently the most profitable film in Nigeria’s cinematic experience, trumping Ayo “AY” Makun’s A Trip to Jamaica’s records in the box office, says Filmhouse.
Speaking during a strategic visit of some curators from Silicon Valley to Nigeria during the week, the Group Managing Director, Filmhouse, Mr Kene Mkparu, analysed the investment prospects of the Nigerian movie industry.
Speaking, he said the Nigeria movie industry, otherwise known as Nollywood, is expected to net in the sum of N2billion by the end of the year.
Films such as A Trip to Jamaica,76, Wedding Party, he said, had contributed to the growth of the cinema experience in the country.
He said Wedding Party has raked in over N452 million since its release in December 2016, becoming the most lucrative film in Nigeria.
“The film that has sold the most in Nigeria is Wedding Party. Wedding Party has netted in the sum of N452m for a N100m investment. It was trending on a 110 per cent return on investment. This is just from less than 30 cinemas and few ancillary sales,” he said.
“We think that by the end of this year, the earning derived from Nollywood films will be close to N2billion. This is a great growth,” he added.
Supporting his claim, Mpkaru also revealed that some more blockbusters are expected to line-up in the Nigerian box office before the end of the year.
He said, “Some of the big blockbusters we are expecting in Nollywood on the cinema before the end of the year are the Wedding Party 2, which will be released in December 2017; 10 Days in SunCity, by AY, Father Christmas, another AY film, Isoken, My Wife and I, Banana Island Girls and Husband for sale”.
He also spoke about the launch of a VOD platform, a channel that will allow the purchase, download and viewing of movies on smartphone. He said the launch would open widows of opportunities for investors, movie makers and movie buffs.
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