More people are going to the movies every year in Nigeria, despite the economic crisis. In 2022, consumer spending on movies in cinema went up 46.41 percent from 2021 as the Cinema Exhibition of Nigeria (CEAN) reported that it generated N6.94 billion as revenue in 2022 from N4.74 billion in 2021.
This growth in market demand is led by the top movie production companies in Nollywood. Nollywood movies have consistently peaked at the Box Office with Funke Akindele’s ‘Battle on Buka Street recently grossing over N650 million. It also made the filmmaker the highest-earning in the industry. Her previous movie ‘Omo Ghetto: the Saga’ (N636 million), held the record of the top-grossing movie.
The top three movie studios in Nollywood include Filmone Entertainment, Anthill, and Greoh studios, according to Comscore. It’s important to note that some production companies partner to produce a film.
Filmone Entertainment – 12 movies (N714m)
Filmone ranks number 1 on the list of the top movies with the highest local box-office performance of the year at N714 million generated last year. Being one of the major production and distribution firms in Nigeria, they collaborate with other production companies to ensure that a movie’s production and distribution go as seamlessly as possible.
The company produced 12 movies in 2022 Some of which include, Dinner at My Place, The Blood Covenant; Ile Owo; The Order of Things; Passport; Battle on Buka Street; Obara’m; Ijakumo, among others.
Filmone is an independent film entertainment company that distributes and provides a wide range of production facilitation services for premium Nollywood releases across the world. Their distribution network spans cinema, inflight entertainment, streamers, and linear TV networks amongst others.
Anthill Studios – 3 movies (376m)
Anthill Studios is a movie production company owned by Niyi Akinmolayan, a Nigerian filmmaker who directed blockbusters such as The Wedding Party 2“; The Set Up; Prophetess; Day of Destiny; and Elevator Baby. Last year, the production company generated N376 million making it the second biggest production company of 2022.
Anthill was involved in the production of three movies in 2022 which include King Of Thieves; The man of God; and Hey You. King of Thieves which was released in April of 2022 was the most successful of the three films raking over N320 million at the box office.
Anthill inked an exclusive multi-year license deal with Amazon Prime Video, making the global streaming platform the home of Anthill’s slate of films after they have completed their theatrical runs in Nigeria.
Greoh Studios – 1 movie (328m)
Greoh Studios ranks number three on the top 10 list from just one movie released in 2022. With its fictional tale of two brothers whose lives land them on opposing sides of the law, Jade Osiberu’s “Brotherhood” captured the attention of audiences across the nation.
The movie became the highest-grossing Nollywood movie of the year raking in over N320 million at the Box Office. Jade signed a three-year deal with Amazon Prime Video which would see her release her works on the streaming platform. Her future projects like ‘Gangs of Lagos’ are expected to debut on the platform on April 7, 2023.
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Euphoria 360 – 1 movie (N320m)
Euphoria 360, ranks number 4 on the list from just one production, King Of Thieves. The movie was the first non-English title film to gross over N300 million at the Box Office and was enough to put Femi Adebayo’s production company among the most successful in 2022.
In 2022, Adebayo signed a deal with Niyi Akinmolayan of Anthill studios to produce big-budget Yoruba films. The deal would see the studios combine unique strengths such as talent, distribution, marketing, and post-production resources to create several projects that will exhibit on the big screens and other ancillary platforms.
Funke Ayotunde Akindele Network (FAAN) – 1 movie (N291m)
Battle on Buka Street produced by FAAN has so far broken all Nollywood box office records and has now become the highest-grossing Nollywood film. Produced in collaboration with FilmOne Entertainment, the film had its theatrical release on 16 December 2022 and opened to extremely positive reviews from critics.
The film also grossed N26 million at the box office on 25 December 2022 making it the highest-grossing Nigerian film on a single day in the year 2022.
VSL Media – 2 movies (N127m)
Vincent Okonkwo’s VSL Media is ranked at number six with two films, ‘Passport’ by Dimeji Ajibola and ‘The WildFlower (N41.4m) by Biodun Steven with Toyin Abraham as its lead cast.
Released in September of 2022, Passport made N87 million while ‘The WildFlower’ raked over N41.4 million.
Inkblot – 4 movies (N119m)
Inkblots come in at number seven with 4 movies produced in 2022. Theatrical releases such as ‘The Blood Covenant’, ‘Palava’, ‘The Set Up 2’, and ‘The Perfect Arrangement’ all together grossed N119 million at the box office.
This might not be the best of years for the company which has seen better years in the movie business scene with previous releases such as The Wedding Party and its sequel whose box office numbers gross almost N1 billion.
Toyin Abraham Productions – 1 movie (N104m)
Toyin Abraham did not disappoint when her first Christmas holiday release ‘Ijakumo: The Born Again Sripper’ hit theaters across the country. Sharing the holiday period with heavyweights like ‘Battle On Buka Street’ the film ended the year grossing over N104 million and ranking the company eighth on the top 10 production company list of 2022.
The film is still in cinemas at the time of writing this article and has grossed over N278 million at the box office.
Film Trybe – 2 movies (N60m)
Film Trybe Media in partnership with FilmOne released ‘Obara’m’, and the horror drama ‘Ile Owo’. Both movies together under the creative direction of Kayode Kasum, Creative Director of Film Trybe grossed N60 million at the box office. Dare Olaitan who directed ‘Ile Owo’ may not have gotten the reception that other movies had in the year as the horror genre is not popular among Nigerian moviegoers but will be looking forward to thrilling moviegoers with more horror content.
Shutter Speed Projects –1 movie (N34m)
The Biodun Steven’s production company started 2022 with the valentine’s holiday release of the romance comedy drama ‘A Simple Lie’. The movie which starred the likes of Bisola Aiyeola and content skit maker ‘Kikie’ put the company at the number 10 spot on the list grossing over N34 million at the box office.
