Easter movies fail at box office

CAIRO- 22 April 2017: The 11 Egyptian movies, which were released in this year’s Easter season, have grossed less than EGP 4 million in one week, marking a significant drop in revenues in domestic box office compared to EGP 30 million in 2016, according to the Cinema Industry Chamber.

Most movies that are currently screening in cinemas lie in the comedy category, such as “Bank el-Haz” which garnered EGP 2.5 million, "Yegaalo Amer" which earned around EGP1 million, “Ala Wadaak” and “Mesh Rayheen fi Dahya” which gained EGP 291,600 and EGP EGP151,600 respectively.

Palm Sunday attacks are believed to be one main reason why Egyptians shied away from going to movie theatres this season.

On 9 April, attacks on two Coptic churches in Tanta and Alexandria had left at least 45 people dead.

The Cinema Industry Chamber is also suffering from movie piracy, which has significantly increased, affecting movies’ revenues. Some people would prefer watching the movie on the internet, rather than paying EGP 60 in movie theaters.

Egyptian families have struggled to adjust with soaring prices since a decision by the Central Bank to float the Egyptian pound in November last year, causing the local currency to lose 50 percent of its value against the dollar.

Egypt's annual headline inflation rose to 32.5 percent in March, up 0.8 percent from February.

The upcoming feast season in June is expected to garner more revenues with the release of movies starring box office stars Mohamed Ramadan and Ahmed el-Saka.