According to experts Nigeria’s entertainment and media market by 2019, will generate an estimated total revenue of US$8.1 billion. The Internet will be the key driver of growth for Nigeria. Television, comprising revenue from TV advertising and subscriptions, is the other main driver.
Excluding Internet access, television, filmed entertainment and video games are the areas where Nigerian consumers are expected to spend the most over the next five years.
Consumer spend on video games and music is set to see the sharpest rise in forecast CAGRs at 14.3% and 11.4%, respectively. Piracy continues to remain a problem in Nigeria, limiting growth across several entertainment and media sectors.
The opportunities that these numbers present are mouth watering. Are you ready or positioned to take part in this development. Are your services and products geared towards innovation and fresh ideas that can tap into the new vista’s of entertainment and media?