One of the top consulting companies worldwide, PricewaterhouseCoopers (PwC) forecasts extraordinary expansion in Nigeria’s Entertainment and Media (E&M) sector, with total income increasing from $7.68 billion in 2021 to $14.82 billion by 2025. This forecast, found in PwCs Perspectives from the Global Entertainment &Media Outlook 20212025 study, emphasizes that internet access is the main factor influencing growth. The internet sector is predicted to generate 85% of the E&M income of the country by 2025.
The report shows that industry revenue has been increasing year after year.
- 2021 $7.68 billion
- 2022 $9.03 billion
- $10.66 billion in 2023
- 2024 $12.56 billion
- 2025 $14.82 billion
Over the period, this indicates a typical yearly increase of 18%.
In 2021, the internet access segment accounted for 78% of Nigeria’s E&M industry revenue—up from 61% in 2016. PwC links this increase to changes in consumer behaviour, particularly throughout the COVID-19 epidemic. Lockdowns and limitations changed how entertainment was created, disseminated, and consumed. CDs and other types of traditional physical media have quickly lost their popularity. Artists and content producers now mostly use online streaming services like iTunes, Audiomack, YouTube, and Bigo.
Nigerian performer
OkobiaThankGodTeekay a Nigerian entertainer, says the epidemic highlighted the need for online channels. How many shows did musicians play during the lockdown? Not many, but they brought in a lot of cash. The internet platform defines the new course. Musicians, comedians, and other performers post stuff on the internet and then urge their fans to stream. He said, “The more fans you have, the more streaming time you get.”
Remote work and stay-at-home policies have helped to increase the appeal of streaming services even further. Consequently, PwC predicts the internet access sector to keep growing its market share, rising from 78% in 2021 to 85% in 2025. From $6.02 billion in 2021 to $12.5 billion in 2025, this means sales expansion.
Particularly Subscription
Video-on-Demand (SVOD), Over-the-Top (OTT) platforms, and Transactional Video-on-Demand (TVOD), Internet-driven services are projected to grow strongly. These services meet the growing need for on-demand, customized content, and their development mirrors the worldwide trend of digital media consumption transformation.
PwCs examines 13 different sectors of the Nigerian E&M economy:
- Books for consumers
- Business-to–business (B2B).
- Conventional television and home video
- OTT video
- Newspaper
- Access to the internet
- Publications for consumers
- Esports and video games
- External-of-home advertising
- Virtual reality (VR)
- Ads on TV
- Music, radio, and podcasts
- Films
Among all these categories, just internet access is predicted to grow its proportion of the overall E&M market between 2021 and 2025. While other sectors might increase in pure numbers, their relative share would drop as entertainment and media consumption relies on digital connection.
To sum up, Nigeria’s E&M sector is transforming digitally as internet access is clearly the powerhouse. This change not only shows that consumers’ tastes are changing but also puts the industry in a position to have a lot of growth driven by technology in the future, like from 2025 and beyond.
