Nigeria’s entertainment and media (E&M) industry is on an unstoppable rise, with new projections placing its growth at an impressive 8.6% compound annual growth rate (CAGR) through 2028.
The country’s E&M industry remains the fastest-growing in the world. This rapid expansion cements Nigeria’s position as Africa’s leading entertainment powerhouse, outpacing South Africa and Kenya in growth.
A new report by PwC explains the major catalysts behind this surge—Nigeria’s booming youth population, increasing broadband penetration, and a rapidly evolving digital economy.
With a median age of just 18.1 years, the country boasts a predominantly young and tech-savvy demographic that is fueling demand for digital entertainment like never before.
The Next Big Moneymakers: Internet Ads, Gaming & OTT
According to the report, the fastest-growing segments within Nigeria’s E&M industry over the next five years will include:
Internet Advertising: Expected to more than double by 2028, driven by the ambitious broadband expansion plan aiming to provide 90% coverage by the end of 2025. Brands are set to pump billions into digital marketing as internet access becomes more widespread.
Video Games & Esports: Gaming is no longer just a pastime; it’s a billion-dollar industry in the making. The country’s youthful population, combined with better internet access and mobile gaming innovations, is pushing the sector to new heights.
Over-the-Top (OTT) Streaming: With Nollywood producing over 2,500 films annually and global players like Netflix and Amazon Prime increasing their focus on local content, the demand for streaming services is skyrocketing.
Music, Radio & Podcasts: Nigeria’s music industry is already making waves globally, and with Afrobeats taking centre stage worldwide, investments in digital streaming and podcasting will only continue to grow.
Nigeria is ready for the Digital Age
Udochi Muogilim, PwC Nigeria’s Technology, Media, and Telecommunications Leader, highlights the transformative impact of digital innovations in shaping the industry’s future:
“With a youthful population eager to embrace innovation, Nigeria’s entertainment and media industry can harness the power of AI to capitalize on this disruptive force, unlocking new opportunities for growth and development.”
As the nation continues to cement its status as Africa’s entertainment capital, all eyes are on the next wave of digital disruption that will redefine the industry.
Whether it’s gaming, advertising, streaming, or music, one thing is clear—Nigeria’s entertainment scene is on a trajectory to global dominance.
