Nigeria remains the fastest-growing Entertainment and Media (E&M) market in Africa – the growth is driven by rapid expansion in internet advertising, video games and esports.
The African E&M sectors in Nigeria, Kenya, and South Africa continue to outperform global benchmarks, displaying resilience in the face of ongoing macroeconomic challenges.
In 2024, Nigeria led the region with a remarkable 11.2percent growth rate, followed by Kenya at 7.1 percent and South Africa at 6.2 percent.
“Looking ahead, the compound annual growth rate (CAGR) through 2029 is projected to be 7.2 percent for Nigeria, 5.2 percent for Kenya and 3.5 percent for South Africa, indicating sustained momentum across all three markets,” according to PWC’s Africa Entertainment and Media Outlook (2025-2029).
Other drivers of the growth in Nigeria’s E&M market include the over-the-top (OTT) streaming, and audio content such as music, radio and podcasts.
“Nigeria’s E&M growth is driven by a predominantly young population and rapid digital innovation that’s reshaping how content is created, consumed and monetised,” said Udochi Muogilim, Technology, Media and Telecommunications Leader, PwC Nigeria.
The global economy is undergoing significant transformation, unlocking great value across all industries. The E&M sector remains a key player in this shift, positioned at the intersection of technological convergence and evolving consumer behaviour.
This year’s analysis highlights several critical themes shaping the future of the industry.
According to the report, mobile internet and video streaming are expected to lead growth, fuelled by cheaper data plans and smartphone penetration.
“Gaming and social media advertising are also gaining traction, especially among gen z and millennial audiences. While infrastructure remains a challenge, the pace of digital innovation is outpacing the obstacles.
“This rapid expansion is underpinned by the country’s population size, the largest in Africa, and an exceptionally young median age that fuels demand for digital content across all sectors,” PwC report stated.
The report noted that traditional media, like print media, continue to decline due to the ongoing migration to digital formats, with newspapers and magazines seeing a consistent drop in circulation and advertising revenue.
Read also: Nigeria’s entertainment revenue jumps 11.2% in 2024, driven by music, e-sports
“Similarly, terrestrial TV and radio are showing slower growth as audiences, especially younger ones, transition to online and satellite alternatives, although these traditional media sources still hold relevance in rural and underserved regions.
“Infrastructure challenges remain, particularly in rural areas, but ongoing investment in fibre rollout and 5G deployment is expected to improve connectivity and unlock new digital experiences”, according to the report which provides a compass for entertainment and media (E&M) leaders as they navigate the coming years.
Digital demand reshapes the market…
A key driver of Africa’s E&M growth is the rapid expansion of internet advertising, particularly in Nigeria and Kenya, where mobile-first internet usage is accelerating.
Kenya stands out globally, with its internet advertising market projected to grow at a Compound Annual Growth Rate (CAGR) of 16 percent—the fastest globally. OTT services are growing at a CAGR of 6.7 percent in South Africa, 8 percent in Nigeria and 11.2 percent in Kenya, reflecting strong consumer demand for digital content.
GenAI is emerging as a transformative force in the E&M industry, enhancing content creation, recommendation engines and customer engagement.
Nigeria, with its youthful and tech-savvy population, is particularly well-positioned to harness GenAI’s potential. Live entertainment is also rebounding, with live music revenues surpassing pre-pandemic levels and esports gaining momentum across the region.
‘ The preceding article may include information circulated by third parties ’
‘ Some details of this article were extracted from the following source businessday.ng ’
