Entertainment 08 أيار 2022

Our Entertainment is the best in the World

Nigeria’s media and entertainment industry, “Nollywood,” originated in 1992. It is currently the second most prolific film industry in the world. It is a globally recognized brand for

practitioners in film, including script writing, directing, sound, acting, cinematography, make-up, and editing. The industry is located throughout several major production centers like Lagos, Onitsha, Enugu, Asaba, and Abuja.  Nollywood was valued at $3.6 billion in 2016 and is projected to be worth $6.4 billion by 2021. The music sector also recorded significant growth over the years. 

According to PwC Global Entertainment and Media Outlook for 2020-2024, Nigeria’s media and entertainment industry is one of the fastest growing creative industries in the world.  It has the potential to become the country’s greatest export, with projected annual growth rate of 8.6% and a compound annual growth rate (CAGR) of 19.3% from 2018-2023. PwC indicates that in 2021, Nigeria’s film industry contributed 2.3% and about 239 billion naira ($660 million) to GDP and projects that the industry will increase its export revenue earnings to over $1 billion. The motion picture and music recording industry exceeded 2020 projected $806 million revenue contributing about 730 billion naira ($1.8 billion) to the country’s GDP.

The country’s television and video market grew by 7.49% to $806 million in 2020, up from $732 million in 2018. The industry is projected to earn about $900 million in 2023. The market is driven by subscription revenue, which accounted for 72.26% of total revenue in 2018. TV advertising accounts for 21.31% of total revenue while physical home videos account for 5.33%. Subscription-based movie streaming are also very popular in Nigeria attracting players like Netflix, Iroko TV, and Startimes.  Although Netflix subscription has long been available in Nigeria, they made their official debut in Nigeria in February 2020, joining several major distributors of filmed content in Nigeria.

Read 398438 Views
Rate this item
(1 Vote)

You Must Also Like

43598 comments

  • Comment Link онлайн казино на реальные деньги الجمعة, 24 أيار 2024 17:54 posted by онлайн казино на реальные деньги

    Европейская рулетка — это простая
    игра, с которой можно начать,
    просто ставя на числа, на
    которые, как вы надеетесь, попадет мяч.

  • Comment Link https://appdatawebdata.site الجمعة, 24 أيار 2024 17:38 posted by https://appdatawebdata.site

    With havin so much written content do you ever run into any problems of plagorism or copyright infringement?

    My site has a lot of completely unique content I've either written myself or outsourced but it appears
    a lot of it is popping it up all over the web without my permission. Do you know any techniques to help reduce content from being stolen? I'd genuinely appreciate it.

  • Comment Link Brooks الجمعة, 24 أيار 2024 17:27 posted by Brooks

    More that that, gemstones are these days also included in wedding ceremony bands designs, so they
    can match the rings.

  • Comment Link https://datatechcode.site الجمعة, 24 أيار 2024 17:23 posted by https://datatechcode.site

    Hello there! I simply want to offer you a huge thumbs up for your great information you have right here on this post.

    I'll be coming back to your blog for more soon.

  • Comment Link otuslot الجمعة, 24 أيار 2024 17:18 posted by otuslot

    I was very happy to find this website. I wanted to thank you
    for your time due to this wonderful read!! I definitely loved every part of it and i also have you
    book marked to check out new information on your web site.

  • Comment Link prostadine الجمعة, 24 أيار 2024 17:14 posted by prostadine

    I have been exploring for a little bit for any high quality
    articles or weblog posts in this kind of house . Exploring in Yahoo I at last stumbled upon this website.
    Reading this info So i am glad to exhibit that I have an incredibly good uncanny feeling I
    discovered exactly what I needed. I so much without a doubt will make sure to do not disregard this web site and
    give it a glance on a relentless basis.

  • Comment Link https://appsmartnet.site الجمعة, 24 أيار 2024 17:02 posted by https://appsmartnet.site

    Thank you for sharing your info. I really appreciate your efforts and I am waiting for
    your further write ups thank you once again.

  • Comment Link memek becek الجمعة, 24 أيار 2024 16:59 posted by memek becek

    Hello there, You have done an excellent job. I will certainly digg it and personally suggest to my friends.
    I am sure they'll be benefited from this
    web site.

  • Comment Link bocoran admin slot agus الجمعة, 24 أيار 2024 16:58 posted by bocoran admin slot agus

    Hey this is kinda of off topic but I was wondering if blogs use
    WYSIWYG editors or if you have to manually code with HTML.
    I'm starting a blog soon but have no coding know-how
    so I wanted to get guidance from someone with experience.
    Any help would be enormously appreciated!

  • Comment Link who can apply e visa for turkey الجمعة, 24 أيار 2024 16:47 posted by who can apply e visa for turkey

    My brother recommended I might like this website. He was totally right.
    This post truly made my day. You can not believe just how a lot time I had spent for this info!
    Thanks!

Leave a comment

Make sure you enter all the required information, indicated by an asterisk (*). HTML code is not allowed.

Newsletter Subscribe

Allows the customer to subscribe to the mailing list of your choice