Entertainment 08 May 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 383959 Views
Rate this item
(1 Vote)

You Must Also Like

41871 comments

  • Comment Link seo expert Saturday, 21 December 2024 06:41 posted by seo expert

    I would like to thnkx for the efforts you have put in writing this blog. I am hoping the same high-grade blog post from you in the upcoming as well. In fact your creative writing abilities has inspired me to get my own blog now. Really the blogging is spreading its wings quickly. Your write up is a good example of it.

  • Comment Link seo experts us Saturday, 21 December 2024 06:38 posted by seo experts us

    Does your site have a contact page? I'm having a tough time locating it but, I'd like to send you an email. I've got some suggestions for your blog you might be interested in hearing. Either way, great website and I look forward to seeing it develop over time.

  • Comment Link seo expert Saturday, 21 December 2024 06:36 posted by seo expert

    Nice read, I just passed this onto a colleague who was doing a little research on that. And he actually bought me lunch because I found it for him smile So let me rephrase that: Thanks for lunch! "Not only is the universe stranger than we imagine, it is stranger than we can imagine." by Sir Arthur Eddington.

  • Comment Link seo experts us Saturday, 21 December 2024 06:35 posted by seo experts us

    I’ve been exploring for a little bit for any high-quality articles or blog posts on this kind of area . Exploring in Yahoo I at last stumbled upon this website. Reading this information So i am happy to convey that I've an incredibly good uncanny feeling I discovered exactly what I needed. I most certainly will make sure to don’t forget this site and give it a glance regularly.

  • Comment Link how to get cheap geodon without a prescription Saturday, 21 December 2024 06:35 posted by how to get cheap geodon without a prescription

    can i purchase cheap geodon without insurance

  • Comment Link Nikedom Saturday, 21 December 2024 06:34 posted by Nikedom

    darkmarket list darknet search engine deep web drug links

  • Comment Link antminer configuration Saturday, 21 December 2024 06:29 posted by antminer configuration

    Keep on writing, great job!

  • Comment Link ngentot nungging Saturday, 21 December 2024 06:28 posted by ngentot nungging

    I've been browsing online more than 2 hours today, yet I never found
    any interesting article like yours. It is pretty worth enough for me.
    In my view, if all webmasters and bloggers made good content as you did, the net will be a lot more useful than ever before.

  • Comment Link Sight Care Reviews Consumer Reports Saturday, 21 December 2024 06:06 posted by Sight Care Reviews Consumer Reports

    Today, I went to the beach with my kids. I found a sea shell and gave it to my 4 year old daughter and said
    "You can hear the ocean if you put this to your ear." She
    put the shell to her ear and screamed. There was a
    hermit crab inside and it pinched her ear. She never wants to go
    back! LoL I know this is totally off topic but I had to tell someone!

  • Comment Link Nikedom Saturday, 21 December 2024 06:01 posted by Nikedom

    dark market url darkmarket link dark web search engine

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