Nigeria is fast becoming the star of Africa’s entertainment and media scene, and recent findings by PricewaterhouseCoopers (PwC) show just how quickly the industry is rising. The report highlights that Nigeria’s entertainment and media market was valued at about US$9 billion in 2023 and is set to reach US$13.6 billion by 2028, making it one of the fastest-growing in Africa and one of the most dynamic in the world.
A major reason for this impressive growth is Nigeria’s youthful population. With a median age of about 18.1 years, the country has a large audience that consumes content daily, from music and movies to games and social media entertainment. The widespread use of smartphones and the rapid rise of mobile internet access mean young people can now stream music, play games, watch videos, and engage with online content more than ever before. This shift to digital platforms has created new opportunities for content creators, advertisers, and entertainment companies.
PwC notes that some of the fastest-growing areas in the industry include internet advertising, video games and esports, online streaming services (OTT), music, radio and podcasts. Internet advertising alone is expected to more than double between 2023 and 2028, as more businesses turn to digital platforms to reach their audiences. This shows a clear move away from traditional media to online content.
Nigeria’s rise is also powered by the global success of its creative talents. Nollywood films, Afrobeats music, comedy skits, and social media creators are gaining international attention. Their success has helped position Nigeria as a strong cultural export hub, attracting foreign interest and investment into the sector.
However, the journey is not without challenges. Issues such as piracy, weak intellectual property protection, high production costs, electricity shortages, and limited modern infrastructure still affect how much creators can earn. There is also the challenge of turning large online audiences into actual financial gains, as many consumers are price-sensitive and hesitant to pay for subscriptions or premium content.
Despite these hurdles, the future remains bright. The industry has huge room for expansion because many areas are still developing, such as gaming, animation, esports, film production technology, and digital distribution channels. With better policies, improved infrastructure, and stronger protection for creative works, Nigeria could unlock even more value from this booming sector.
For creators, investors, and policymakers, PwC’s projections send a clear message: Nigeria is on track to become Africa’s entertainment powerhouse. New digital opportunities are emerging, global platforms are paying attention, and young Nigerians are shaping the future of media consumption. If the country builds on this momentum, the entertainment and media industry could soon become one of Nigeria’s biggest contributors to economic growth, job creation, and global cultural influence.
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