Friday, 18 September 2015

Nigeria’s entertainment, media to earn $8.1b by 2019 -PwC

Nigeria’s entertainment, media to earn $8.1b by 2019 -PwC
entertainment

Nigeria’s entertainment, media to earn $8.1b by 2019 -PwC

In from Ali Smart …
Nigeria’s entertainment and media market hold a lot of promises as they are expected to gross at least $8.1billion in revenue in 2019, according to a report from PricewaterhouseCoopers (trading as PwC).
The PwC report is titled: ‘Entertainment and media outlook: 2015 – 2019 (South Africa, Nigeria, Kenya)’.
In the view of Vicki Myburgh, entertainment and media leader for PwC Southern Africa, “This year’s outlook shows consumer demand for entertainment and media experiences will continue to grow, while migrating towards video and mobile. “Increasingly, though, it’s clear that consumers see no significant divide between digital and traditional media – what they want is more flexibility, freedom and convenience in when, where and how they interact with their preferred content.
“Consumers are choosing offerings that combine an outstanding and personalised user experience with an intuitive interface and easy access. This includes shared physical experiences like cinema and live concerts, which appear re-energised by digital and social media.”
Read also: Entertainment sector grows GDP by 1.4%
The Outlook presents annual historical data for 2010–2014 and provides annual forecasts for 2015–2019 in 11 entertainment and media segments for South Africa, Nigeria and Kenya which include the Internet, television, filmed entertainment, video games, business-to-business publishing, recorded music, newspaper publishing, magazine publishing, book publishing, out-of-home advertising and radio.
Nigeria’s entertainment and media market grew by 19.3% in 2014 to reach US$4 billion.
By 2019, the market will be more than twice as big, with an estimated total revenue of US$8.1 billion.
As in South Africa, the Internet will be the key driver of growth for Nigeria while Television, comprising revenue from TV advertising and subscriptions would be the other main driver.
Excluding internet access, television, filmed entertainment and video games are the areas where Nigerian