Nigeria’s entertainment and media industry is in for a major lift. According to the new PwC Africa Entertainment and Media Outlook (2025–2029), the sector could be worth $5.8 billion by 2029, powered largely by digital expansion, mobile internet use, and a youthful population driving consumption.

The report shows that Nigeria posted an 11.2 percent growth rate in 2024, outperforming every other African market ahead of Kenya’s 7.1 percent and South Africa’s 6.2 percent. In 2020, the country’s total industry revenue stood at US$2.5 billion; by 2024, it had grown to $4.1 billion. PwC projects that momentum to continue, with a compound annual growth rate (CAGR) of about 7.2 percent through 2029.

Much of that growth is digital. Mobile and fixed internet services remain the backbone of Nigeria’s entertainment economy, accounting for over 80 percent of total spending. PwC forecasts that internet-driven revenue will rise from $3.3 billion in 2024 to $4.7 billion in 2029, supported by higher smartphone penetration and cheaper data costs.

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The transformation cuts across several segments, including: 

• Internet advertising is expected to nearly double, from US$246 million to $438 million.

• Music, radio, and podcasts will climb from US$67 million to $85 million.

• Gaming and esports are projected to jump from US$194 million to $260 million, overtaking traditional television by 2028, a year earlier than the global average.

• OTT video streaming (including platforms like Netflix, Showmax, and YouTube) will expand from US$29 million to US$43 million.

PwC analysts say the shift reflects how Nigerians increasingly consume entertainment on-demand, on mobile, and on social platforms. The report also points to generative AI as a game-changer, reshaping content production, personalisation, and audience engagement.

“Generative AI is emerging as a transformative force in the entertainment and media industry,” PwC noted. “It is enhancing content creation, recommendation engines, and customer engagement.”

The report highlights that advertising remains the largest revenue driver, both globally and locally. In Nigeria, digital ads are projected to make up 84 percent of total ad spend by 2029, mirroring global trends.

Meanwhile, live events and concerts, once hit by the pandemic, have bounced back, surpassing pre-2020 revenue levels as Nigerian artists continue to dominate stages across Africa and beyond.

Nigeria’s entertainment industry is not just growing; it is shifting powerfully toward digital and interactive experiences, with AI, gaming, and internet connectivity leading the charge.

Cynthia Nwanonyiri