Nigeria has emerged as Africa’s top-performing entertainment and media (E&M) market, recording an impressive 11.2 per cent growth rate in 2024, according to a new report.
The growth is part of a major transformation sweeping across Africa’s entertainment and media industry, driven by rapid technological innovation, shifting audience behaviour and stronger internet connectivity.
The report published on October 22 by the Africa Entertainment and Media Outlook positioned South Africa, Kenya, and Nigeria as the powerhouses driving the continental boom, outpacing global averages.
Nigeria’s position as the fastest-growing market is a direct reflection of its expanding digital economy and its large, youthful, and tech-savvy population.
The report added that these top markets are leveraging digital platforms to scale their reach, engage consumers in new ways, and create sustainable revenue models across music, film, gaming and advertising.
While Nigeria leads in growth speed, South Africa remains the continent’s most established entertainment and media hub, projected to grow at a compound annual growth rate (CAGR) of 3.5%.
The report said Nigeria is expected to maintain its lead with a projected CAGR of 7.2% through 2029. Kenya continues to shine as a global digital leader, boasting the world’s fastest-growing internet advertising market at a remarkable 16% CAGR, while markets like Mauritius are beginning to gain digital traction.
Internet connectivity is also expanding rapidly across South Africa, Kenya and Nigeria, driven by mobile access and the increasing demand for online services. Nigeria alone now has over 107 million internet users.
In South Africa, video accounts for more than 76 per cent of total data usage, underscoring the dominance of visual content in media consumption. By 2027, 5G subscriptions in the country are expected to surpass 3G, accelerating access to high-speed digital experiences.
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