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Nigeria’s entertainment and media industry grew by 11.2 percent in 2024, powered largely by rapid expansion in the music and e-sports sectors. The country has now cemented its position as Africa’s fastest-growing market in the industry.
According to PwC’s Africa Entertainment and Media Outlook (2025–2029), Nigeria’s total entertainment revenue rose to $4.1 billion in 2024, up from $3.7 billion in 2023. This growth was driven by digital expansion across podcasts, streaming, and gaming — boosted by the nation’s large youth population and increasing internet access.
Mobile and fixed services remained the largest segment, generating $3.3 billion in 2024, up from $2 billion in 2020. PwC projects it will hit $4.7 billion by 2029, representing a 7.2 percent compound annual growth rate (CAGR).
Traditional TV followed, growing from $178 million in 2020 to $209 million in 2024, with projections of $246 million by 2029 (3.3 percent CAGR).
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Internet advertising recorded one of the strongest gains, rising from $79 million in 2020 to $246 million in 2024, and is forecast to reach $438 million by 2029, reflecting a 12.3 percent CAGR.
The video games and e-sports segment expanded from $55 million in 2020 to $180 million in 2024, and is projected to reach $260 million by 2029, with a 7.6 percent CAGR.
Music, radio, and podcasts revenue climbed from $24 million in 2020 to $59 million in 2024, and is expected to hit $85 million by 2029 (7.5 percent CAGR).
OTT video — driven by streaming platforms — grew from $8 million in 2020 to $29 million in 2024, and is forecast at $43 million in 2029, representing an 8 percent CAGR.
Print media (newspapers, consumer magazines, and books) saw slower growth, moving from $46 million in 2020 to $50 million in 2024, and is expected to reach $53 million by 2029 (1.2 percent CAGR).
Out-of-home advertising increased from $24 million in 2020 to $37 million in 2024, and could hit $42 million in 2029 (2.5 percent CAGR).
Business-to-business revenue rose slightly from $2.6 million in 2020 to $3.8 million in 2024, and is forecast to stabilize at $4 million by 2029 (1.3 percent CAGR).
Overall, Nigeria’s total entertainment and media market expanded from $2.5 billion in 2020 to $4.1 billion in 2024, and is projected to reach $5.8 billion by 2029, representing a 7.2 percent CAGR.
PwC identifies internet advertising, gaming, OTT streaming, and digital audio as the leading growth drivers. The report notes that mobile internet and video streaming are thriving, supported by falling data costs and rising smartphone adoption.
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Despite persistent infrastructure challenges, Nigeria continues to advance through digital innovation, while traditional print media steadily declines as audiences shift online. Investments in fiber-optic networks and 5G connectivity are expected to unlock more opportunities in local content creation, influencer marketing, and immersive technologies.
South Africa remains Africa’s largest entertainment market, generating $14.6 billion in 2024, up from $13.7 billion in 2023, with a projected 3.5 percent CAGR.
Kenya followed with $4 billion in 2024, up from $3.7 billion in 2023, and is expected to reach $5.15 billion by 2029 (5.2 percent CAGR).
Nigeria, however, leads in growth rate, highlighting its emerging dominance in Africa’s digital entertainment landscape.
Internet penetration continues to rise across the continent. Nigeria recorded 107 million users (45.4 percent penetration) in 2024; South Africa surpassed 50 million users (78.9 percent penetration), while Kenya recorded 48 percent mobile penetration.
Data consumption in Nigeria is projected to triple by 2029, with a 25.4 percent CAGR, reaching 58.2k petabytes. Although fixed broadband remains limited, mobile data usage is expanding rapidly.
Live Entertainment and Gaming
South Africa led in live music ticket sales and gaming revenue, with $76 million and $296 million respectively in 2024. Nigeria trailed with $1 million in live music ticket sales and $176 million in gaming, underscoring significant room for future growth.
Nigeria’s entertainment industry is entering a new digital era — where music, gaming, and online content are shaping a billion-dollar market and putting the country firmly on Africa’s entertainment map.
