Nigeria Media Market Size and Forecast by Media Channel, Content Type, Revenue Model, Consumer Type, and Device Type: 2019-2033

Nigeria Media Market Outlook

A High-Growth Frontier Amidst Digital Acceleration

The Nigeria media market is fast emerging as one of Africa’s most dynamic media landscapes, propelled by population growth, rapid digitalization, and mobile-first content strategies. As of 2024, the Nigeria media industry is estimated at US$ XX.3 billion and is projected to cross US$ XX.1 billion by 2033, growing at a robust CAGR of XX.5% between 2025 and 2033, as per adjusted data from DataCube Research. The Nigeria media sector encompasses an evolving mix of traditional broadcasting, print, digital media, OTT platforms, and audio streaming, with digital formats expected to account for over 60% of the total market by 2033.

The Nigeria media ecosystem is inherently youthful, mobile-driven, and socially engaged. While traditional television and radio still hold strong in rural regions, urban centers like Lagos, Abuja, and Port Harcourt are witnessing a surge in OTT video consumption and social media content creation. Indigenous content, localized formats, and on-demand video are key competitive differentiators in this diverse and linguistically rich market. Furthermore, increased smartphone penetration, the rise of Nollywood productions, and the shift from analog to digital broadcasting are transforming how Nigerians consume content.

Internet, Innovation & Institutional Support Fuel Market Growth

A foundational driver of the Nigeria media market’s momentum is its expanding internet penetration, which reached 55% by the end of 2023, with over 122 million active internet users, according to the Nigerian Communications Commission (NCC). Affordable smartphones and increasing availability of smart TVs have enabled a new generation of consumers to access digital content on-the-go. Platforms such as YouTube, Netflix, and local players like IrokoTV and Showmax have witnessed massive adoption among youth and middle-income users, reflecting the trend toward convenience-based media consumption.

Regulatory reforms are reinforcing this growth. The National Broadcasting Commission (NBC) has spearheaded the Digital Switch Over (DSO) program to migrate from analog to digital terrestrial broadcasting, improving access and content diversity across the country. Additionally, the Nigerian government has prioritized the creative economy under its National Development Plan 2021–2025, allocating funding for tech-enabled media startups and export-focused content development. These moves aim to formalize the industry, ensure content quality, and boost the export potential of Nigeria’s cultural output, particularly Nollywood.

Economic Underpinnings: Rising Incomes, Growing Exports & Ad Spend Surge

Economically, Nigeria is experiencing a revival driven by its digital economy and creative sector. As of 2024, GDP per capita is estimated at US$ 2,450, while household disposable income is on a steady upward trajectory due to a growing middle class and increased fintech adoption. Despite inflationary pressures, consumer spending on digital entertainment is resilient, especially among Gen Z and millennials. Advertisement spending as a percentage of GDP currently stands at 0.7% and is expected to rise to 0.95% by 2030, with digital advertising accounting for more than 40% of that share.

Media exports are gaining global attention, particularly through Nollywood films, Afrobeats music, and social media influencers who have global audiences. Nigeria now ranks among the world’s top content creators on platforms like TikTok and Instagram. The exportability of Nigerian culture is not just symbolic—it is commercial, creating new licensing, streaming, and syndication opportunities for the country’s media producers. Importantly, this export trend is building a revenue bridge to global markets and reducing reliance on imported content.

Understanding the Nigerian Viewer: Mobile-First and Content-Centric

End user behavior in Nigeria reflects a clear shift towards mobile-first engagement. On average, Nigerians spend about 6.8 hours daily consuming media, split between video, music, social media, and digital news. Streaming platforms have become the new prime time, particularly among the under-35 demographic, which makes up over 60% of Nigeria’s total population. OTT subscription penetration stands at 18% in 2024, with strong room for growth as mobile data becomes more affordable and content localization improves.

Consumer preference is highly segmented. While premium OTT services have found traction among urban dwellers, price sensitivity dominates semi-urban and rural markets, creating space for freemium models, ad-supported content, and offline viewing options. Monthly digital entertainment spending ranges between US$ 4–10 depending on geography and access, with younger users prioritizing local dramas, music videos, and sports content. Additionally, the emergence of short-form platforms and podcasts is shaping a new layer of content personalization.

Strategic Moves: Local and Global Players Battle for Eyeballs

Nigeria hosts a competitive mix of local champions and international media platforms, all vying for dominance in this high-potential market. Among local broadcasters, Africa Independent Television (AIT), Channels TV, and TVC News maintain high viewership across traditional channels. In digital, Showmax, IrokoTV, and Accelerate TV have gained popularity for their original African content and mobile-friendly streaming formats.

In terms of development, Netflix has increased its investment in original Nigerian productions since 2022, including Blood Sisters and Shanty Town, which topped streaming charts in West Africa. In 2024, Prime Video announced a strategic partnership with Anthill Studios to co-produce ten Nigerian series tailored for both domestic and global audiences, reinforcing the rising demand for Afro-centric narratives.

Partnerships are becoming a core strategy. MTN Nigeria’s collaboration with IrokoTV to offer affordable OTT bundles through its mobile network exemplifies telco-media convergence. Likewise, Airtel’s alliance with Showmax for data-included subscriptions shows the ecosystem’s movement toward bundled offerings and micro-payments, particularly among youth and first-time streamers.

Promotional strategies are increasingly driven by influencer-led campaigns, vernacular branding, and episodic content designed for social sharing. The fusion of entertainment with ecommerce, especially via live streaming and shoppable content, marks a new monetization pathway in Nigeria’s digital media future.

Author: Joseph Gomes Y (Head – Media and Entertainment)

*Research Methodology: This report is based on DataCube’s proprietary 3-stage forecasting model, combining primary research, secondary data triangulation, and expert validation. [Learn more]

Nigeria Media Market Segmentation