Showbiz
Nigeria’s Showbiz/Media Sector Will Generate $9.9b Revenue by 2022—PwC
By Modupe Gbadeyanka
A new report by PwC has disclosed that the entertainment and media (E&M) industry in Nigeria will generate a revenue of $9.9 billion by 2022 from the $3.8 billion raked in 2017.
In its ‘Entertainment and Media Outlook: 2018 – 2022: An African Perspective’ released today and obtained by Business Post, PwC said last year, Nigeria saw a huge 25.5 percent rise in E&M revenue, although $605 million of this $764 million rise was attributable to Internet access.
“A 21.5 percent CAGR rate is anticipated to 2022, with revenue reaching $9.9 billion in that year. Again, Internet access revenue will account for 89.6 percent of this absolute growth,” the report said.
PwC noted that in report that Africa’s entertainment and media industry has entered a dynamic new phase, a third wave of convergence.
It said the borders that once separated E&M, technology and telecommunications industries are blurring in the battle for the attention of the consumer in a world that is rapidly digitising.
As the mobile device cements itself as the pre-eminent source of the E&M experience, the most disruptive, forward-thinking companies are striving to create an integrated ecosystem suited to this consumer-driven dynamic, it said further.
According to PwC, by 2022, total E&M revenue in South Africa is expected to reach R177.2 billion, up from R129.2 billion in 2017. Internet (access and advertising) is expected to grow at a compound annual growth rate (CAGR) of 11.3 percent over the forecast period to reach R91.2 billion, up from R53.4 billion in 2017.
Overall E&M growth will be less reliant on Internet access revenue as organic growth opportunities in Internet connections start fading towards the end of the forecast period. Internet advertising will greatly exceed TV advertising in terms of growth, leading the way with a 13 percent CAGR over the forecast period to reach R9.4 billion and overtake TV advertising spend in 2022.
The Outlook is a comprehensive source of analyses and five-year forecasts of consumer and advertising spending across five countries (South Africa, Nigeria, Kenya, Ghana and Tanzania) and 14 segments: Internet, data consumption, television, cinema, video games, e-sports, virtual reality, newspaper publishing, magazine publishing, book publishing, business-to-business (b2b), music, out-of-home (OOH) and radio.
Vicki Myburgh, Entertainment and Media Leader for PwC Southern Africa, says: “It’s clear we’re in a rapidly evolving media ecosystem that’s experiencing Convergence 3.0. In Convergence 3.0, the dynamics of competition are evolving while a cohort of ever-expanding super competitors and more focussed players strive to build relevance at the right scale. And business models are being reinvented so all players can tap into new revenue streams, by, for example, targeting fans and connecting more effectively with customers to develop a membership mind-set.
“The pace of change isn’t going to let up anytime soon. New and emerging technologies such as artificial intelligence and augmented reality will continue to redefine the battleground. In an era when faith in many industries is at a historically low ebb and regulators are targeting media businesses’ use of data, the ability to build and sustain consumer trust is becoming a vital differentiator.”
South Africa’s E&M industry faced a challenging year in 2017 amidst economic and socio-political uncertainty. Total E&M revenue rose at a comparatively low rate of 6.8% year-on-year to R129.2 billion. A bounce-back in 2018 sees an anticipated 7.6% year-on-year growth, while the CAGR to 2022 is forecast at 6.5 percent.
South Africa will see a strong CAGR of 7.6 percent for consumer revenue to 2022, moving from R93.9 billion in 2017 to R135.7 billion in 2022. Beyond revenue from the Internet segment (buoyed by apps revenue) there are many success stories, most notably that of video games, which will surpass books, magazines and B2B to become the third-highest contributing consumer segment.
There is a striking difference in growth between digital and non-digital revenue, which have CAGRs of 11.4 percent and 1.8 percent respectively. Put another way, digital revenue will add R41.3 billion and non-digital revenue R6.7 billion in absolute terms to 2022. The non-digital elements of five different segments – books, magazines, newspapers, OOH and video games – will all decline to 2022.
Within this overall increase, the fastest revenue growth will be in the digitally driven segments. Virtual reality will lead the way, albeit from a low base, at a five-year CAGR of 55 percent to reach R671 billion in 2022, from R75 billion in 2017.
“The exceptional growth in VR reflects the excitement in this space. VR devices and experiences are in the early stages of being accepted by the mainstream, as VR now emerges as a viable long-term platform for unique, immersive experiences, attracting major investment from media and technology companies eager to seize a share of this fast-growing market,” Myburgh adds.
After a breakthrough year, South Africa’s total e-sports revenue is forecast to rise from R29 million in 2017 to R104 million in 2022, a CAGR of 29 percent. A host of high profile events in 2017 helped to propel e-sport further towards the mainstream, and a number of similar events have been and are being held this year.
A booming social/casual sector is driving strong growth in the video games segment. Total revenue is forecast to rise from R3.1 billion in 2017 to R6.2 billion in 2022, a CAGR of 15 percent. TV and video will continue to be a major driver of consumer spend. Following growth at 4.8 percent CAGR over the forecast period, the total TV market will be worth R40.8 billion by 2022.
The shift from physical to digital media has been one of the core drivers of the global and local E&M market for many years. But different media segments have experienced strongly contrasting patterns of digitisation. In some cases, consumers have been quick to drop physical formats and embrace digital alternatives at the first opportunity.
Although the growth rate for physical books is moderate, it is notable that books are performing far better than any other non-digital sector.
“Permanency and collectability may be the reason for this. Books are seen as collectibles often owned and displayed for many years, making the loss of their physical presence more significant,” explains Myburgh. Although books currently seem to have the best prospects of any physical media format, they are, like every other media segment, just one disruptive digital competitor away from major upheaval.
Newspapers and magazines will see revenues decline over the next five years. In 2017, total newspaper revenue fell by – 2.9 percent to R8.6 billion. The forecast for the years ahead is for decline at -4 percent CAGR. By 2022, South African total newspaper revenue is expected to drop to R7 billion.
Despite 24/7 access to media and entertainment, the appeal of shared, live experiences still attracts audiences. Music events still draw large crowds, with ticket sales set to see an 8.0 percent CAGR to 2022, helped by major tours from popular crowd-pulling acts in 2018.
Recovering admissions and rising ticket prices together with improved offerings will see box office revenue deliver modest growth at a 3.5 percent CAGR through 2022. South African audiences are prepared to pay a premium to watch big-budget films with surround sound, vibrating seats, temperature change, strobe lights and so on. Radio continues to have a solid listener base in South Africa, and a weekly reach of 91 percent. Radio revenue is projected to rise 3.9 percent CAGR over the forecast period to surpass the R5 billion mark in 2022.
Chat apps and social platforms have become an increasingly important part of day-to-day life for consumers, both in South Africa and worldwide. As usage and entertainment rise, key players from across the E&M industry have teamed up with these platforms, growing them into ‘one-stop shops’ for consumer needs.
The report shows that advertising in the E&M industry was mostly affected by South Africa’s economic environment, with cautious growth of just 1.9 percent year on year. An improvement is expected to 2022, with a 3.3 percent CAGR bringing total advertising revenue to R41.5 billion, from R35.3 billion in 2017. New technologies and devices like artificial intelligence (AI), virtual and augmented reality, voice-based smart home devices and virtual assistants look set to drive innovation in online advertising on a global scale in the coming years.
The report also said Kenya’s E&M industry saw 17 percent year-on-year growth in 2017, again propelled by growth in the Internet sector. An 11.6 percent CAGR will take the country to $2.9 billion in 2022, from $1.7 billion in 2017. Outside of the Internet space, TV and video revenue dwarfs the other segments.
In addition, Ghana’s E&M industry has more than tripled in value since 2013. Total revenue reached $752 million in 2017. It is forecast to surpass $1 billion in 2019 and to total $1.5 billion in 2022, increasing at a 14.2 percent CAGR. As with Nigeria and Kenya, Internet access spend accounts for much of this revenue and growth. Ghana is in a strong position for further E&M growth as revenue gains critical mass over the next five years.
It further said total E&M revenue in Tanzania stood at $496 million in 2017, having risen 28.2 percent year on year. Continued momentum at an 18.3 percent CAGR will see revenue reach $1.2 billion in 2022, 2.3 times the size of the market in 2017. Tanzania’s E&M revenue make-up is ostensibly similar to that of Ghana, although here Internet revenue takes a slightly less dominant position.
Between them, the five countries considered in the Outlook will, driven by Nigeria, add $12.4 billion in revenue from 2017 to 2022, at a combined CAGR of 11.9 percent. Although much of this will fall into the hands of telcos, there are significant opportunities for content providers too. The engine of growth here will be organic, with increased populations and gradually increasing disposable income swelling the ranks of potential E&M consumers – and ever-increasing Internet access greatly expanding the range of E&M opportunities available.
“To succeed in the future that’s taking shape, companies must re-envision every aspect of what they do and how they do it. It’s about having, or having access to, the right technology and excellent content, which is delivered in a cost-effective manner to an engaged audience that trusts the brand. For those able to execute successfully, the opportunities are legion,” Myburgh concludes.
African artists always capture hearts, souls and playlists and 2024 was no different for the continent’s culture-making, record-breaking stars. Shining bright from Afrobeats to Amapiano and beyond, Spotify Wrapped2024 looks at African artists who made magic and those you need to add to your library in 2025.
Afrobeats to Amapiano hitmakers to look out for
The Amapiano movement saw new acts like Scotts Maphuma and singer-songwriter Zee Nxumalo shine bright, with respective hits Yebo Lapho and Thula Mabota. These tunes stood out for fans and brought the pair to the top two spots on their local breakout artists lists.
DJ duo Shakes & Les follow thanks to their electro-amapiano-infused debut album MKHAYA, which attracted new fans and propelled them to be the third most discovered artists in South Africa according to Spotify data. Soweto-born vocalist Lee McKrazy was one of the most featured artists of 2024, making him a hitmaker to look out for this year.
Nigeria’s embrace of Amapiano could see even more collaborations in the new year. As the second-highest Amapiano consumer with over 50 billion streams, Nigeria’s artists are giving local fans what they want by working Amapiano elements into genres like Afrobeats. Songs like Are You There, by leading breakout artist Ayo Maff are further signs of this trend. The self-proclaimed Prince of the Street is a performer to watch out for in 2025.
Tml Vibez’s piano-driven rhythms and hymn-like melodies took second place in Nigeria’s breakout artists list. BoyPee won hearts and feet and the third breakout artist position with his infectious mix of Afro Soul, Afro Pop, and traditional sounds. Tracks like Ogechi with Davido, illustrate the musical blends that make BoyPee an artist to look out for this year.
Afrobeats star KAESTYLE is Nigeria’s fourth-ranking new musician, thanks to his feel-good anthems dedicated to joy, unity and resilience. And Llona’s passionate Afropop songs, like Cold War with compatriot FAVE, reflected the challenges and aspirations of his growing fanbase – earning him fifth place on Spotify’s breakout artists charts.
Gospel, Rap and Arbantone hitmakers to know
Beyond Amapiano and Afrobeats sounds, Durban-born rapper Usimamane got South Africa’s hip-hop heads saying his name with his breakthrough single Cheque. Getting together with familiar names like YoungstaCPT, ANATII and K.O made sure his debut album would turn heads and establish Usimamane as an exciting prospect for the continent’s rap scene.
Rapper and producer King Paluta’s dynamic blend of traditional rhythms and hiplife made him a name to be reckoned with. Fans have gravitated to his bumping beats and confessional loverboy lyrics on songs like Makoma. At the end of 2024, he dropped his debut album, Give Time Some Time, giving fans more Reggae, Afrobeat, and Gospel-inspired sounds to sink into in the new year.
Gospel sounds continue to prosper on the continent as groups like Team Eternity Ghana reached the masses in 2024. Starting as a fellowship of school students, they combine enchanting melodies with evangelical messages that resonate with spiritual song seekers. Tracks like Defe Defe which put them on the map, were remixed for genres like Drill, thus attracting younger fans who found the group through viral dance challenges.
Kweku Smoke uses religious metaphors and imagery on his Kewku Jesus and Born in Hell albums. His vibrant rap with lyrics in Twi, Pidgin and English made him a standout artist in 2024. He took on themes like the struggle between authenticity and a new identity as one rises to stardom. Asakaa and Drill-inspired singer-songwriter, Xlimkid, made a name for himself with party bangers like Valley of Trappers and the emotionally loaded Lonely Road. Goodsin hitmaker Olivetheboy continued to ride the wave from his debut project Avanna, shaking up Ghana’s music scene in 2024 with the Deluxe release of the album. Being tapped for a feature on King Promise’s True To Self album allowed new listeners to discover Olivetheboy.
Kenya’s Arbantone is expected to continue growing in popularity this year. Singer, dancer, and choreographer Sean MMG was one of the breakout names of the genre and fellow rapper YBW Smith also solidified his breakthrough with viral hits like Pop Like This. Lil Maina’s Genge urban sounds and Swahili, Sheng and English lyrics made him a household Arbantone name and one to keep an eye on this year. Spotify has also supported the growth of the genre through unique playlists showcasing new and established artists.
These up-and-coming artists show the bright future that African music has ahead of it. From Afrobeats and Amapiano blends to linguistic fusions that connect with fans on emotional and spiritual levels, the continent’s sonic identity is more vibrant than ever. These artists should be on your radar as we look forward to the breakout hits of 2025.
By Dele Ashiru
Nigerian film audiences, especially Nollywood enthusiasts, can look forward to a dynamic shift in their beloved industry in 2025. With technology driving innovation and audiences craving richer, more relatable stories, the Nigerian movie industry is set for significant evolution.
Key trends are emerging that will boost efficiency, grow audiences, and redefine what’s possible in Nollywood. These trends promise benefits for everyone involved: filmmakers, crew members, streaming platforms, and, most importantly, the audiences.
The AI Era: Artificial Intelligence (AI) and machine learning are becoming essential tools in the filmmaking process. In Nollywood, where budgets and schedules are often tight, AI offers opportunities to streamline production.
While AI-generated imagery can assist in creating realistic environments and special effects, human actors will remain central to Nigerian storytelling, as emotional authenticity drives audience connection. With AI, filmmakers can save time and reduce costs while maintaining high production quality — a crucial advantage in Nollywood’s fast-paced environment.
Immersive Film Sets: Nollywood’s growth in genres such as fantasy, sci-fi, and epic historical dramas means that immersive virtual film sets are becoming more relevant. Technologies like LED walls and real-time rendering allow filmmakers to create intricate digital worlds without relying on expensive international locations.
With access to these tools, Nigerian filmmakers can tell ambitious, larger-than-life stories while keeping production local. Imagine epic Nigerian folklore tales or futuristic Lagos cityscapes brought to life with stunning virtual environments.
Authentic Storytelling: Authenticity has always been Nollywood’s strongest suit. Nigerian audiences crave relatable stories reflecting their lives, struggles, and triumphs. Platforms like Africa Magic, Showmax and IrokoTV have already shown the power of hyperlocal content.
Globally, there’s a rising appetite for diverse stories, presenting a golden opportunity for Nollywood. Expect to see more stories rooted in local languages, cultural practices, and regional identities — stories that celebrate Nigeria’s diversity while connecting with global viewers.
Sustainable Filmmaking: Sustainability is becoming a priority across industries, and Nollywood is no exception. Film productions, particularly large-scale ones, can have significant environmental footprints.
One effective approach is sourcing cast, crew, and logistics locally to minimize transportation emissions. Nigeria is already seeing a rise in homegrown talent, supported by training institutions such as the MultiChoice Talent Factory (MTF) Academy in Lagos.
By prioritizing local talent and sustainable practices, Nollywood can reduce costs, empower local communities, and protect the environment.
Building Communities: In Nigeria, movie releases are more than just events — they’re cultural moments. Social media platforms like X (formerly Twitter), Instagram, and TikTok play a key role in amplifying movie buzz, creating fan communities, and driving discussions long after the credits roll.
These communities are not just audiences; they’re active participants in the storytelling experience. For producers, fan engagement on digital platforms isn’t just a marketing tool — it’s part of the movie’s life cycle.
A Thriving Future for Nollywood: The Nigerian film industry is on the cusp of an exciting transformation. With technology, authenticity, and community engagement driving growth, Nollywood is set to tell even bigger, bolder, and more impactful stories.
While the future of filmmaking may still hold surprises, one thing is certain: Nigerian films will continue to entertain, inspire, and resonate with audiences at home and abroad.
By Aduragbemi Omiyale
Popular Nigerian skit maker, Mark Angel, has narrated how he also committed suicide in 2024 after he lost about $3.7 million to foreign exchange (FX) trading.
The Port Harcourt, Rivers State-based comedian stated that the situation left him in a huge debt, noting that his “pastor and his wife stood by me” during the period.
“The year 2024 began like every other year, but I had no idea how much it would test me how much it would break me, yet ultimately reshape me. It was the year I lost everything. I trusted the wrong hands in forex and lost all my money. Nobody knew except my family and closest circle.
“The weight of the loss, over $3.7 million was suffocating. I was drowning in debts, and one by one, I watched all my properties slip into the hands of loan sharks. It felt like my world was crumbling, and in my darkest moments, I considered ending it all.
“But God… If not for His mercies, I wouldn’t be here writing this. He sent angels into my life when I needed them the most. Blessing, my friend who became family, never gave up on me.
“My pastor and his wife stood by me, praying and guiding me. My daughters, Victoria and Mila, reminded me of the beauty of life, even when it felt unbearable.
“My ex-wife Mandy extended a hand of kindness I will never forget. My son, Schoolboy, showed me strength beyond his years. And Bright, my social media assistant, stood as a pillar in moments I thought I’d collapse.
“While I was still trying to heal, undergoing therapy to recover from the trauma, life dealt another blow. A scandal hit, shaking the foundation of my career and questioning the loyalty of those around me.
“It was in that storm that God began to uncover the truth. He exposed the fake friends, the pretenders, and the ones who had been silently sabotaging my peace and my circle. It was painful, but it was necessary.
“2024 was the hardest year of my life, but it was also the year God drew me closer to Him. Through the ashes, He taught me resilience, faith, and the true meaning of grace. I don’t take it for granted that I’m alive today. To everyone who stood with me, prayed for me, and held me up when I had no strength left, thank you.
“Here’s to God’s unwavering faithfulness. If 2024 taught me anything, it’s that even in the darkest valleys, His light never stops shining,” Mark Angel narrated.
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