Nigeria’s entertainment and media industry is projected to reach $5.8 billion by 2029, according to a new report from PricewaterhouseCoopers (PwC). The “Africa Entertainment and Media Outlook 2025–2029” highlights that Nigeria remains one of the continent’s fastest-growing creative markets, powered by digital innovation, mobile penetration, and a youthful population.

Read more: Nigeria’s Entertainment and Media Revenue Set to Hit $5.8 Billion by 2029

PwC’s report indicates that the country’s entertainment and media revenue grew by more than 11 percent in 2024, outpacing other major African economies. Revenue is expected to rise from $4.1 billion in 2024 to $5.8 billion in 2029, representing a compound annual growth rate (CAGR) of 7.2 percent.

Key drivers of growth

Digital media continues to lead this expansion. Online advertising is forecast to account for about 84 percent of Nigeria’s total ad spend by 2029, supported by increasing smartphone use and improved data access. The gaming and esports sector is also booming, with projections showing it could surpass traditional television revenue by 2028.

Streaming platforms, digital music, and film production remain vital pillars of Nigeria’s creative economy. Nollywood continues to attract international attention, while local creators are reaching wider audiences on YouTube, TikTok, and other digital platforms.

Despite the optimism, the report points to ongoing challenges. Infrastructure limitations, unreliable power supply, and uneven broadband access remain barriers to sustained growth. Inflation and regulatory uncertainty also pose risks to investors and content producers.

Industry analysts suggest that if Nigeria continues investing in broadband expansion and policy reforms, the entertainment and media market could become one of Africa’s largest contributors to GDP. Stakeholders are being encouraged to focus on digital content monetisation, local talent development, and strategic public-private partnerships.

The growth trajectory reflects a maturing market that is finding global relevance. With international streaming giants and local startups expanding operations, Nigeria’s entertainment and media industry is fast becoming a regional powerhouse for creativity and innovation.