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Thursday, September 21, 2017

Nigeria to rake in USD452m in 4 years

Nigeria will rake in revenue to the tune of US$452 million from Internet access in the next four years, reports ITRealms.

Making this prediction, experts in entertainment and media said this figure will be part of the USD$ 2.8 billion to be made in the next four years.

This position was contained in the latest ‘Entertainment and Media Outlook: 2017 – 2021: An African perspective’ by the PriceWaterhouseCoopers (PwC) and made available to ITRealms.

Disclosing this to ITRealms, the Entertainment and Media Industry Leader for PwC Southern Afric, Vicki Myburgh, noted that in terms of total E&M revenue, Nigeria is one of the fastest-growing countries in the Outlook.

“… But this figure must be treated with caution, as a huge proportion of that growth comes from Internet access revenue alone–specifically mobile Internet access revenue.”

Of the US$2.8 billion, the Outlook revealed that the Nigerian market will add between 2016 and 2021, all but US$452 million will come from Internet access revenue.

The combined elements of TV and video, the Outlook indicated will add nearly US$200 million in revenue growth to 2021.

The Outlook, ITRealms gathered, is a comprehensive source of analyses and five-year forecasts of consumer and advertising spending across five countries, namely South Africa, Nigeria, Kenya, Ghana and Tanzania; and 14 segments: including the Internet, data consumption, television, cinema, video games, e-sports, virtual reality, newspaper publishing, magazine publishing, book publishing, business-to-business publishing, music, out-of-home, and radio.


Chuks Egbune/GEE 
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