It’s Been An Interesting Year For The Entertainment Sector In Nigeria

Nigeria’s status as one of the biggest economies in Africa, with a fairly young population, means that the entertainment sector in the country has been growing, with various options and alternatives as well for people to consider.

There have been quite a few new mediums which have also come to the fore, and thus it will be interesting to look at the state of the entertainment sector in Nigeria at this time.

The Nigerian film industry, called Nollywood, still rules the roost, but there are many alternative forms of entertainment that have also begun to catch up. The arts, entertainment and recreation sector contributed 2.3% to Nigeria’s GDP in 2016, showing how important it has been to the country’s growth. The Nigerian film industry has also been attracting international attention, as seen by streaming giant Netflix’s entry into the country, as well as its investment in Lionheart, which was directed by Nigerian legend Genevieve Nnaji, and marked Netflix’s first feature film with full creative control in African hands. However, in terms of the industries that have been catching up, the gambling and casino industry has been one of the most prominent ones.

Even though casinos are tightly regulated in Nigeria, with Nigerians still unable to own or operate them, for example, they can still play on online casinos. This has proven to be extremely popular, with online casino table games and similar websites generating revenue of £55.8 million in revenue in 2019, which is more than double the size of the market just five years ago. In 2014, the country’s gambling revenues were only £27.8 million, showing just how much growth has taken place in a short period of time.

This has also led people to state that Nigeria’s gambling market has the highest potential of any market in Africa, along with South Africa. The major reason for this is the popularity of sports, especially football, in Nigeria, due to which sports betting is also extremely popular. This is also linked to the young demographics of the country, with many young sports fans also keen to wager on their favourite sports teams and players. Another factor driving this is the proliferation of mobile phones in the country, with smartphone users projected to rise to more than 140 million by 2025. This is quite staggering, given that the current numbers are probably around 25 and 40 million, and this growth will also lead to higher numbers for mobile casinos as well.

The COVID-19 pandemic has also changed things. Cinemas, for example, have lost an estimated N8 billion over this year, which is just one example to show how the entertainment sector has been hit particularly hard by the pandemic. It has thus been interesting to see how artists and performers have adapted, with the internet coming to the rescue to some extent. Many artists put on live performances through live streaming sites, which also allowed them to connect with fans on an unprecedented level. At the same time, streaming sites such as Netflix have seen a huge spike in the number of users, not just in Nigeria but all over the world.

Several TV shows also became quite popular again, with ‘Big Brother Naija’ leading the way in that regard.

There have also been special concerts organized during this time – the ‘Hope for Africa’ concert was one of those, being a three-hour televised concert with top African and Nigerian artists such as Betty G, Efya, BM and more, which was aimed at raising funds for the COVID-19 relief effort.

It has been quite interesting to see how the Nigerian entertainment industry has evolved this year, with various types of entertainment options becoming quite popular as people stayed indoors.

Source: gltrends.com.ng

About Post Author

Samuel

I am a journalist specializing in gambling in Africa and around the world. I am particularly interested in stories about games and casinos.

See author's posts

Samuel

I am a journalist specializing in gambling in Africa and around the world. I am particularly interested in stories about games and casinos.