Nigeria’s entertainment and media revenues projected to reach $4.9bn in 2026 – report

Nigeria’s entertainment and media (E&M) industry is projected to generate revenues of $4.9 billion in 2026, up from $4.5 billion reported in 2025, according to the 2026 PwC Nigeria Economic Outlook.

The projection reflects stronger momentum in Nigeria’s digital economy, which the report identifies as one of the key forces shaping economic performance in 2026.

The report titled ‘Turning macroeconomic stability into sustainable growth’ disclosed that the emergence of the digital economy, supported by regulatory clarity and rising technology adoption, is accelerating growth across media, entertainment, and content-driven services.

According to PwC, digital platforms are reshaping how Nigerians consume media and entertainment, with streaming services, online video, digital music distribution, and social media-driven content creation expanding rapidly.

Read also: Nigerian box office hit historic N15.6bn in 2025 as Nollywood films get more views than Hollywood for first time

These trends are being reinforced by a young, mobile-first population and increasing integration of digital payments, which support monetisation across the entertainment value chain.

The report disclosed that the creative economy is expected to contribute 2 percent of the total revenue generated. OTT video, cinema, music, radio, and podcasts constitute the creative economy segment.

It said, “Growth is increasingly digitally led, with OTT video revenues rising from $33 million to $37 million and music, radio and podcasts expanding from $67 million to $73 million, reflecting rising streaming and audio consumption.”

Despite the positive outlook, the report cautions that growth in the entertainment and media sector will remain uneven. Infrastructure constraints, including broadband gaps and power supply challenges, continue to shape the pace and scale of digital expansion.

PwC also points to adoption gaps and execution risks that could limit the sector’s full revenue potential if not addressed. This includes weak consumer purchasing power and high operating costs

However, the report added that mobile internet penetration, cheaper data plans, and smartphone adoption continue to shift consumer behaviour towards on-demand and digital-first content, particularly among Gen Z and millennial audiences.

“Continued investment in fibre rollout and 5G deployment is expected to unlock new digital experiences and monetisation opportunities, supporting further E&M sector expansion beyond 2026,” it said.