Streaming drives telcos’ data revenues to 5-year high

Revenues of telecoms companies hit five-year high in September 2024 on the back of increased streaming activities, online learning and remote work adoption by more firms. Data revenues of telcos (MTN and Airtel) jumped 541 percent to N1.63 trillion in nine months to September 2024, from N254.32 billion reported in the corresponding period of 2019. Over this period, service revenue grew by 187.39 percent, reaching N3.42 trillion. Voice revenues—once the primary income source for telcos—grew by only 70.74 percent to N1.44 trillion. This sho