“Nigeria has one of the fastest-growing markets in the entertainment and media industry,” says the global company PricewaterhouseCoopers (PwC) in its 2016 to 2020 Entertainment and Media Outlook report for South Africa, Nigeria and Kenya.
According to a forecast, Nigerian music will witness significant growth over the next four years. Photo: PricewaterhouseCoopers
The report, released on 22 September, provides historical performance figures in the entertainment industry from the first half of the decade (2011 to 2015) and forecasts performance in the same areas for the next four years.
According to the report, the Nigerian music industry was worth $40 million in 2011 and $47 million in 2015. By 2020 this figure is expected to double to $86 million.