Nigerians have spent 32.6% more on Internet in 2014 to reach $2.1 billion USD and is expected to reach $5.6 billion by 2019, according to a report published by PriceWaterhouseCooper (PwC) released in September 2015.
Nigeria’s Internet spend grew by 32.6% in 2014 to reach US$2 billion - report
The report presents annual historical data for 2010-2014 and provides annual forecasts for 2015-2019 in 11 entertainment and media segments for South Africa, Nigeria and Kenya.
Internet Cafe in Nigeria
The report further notes that although TV advertising will remain the biggest advertising avenue in terms of size throughout the forecast period, followed by OOH advertising, Internet advertising will still surpass radio as the third largest category in terms of spending in 2018.
The report further states that Internet will grow from a 5% share of advertising spend in 2014 to 13% in 2019, with the highest CAGR of 31.6%, citing the rapid growth in video advertising being served by platforms like iROKOtv, according to Techloy.
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The report presents annual historical data for 2010-2014 and provides annual forecasts for 2015-2019 in 11 entertainment and media segments for South Africa, Nigeria and Kenya.
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