The Nigerian Entertainment and Media Industry is the largest entertainment industry in Africa. Due to its rapid growth, this field is becoming the major contributing factor to the overall GDP of the country. In the past five years, it has encountered the fastest growing and has become the second-largest entertainment market in the world. Different entertainment sources contribute to the Nigerian Entertainment market that has made it one of the trending industries all over the world. Here are the major entertainment sources in this market.
1- Film Industry
Movies are the major sources of entertainment that are loved worldwide. This is the media and entertainment source people like the most. The Nigerian Entertainment industry has a great record in the film industry. According to an estimate, this industry produces about 50 movies weekly. These movies not only engage maximum people but also engage maximum people for maximum time.
2- Television Industry
Television shows, serials, and many other entertainment sources are also common in the Nigerian Entertainment industry. As people love to spend most of their time on the television when they are with family, it’s a great source of enjoyment to be enjoyed together. Along with the enjoyment sources, the advertising also earns a handsome revenue to the management. So, it’s the other major entertainment and advertising source of Nollywood.
3- Live Concerts
People love live comedy, music, and many other concerts. Besides the physical enjoyment, many people love to watch them on the TV screens. In Nollywood, many emerging stars keep on performing in live concerts. So, this entertainment can’t be denied and contributes a lot to the popularity of the Nigerian Entertainment industry.
4- Radio as an Entertainment Source
Amid the massive growth in technology, the importance of audio content can’t be denied. There are still people who love to listen to radio entertainment shows, music, and live podcasts. In Nollywood, radio is also one of the major sources of entertainment, particularly in those regions where technology is less advanced.
5- Advertising Industry
The media and entertainment industry of Nigeria, Nollywood, earns a handsome profit through advertising. Whether it’s print media or electronic, advertising plays an important role in it. The television industry earns more than 72% through advertising. So, this is another part of the media and entertainment of Nigeria.
6- Print Media
Written blogs and columns about the success of different Nollywood actors and actresses are one of the top trends of Nigeria’s media and entertainment industry. There are still people who love to read the newspaper, column, and different articles. So, this is also one of the major components of the media and entertainment industry of Nigeria.
Nigerian Entertainment and Media Industry are becoming the world’s largest entertainment market due to its fast growth. Over the last few years, this industry has featured tremendous growth in all the above-mentioned fields of entertainment. Different people love different entertainment sources, so all of the above are the top trends of Nollywood.