Nigeria’s entertainment and media industry is projected to generate revenues of $4.9 billion in 2026, rising from the $4.5 billion recorded in 2025, according to the 2026 PwC Nigeria Economic Outlook.
The projection underscores the growing momentum within Nigeria’s digital economy, which the report identifies as one of the major drivers expected to shape the country’s economic performance in 2026.
The PwC report, titled Turning macroeconomic stability into sustainable growth, disclosed that the rapid emergence of the digital economy, supported by improved regulatory clarity and increasing technology adoption, is accelerating expansion across media, entertainment and content-based services.
According to PwC, digital platforms are significantly reshaping how Nigerians access and consume media and entertainment, with strong growth recorded in streaming services, online video platforms, digital music distribution and social media-driven content creation.
These developments, the report noted, are being reinforced by Nigeria’s youthful, mobile-first population, alongside the growing integration of digital payment systems, which are enhancing monetisation across the entire entertainment value chain.
The report further disclosed that the creative economy is expected to contribute about 2 percent of the total revenue generated within the entertainment and media sector. It explained that the creative economy segment comprises OTT video, cinema, music, radio and podcasts.
PwC stated, “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 largely positive outlook, the report cautioned that growth within the entertainment and media sector is expected to remain uneven due to persistent structural challenges.
It highlighted infrastructure constraints such as broadband gaps and unstable power supply as key factors that continue to influence the pace and scale of digital expansion across the country.
PwC also pointed to adoption gaps and execution risks that could limit the sector’s full revenue potential if left unaddressed, including weak consumer purchasing power and high operating costs faced by industry players.
However, the report noted that rising mobile internet penetration, more affordable data plans and increasing smartphone adoption are steadily shifting consumer behaviour towards on-demand and digital-first content, particularly among Gen Z and millennial audiences.
According to PwC, “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.”
