The Nigerian media sector is experiencing rapid growth and facing strong competition as it continues to evolve, according to a report by a leading media intelligence consultancy, P+ Measurement Services.
The report analysed top media performers in the Nigerian subscription-based streaming services, telecommunications, and insurance sectors for the second quarter of 2023. The analysis was aimed at providing a comprehensive overview of each industry’s media share, considering the advancements in subscription-based streaming services, the telecommunications sector’s expansion, and the insurance sector’s consistent performance.
The media analysis monitors over 1.3 million online publications in the local and global media space, including blogs, news sites, forums, and digital media, as well as approximately 1,380 print publications (including daily, weekly, and monthly publications), from which various meta-data were harvested.
In the Nigerian subscription-based streaming industry, Netflix Nigeria emerged as the top performer out of the five brands monitored, capturing a significant media share of 47 per cent, followed by Amazon Prime Video and Showmax Nigeria with 29 per cent and 24 per cent respectively.
The Nigerian telecommunications industry saw a competitive landscape with several key players. The top media performers, out of the five brands monitored, in terms of media share: MTN Nigeria and Airtel tied for the top position, each capturing 30 per cent of the media share. Globacom secured 25 per cent and 9mobile 15 per cent .
Out of the 10 leading insurance brands monitored, five stood out as top media performers, with Leadway Assurance maintaining its position as the top performer in Q2, capturing 39 per cent of the media share. Coming in second was AIICO Insurance with 19 per cent, AXA Mansard Insurance ranked third with 18 per cent, NEM Insurance came in fourth with 15 per cent, and Mutual Benefits Assurance with 9 per cent.
During Q2, noteworthy media drivers in the subscription-based streaming services sector in Nigeria included Netflix Nigeria’s innovative approach of reimagining folktales with African filmmakers, transforming them into dark fantasy dramas. Amazon Prime Video achieved a significant milestone for the brand with Jade Osiberu’s Gangs of Lagos setting a new record. Additionally, Showmax Nigeria collaborated with Upbeat to host a special screening party for children on Children’s Day, where they had the opportunity to hang out with Jay Jay Okocha.
The Nigerian telecommunications industry witnessed several significant PR drivers during the period. One noteworthy development was MTN Nigeria’s securing approval from the Nigerian Communications Commission to lease NTEL’s spectrum, which greatly influenced the industry. Airtel Nigeria experienced a boost in its brand recognition and reputation following the appointment of Carl Cruz as MD/CEO. Similarly, Globacom garnered attention and media coverage as Chief Executive Officer, Mike Adenuga celebrated his 70th birthday. Furthermore, 9mobile made headlines with its announcement of a substantial N70 billion investment in network modernisation, driving its presence and impact in the market.
Leadway Assurance garnered significant attention by achieving a groundbreaking milestone as the first insurer to surpass N100 billion in premium income within the insurance sector. In a notable display of Corporate Social Responsibility, AIICO Insurance directed its investments toward the healthcare industry.
AXA Mansard Insurance experienced remarkable growth of 13per cent in revenue during the first quarter, contributing to an increased level of media engagement for the brand. NEM Insurance demonstrated its commitment to policyholders by disbursing a substantial sum of N12.3 billion in claims during the 2022 financial year.
Additionally, Mutual Benefits Assurance witnessed its Chairman, Dr. Akin Ogunbiyi, offering valuable insights to the younger generation about the significance of making favorable first impressions during the launch of his book.
