Media Rights - Nigeria | Statista Market Forecast

In Nigeria, revenue in the Media Rights market market is projected to reach US$2.4m in 2024.
The revenue is expected to exhibit an annual growth rate (CAGR 2024-2029) of 19.41%, leading to a projected market volume of US$5.8m by 2029.
Although most revenue is generated the United States, Nigeria's projected market volume is US$74.4m in 2024.
Nigeria's burgeoning youth population is driving increased interest in eSports media rights, positioning the country as a potential hub for digital entertainment.

Definition:

Esports Media Rights refer to the licensing agreements that grant broadcasters, streaming platforms, and media companies the exclusive or non-exclusive rights to distribute and broadcast esports content, including tournaments, matches, and related programming. This market involves the negotiation and sale of these rights to various media outlets, enabling them to reach global audiences through television, online streaming, and other digital platforms. The revenue generated from media rights is a significant contributor to the esports economy, helping to fund events, teams, and game developers while also expanding the visibility and mainstream appeal of esports. As esports continues to grow, media rights play a crucial role in shaping how competitive gaming is consumed and monetized worldwide.

Additional information:

The market comprises revenues, users, average revenue per user, and penetration rates. Revenues are generated through consumer spending and ad spending. Sales channel data shows online revenues. All monetary figures refer to the annual gross revenue.
Key players of the market include companies or teams such as FaZe, Cloud9 or TSM.
For more information on the data displayed, use the info button right next to the boxes.

Revenues from media properties
Revenues paid to industry stakeholders
Payments from streaming platforms
Foreign broadcasters securing rights to show content in their region
Copyright costs for showing video / image content

Media Rights outside of the Esports ecosystem

The eSports market in Nigeria is witnessing substantial growth, fueled by factors like the increasing adoption of digital technologies, growing awareness about media rights, and the convenience of online services. The market's growth rate is driven by various factors, making it a lucrative industry for investors and players alike.

Customer preferences: With the rise of streaming platforms and online gaming tournaments, there has been a significant increase in consumer demand for media rights within the eSports market in Nigeria. This is largely driven by the growing popularity of eSports among the younger demographic, who are more tech-savvy and digitally connected. Additionally, the rise of social media influencers and celebrities within the eSports community has also contributed to the surge in demand for media rights, as fans seek to stay updated and engaged with their favorite players and teams. This trend highlights the importance of digital content and online engagement in the rapidly evolving eSports landscape.

Trends in the market: In Nigeria, there has been a notable increase in the number of streaming platforms offering eSports content, with the country's growing gaming community driving demand. The market is also witnessing a rise in advertising and sponsorship deals, as brands recognize the potential of reaching a young and engaged audience through eSports. Additionally, there has been a shift towards incorporating traditional media outlets, such as TV and radio, in the distribution of eSports content. This trend is expected to continue, attracting more players and investors to the market and solidifying eSports as a mainstream form of entertainment in Nigeria.

Local special circumstances: In Nigeria, the eSports market is still in its early stages, but it is rapidly gaining traction due to the country's large youth population and high internet penetration rates. However, the media rights market for eSports faces challenges such as limited infrastructure and lack of government support. This has led to the rise of local streaming platforms and the use of social media to promote eSports events. Additionally, cultural factors such as the popularity of traditional sports and the dominance of mobile gaming also play a role in shaping the media rights market for eSports in Nigeria.

Underlying macroeconomic factors: The Media Rights Market within the eSports Market in Nigeria is impacted by macroeconomic factors such as the country's economic stability, government policies, and global economic trends. The stability of Nigeria's economy, along with favorable regulatory support and investment in media infrastructure, can drive the growth of the market. However, challenges such as regulatory barriers and limited funding for media development can hinder market growth. Additionally, the increasing popularity of eSports globally and the rise of digital media consumption in Nigeria also play a significant role in shaping the market's performance.

Data coverage:

The data encompasses B2C enterprises. Figures are based on the Media Rights market, which comprises revenues from ownership rights of media agencies. These include payments to industry stakeholders to secure the rights to show Esports content on a channel, payments from streaming platforms (e.g., Twitch) to organizers to broadcast their content, payments from foreign broadcasters to secure the rights to show content in their region, or the copyright costs for showing video/image content of an Esports competition. All figures are based on net revenues and exclude agency commissions, rebates, and production costs.

Modeling approach / market size:

The market size is determined through a bottom-up approach. We use annual financial reports of the market-leading companies and industry associations, third-party studies and reports, survey results from our primary research (e.g., Consumer Insights), as well as performance factors (e.g., user penetration, price per product, usage) to analyze the markets. To estimate the market size for each country individually, we use relevant key market indicators and data from country-specific industry associations, such as various macroeconomic indicators, historical developments, current trends, and reported performance indicators of key market players. In particular, we consider average prices and annual purchase frequencies.

Forecasts:

We apply a variety of forecasting techniques, depending on the behavior of the relevant market. For instance, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption. The main drivers are GDP per capita, consumer spending per capita, and 4G coverage.

Additional notes:

The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development). Consumer Insights data is reweighted for representativeness.

This report presents a comprehensive analysis and additional information on the Advertising & Media market, in a PDF format.

The rapidly growing phenomenon surrounding eSports continues to gather steam. The intersection of gaming and sports offers an innovative wave of branding opportunities, engaging content and activations for millions across the world. It therefore comes as no surprise that the size of the global eSports market is expected to increase more than fivefold between 2023 and 2032, reaching a value of over 10 billion U.S. dollars within the next ten years.