Market Insights Advertising & Media Media

Newspapers & Magazines - Nigeria

Nigeria

In Nigeria, revenue in the Newspapers & Magazines market market is projected to reach US$433.20m in 2024.
Revenue is expected to show an annual growth rate (CAGR 2024-2029) of 4.53%, resulting in a projected market volume of US$540.50m by 2029.
The largest market within this market is Digital Newspapers & Magazines, with a market volume of US$258.20m in 2024.
In Nigeria's Newspapers & Magazines market market, the number of readers is expected to amount to 28.8m users by 2029.
User penetration in the Newspapers & Magazines market market in Nigeria is expected to be at 13.8% in 2024.
The average revenue per user (ARPU) in this sector is expected to amount to US$33.32.
In a global context, the most revenue will be generated the United States, which is projected to reach US$41.08bn in 2024.
In Nigeria, the newspaper and magazine sector is increasingly embracing digital platforms to engage a younger audience amid declining print circulation.

Key regions: France, Germany, Asia, United States, China

Market

Region

Region comparison

Currency

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on the Newspapers & Magazines market, which comprises revenues from physical publications as well as digital replicas (ePapers and eMagazines). The market includes both consumer and advertising spending. All monetary figures refer to consumer spending on digital goods or subscriptions in the respective market. This spending factors in discounts, margins, and taxes.

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.