Nigerian music industry is the second best-performing Entertainment and Media Consumer market globally

Stears Business revealed that the Nigerian Music industry is the second best-performing Entertainment and Media consumer market in the world.Information Guide Nigeria

These details were revealed on Thursday, 1st September 2022. Accordingly, the industry is expected to generate $73 million in 2023.

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Even though the Nigerian music industry has experienced consistent growth over the years, it has emerged as the second best-performing entertainment consumer market.

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Major international record labels have made a comeback in the music business, investing in the talent pool to benefit from the boom of Afrobeats, one of the fastest-growing genres globally.

Nigeria’s distinctive status as the centre of Afrobeats has made it possible for it to draw investment from record labels, publishing companies, music streaming services, and even investment firms hoping to profit from the boom.

The Nigerian government has provided little to no support for the music industry, but it has been able to expand and set the standard for Nigeria.JAMB Result

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