Nigeria’s Ad spend rose by 5.2 percent in 2015
* Print declined by 4%
A total of N97.9 billion was spent on advertising in Nigerian in 2015, representing a 5.2 per cent jump from N93.1 billion recorded in 2014.
Television got the biggest slice of cake with an advertising spend of N39 billion representing 40% of the total media spend, while the print media which got N23.7 billion, suffered a marginal decline of 4% compared with N25.8 billion in 2014. Outdoor and radio got N20.1 billion and N15.1 billion; respectively. While it was a decline for Outdoor which got N20.5 billion recorded in 2014, it was a rise for radio which got N12.1 billion same year.
The 2015 edition of Mediafacts, a media resource for marketing professionals in West and Central Africa, which made the revelations attributed the jump in advertising spend in 2015 to the 2014/2015 electioneering campaigns and successful change in government which it noted ‘may have positively impacted’ on the advertising spends in year under review.
Advertisers spent highest in the third quarter of 2015 with N29.8 billion, representing 30% of the total spend. N23 billion was spent in the first and second quarter each while spend in the last quarter of 2015 stood at N22.1 billion.
A regional analysis of the ad spend showed that Lagos attracted the highest advertising spend in with N53.1 billion(54%,) followed by the North Central with N12.1 billion(12%), South West got N10.2 billion and South South (N10 billion) while North-East got less than the North East, a development, the publication traced to the menace of insurgency.
Speaking on the new report, Managing Director/CEO of mediaReach OMD, publishers of Mediafacts, Mr. Tolu Ogunkoya, attributed the vibrancy in advertising industry to a vibrant media and a liberal economic environment characterised with many investment opportunities most attractive to foreign investors.
“State radio and TV have near-national coverage and operate at federal and regional levels. All 36 states run at least one radio network and a TV station. There are hundreds of radio stations and terrestrial TV networks, as well as cable and direct-to-home satellite offerings. There are more than 100 national and local press titles, some of them are state-owned. They include well-respected dailies, tabloids and publications which champion ethnic interests. By 2014, 70.3 million Nigerians were online (Internetworldstats.com). Mobile phones are commonly used to access the web. Most Internet users are young, educated and urban.
“The Nigerian environment which is characterized with many investment opportunities seems to be the most attractive for foreign investors because of its liberal economic climate,” he said.
