Investment Opportunities Entertainment and Media
Construction of additional cinemas, theatres and auditoriums for movies, plays, dramas, and entertainment tours. Investment in infrastructure and state-of-the-art equipment required for film making such as film studios, equipment required for computer generated imagery production, digital audio, video recording and mixing.
The Nigerian music industry, comedy shows, cinema or movie theaters have been on the increase giving rise to demand for more cinemas, restaurants and leisure malls. 2% of Nigeria’s GDP is from Entertainment and Media. 3.3.1. Media Advertising Television represents 45% of Nigeria’s total advertising market as the preferred platform for reaching consumers particularly the wealthy and middle class with the remaining 55% shared amongst radio 15%, the print media 18% and outdoor adverts 22%. The Government is taking steps in preparation for the migration from analogue to digital television creating huge investment opportunities in related services, training, financing, expertise and technical assistance.
3.3.2. The Nigerian Film industry The Nigerian film industry ranked the second biggest film industry in 2009 according to the United Nations Educational Scientific and Cultural Organisation (UNESCO). With a growing market, there are great opportunities for the use of stateof-the-art equipments for imagery production, video recording, digital audio and mixing.
3.3.3. Gambling, Lottery and Sports betting Nigeria attracts many business travelers, some of whom visit casinos. Gross gambling revenues have grown at double digit rate in four out of past five years including a 19.2% increase in 2012 to US$31million according to a PwC report. There are currently 3 licensed operating casinos in the country. Gross gambling revenues are expected to expand at a projected 16.3% compound annual rate to US$66 million in 2017. These are administered and regulated by different bodies and may require investors to register and obtain licenses and meet certain obligations.