2024 Recap: Major stories that made headline on MARKETING EDGE
By Abimbola Mohammed
As the curtains closed on 2024, MARKETING EDGE reflects on some of the major stories that shaped the Integrated Marketing Communication landscape in Nigeria and made news on its multimedia platforms. With its finger on the pulse of the industry, MARKETING EDGE has been dedicated to delivering authoritative, authentic, and breaking news that informs, educates, and inspires.
From game-changing ad tech innovations to groundbreaking campaigns that pushed the boundaries of creativity, trends, innovations, product launch, market activations, projections and many more.
A look at some of the key moments in MARCOM industry over the last year
MARKETING EDGE unveils Nigeria’s Top 10 Brand Strategists
MARKETING EDGE Publications unveiled its exclusive list of Top 10 Brand Strategists in Nigeria, as an exceptional celebration of brilliance, strategy, and creativity in the nation’s marketing and advertising industry. This groundbreaking initiative honours the visionaries who have redefined brand storytelling, delivered transformative campaigns, and elevated the art of marketing to unprecedented heights.
Global digital banner advertising market to reach US$227.40bn by 2029
The world digital banner advertising market is expected to exhibit an annual growth rate (CAGR 2024-2029) of 5.49%, leading to a projected market volume of US$227.40bn by 2029.
In 2024, it’s Ad spend is forecasted to reach US$174.10bn. The market in scope in this projection include banners on websites, in apps or social media, rich media ads on websites, in apps or social media, videos on websites or in apps that are displayed instead of banners and Native advertising.
Outdoor ad revenue exceeds projections, shows resilience – report
The Out-of-Home advertising sector has outperformed expectations in the June quarter, with revenue increasing by 6.7% to $305.4 million from $286.2 million in the same period last year. This robust growth highlights the sector’s resilience amid a challenging advertising landscape.
Digital Out-Of-Home (DOOH) advertising has significantly boosted these figures, accounting for 74.4% of total net media revenue year-to-date, a notable rise from 71.9% in the previous year.
Advertising, Public Relations, and related services market on track to hit a trillion-dollar valuation
The advertising, public relations, and related services market is poised to reach a monumental milestone, with its valuation set to hit a trillion dollars. The market, which includes a broad spectrum of services such as advertising agencies, media buying, public relations, and direct mail advertising, has demonstrated robust growth over recent years.
Growing from $878.26 billion in 2023 to $922.29 billion in 2024, with a compound annual growth rate (CAGR) of 5.0%, projections from research company Research and Markets indicate that the market will continue to expand, reaching $1,101.03 billion by 2028 at a CAGR of 4.5%. This sustained growth can be attributed to several pivotal factors, including the expansion of media channels, globalisation, the digital revolution, increased brand-building activities, political campaigns, and shifting social and cultural dynamics.
Newspaper advertising market to reach US$33.35bn in 2024
The global landscape of newspaper advertising is undergoing significant shifts, with projections indicating both challenges and opportunities for stakeholders in the industry, as a world market research platform, Statista forecast the market to reach a substantial figure of US$33.35 billion in 2024.
However, the growth trajectory is expected to exhibit a declining trend, with an anticipated annual growth rate (CAGR 2024-2028) of -5.09%.
Global food trends reshape consumer preferences, Kantar unveils strategic insights
Kantar’s Worldpanel division has shed light on evolving global eating patterns, revealing how shifts in consumer behavior are shaping food brands’ strategies. Drawing from three million consumption moments across various regions, the report highlights key trends influencing eating habits worldwide and how brands can tap into emerging opportunities.
MARKETING EDGE to unveil Top 20 Agencies across IMC in Nigeria 2024
MARKETING EDGE, Nigeria’s leading publication in integrated marketing communications, is set to unveil a landmark edition titled “Top 20 Agencies Across Sectors in Nigeria 2024”, as the publication’s review.
These sectors include Best agency in PR, Creative, Out-of-Home, Digital, Media Buying, and Experiential amongst others.
Legacy media must collaborate to stay relevant – Obaya
At the just concluded 2024 National Advertising Conference, Nnamdi Obaya, general manager of AFIA TV, explained the need for legacy media to collaborate to remain relevant. He stressed that the media landscape has changed, and audience behaviours have shifted, making it essential for traditional media outlets to adapt.
Why stakeholders need to redefine media advertising industry – Dentsu X MD, Chike Oputa
The Cluster MD of Dentsu X and Dentsu Location Services, Chike Oputa, has challenged stakeholders of the media advertising industry on the need to redefine advertising practice in Nigeria.
Oputa made this charge while speaking at the 2025 Business Outlook Session organized by the Media Independent Practitioners Association of Nigeria (MIPAN) in Lagos.
Speaking on the theme, “Navigating the Cost of Doing Business in Nigeria: Value Delivery in a Tough Economic Climate, Oputa noted that advertising agencies need to develop strategic frameworks for sustaining value delivery, fostering resilience, and driving long-term success in a demanding business environment.
Airtel Nigeria unveils new home broadband TV commercial, featuring ‘King of Steeze’ Farooq Oreagba
Airtel Nigeria has unveiled its latest television campaign for its Home Broadband suite of products, which are designed to empower Nigerians to experience seamless and limitless internet connectivity.
The campaign, launched at an exclusive private screening held at Ebonylife Place in Lagos, on Tuesday, 5th November 2024, featured a flagship TV commercial starring Farooq Oreagba, popularly known as the “King of Steeze”.
Effective market spending creates multiplier effect – Adelusi
Dr. Femi Adelusi, former president of Media Independent Practitioners Association of Nigeria (MIPAN) /CEO of Brandeye Media, has said that the significance of concept of GDP multiplier effect, well-known among economists, cannot be overstated in the marketing communication industry. According to him, “Understanding the GDP multiplier is crucial for businesses and policymakers seeking to stimulate economic growth.”
Nigeria emerges as global leader in social media usage
Nigerians are ranked among the highest social media users worldwide, with the latest data for 2024 placing the country fifth globally in terms of average daily online engagement. According to a report by Cable.co.uk, shared by World of Statistics on X, Nigerians spend an average of 3 hours and 23 minutes each day on social media platforms.
IMC professionals in the season of upward movement
There appears to be exciting movements in the Nigerian Integrated Marketing Communication (IMC) industry in the last quarter of the year 2024, as professionals in the sector rise in their various fields of endeavours in recent times. Among these proud scions of the industry are: Gbenga Elesha, Olubunmi Akinrimisi, Oluwasemilore Adeoluwa, Peter Otu and Yewande Ase-Alao.
GEORGE THORPE @ 70: Celebrating the grandfather of modern BTL in Nigeria
Whenever and wherever the subject of integrated marketing communications businness as well as below- the- lines are being discussed, the name Dr. George Thorpe will inevitably come to mind.
He is one iconic visionary leader who has helped to redefine the brand management strategy and brand activations ideation in the contemporary history and histrionics of modern IMC eco- system.
Folake Ani-Mumuney exits FirstBank, leaves giant strides on her trails
In a world where the average professional changes jobs every five years and the banking sector is constantly evolving, it can be difficult to know how to make a solid mark and progress in one’s career.
However, for proactive professionals who do not wait for opportunities to come to them but rather seek out opportunities and take on extra responsibilities, sterling achievements and getting to the apogee will always be their lot.
Nestle Nigeria empowers communities through sustainable community development
In an era where consumers concentrate on brands and companies that take social responsibility seriously, more companies are strategically looking for ways to make remarkable impact in different communities.
Innovative and forward-thinking businesses are filling the gaps by providing and supporting communities through building infrastructure, financial assistance, investing in local talents, skill development, partnership with local leaders, food insecurity, enhancing quality of life, disaster relief etc.
Kellyrae clinches Big Brother Naija Season 9 prize
Following ten weeks of creative intrigues and hotly contested game play in the Big Brother House, Kingsley Oritsetimeyin, aka Kellyrae, has added colour to the history of the biggest show on the African continent by emerging winner of Big Brother Naija Season 9.
In a star-studded finale featuring performances from popular artistes like Joseph Akinfewa-Donus, aka Joeboy, and Chimamanda Chukwuma, popularly referred to as Qing Madi, Kellyrae walked away with a brand new SUV and a grand cash prize of N100 million, marking a victorious end to the highly competitive show.
MARKETING EDGE holds NATIONAL SUMMIT 2024 to create paradigm shift in marketing excellence
The highly anticipated Marketing Edge National Marketing Stakeholders Summit is set to be held on September 27, 2024, at 9:00 AM. This year’s event promises to redefine the marketing landscape with its theme: “Tech Acceleration: Integrating AI Without Sacrificing Human Creativity.” Attendees can expect a robust lineup of global thought leaders who will share invaluable insights that bridge technology and creativity in marketing.
MARKETING EDGE remembers its pioneer awardees with heartfelt gratitude
As the curtains rise on another season of recognition and celebration in Nigeria’s marketing and advertising industry, MARKETING EDGE takes a moment to reflect on the historic night that ignited its journey of honoring excellence.
It was 11 years ago when the inaugural MARKETING EDGE Awards were held, marking a pivotal moment in the firm’s history and coinciding with its 10th anniversary. For a company just beginning to establish itself in the world of awards organizing, the magnitude of that night—the caliber of the honorees, the grandeur of the venue, and the industry buzz it generated—remains an enduring source of pride.
Nigeria’s spirit market soars in 2024
The spirits market in Nigeria has witnessed a significant rise with 2024 proving to be a remarkable year for both at-home and out-of-home consumption.
While consumers continue to embrace premium spirits and traditional beverages alike, the market is said to have been positioned for growth, driven by changing consumer preferences and a positive economic outlook.
OAAN welcomes 15 new member agencies in a grand style
The Out-of-Home Advertising Association of Nigeria (OAAN) has welcomed a new batch of 15 agencies into its fold, with the inductees expressing their elation and commitment to upholding the association’s standards.
The association also upgraded an agency members from pre-Associate to Associate, while two agencies were upgraded from Associate to Full Associate.
X3M Ideas empowers next gen with tech skills
X3M Ideas, one of the leading advertising agencies in Nigeria, has concluded the second phase of its X3M Tech CSR initiative with Murtala Ajadi Animashaun Community Senior Grammar School in Surulere, Lagos.
The X3M Tech initiative is designed to empower young minds with essential tools, knowledge, and cutting-edge technological skills required to thrive in the rapidly evolving digital landscape.
OAAN backs bill for chartered body in OOH media
The Out-of-Home Advertising Association of Nigeria (OAAN) has expressed its support for the proposed bill seeking to establish a chartered body for organizations involved in Out-of-Home media ownership, such as billboard operators.
This move aims to bring orderliness, guidelines, and professionalism to the sector, promoting growth and sanity in the industry.
HASG kicks over Chartered Out-of-Home Media Practitioners Bill, clarifies stance
The Heads of Advertising Sectoral Groups (HASG) have issued a formal response to recent reports concerning the proposed establishment of a body called Chartered Out-of-Home Media Practitioners of Nigeria (Establishment) Bill, 2024, refuting claims that the bill had the endorsement or backing of the sectoral body.
Femi Adelusi concludes tenure as HASG Chairman, hands over to Lanre Adisa
The Heads of Advertising Sectorial Groups (HASG) has elected Mr. Lanre Adisa as its new chairman. This latest development took place on July 23, 2024.
Lanre Adisa, who ran unopposed, also recently secured a victory in the Advertising Agencies Association of Nigeria (AAAN) election.
World PR Day 2024: Lagos NIPR urges PR professionals to embrace change
As we commemorate another World PR Day on July 16, 2024, the Lagos Chapter of the Nigerian Institute of Public Relations (NIPR) is emphasizing the critical need for PR professionals to adapt to the rapidly changing landscape of the industry.
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