New report says telcos, breweries brands top annual advertising spend in Nigeria
A new report has said that telcos and breweries remain the top industry advertising spenders in Nigeria.
The 2017/18 edition of Nigerian Media Advertising Guide released by a leading media advertising agency, Media Perspectives, also disclosed that the top most consumed product categories are the fast-moving consumer goods (FMCGs).
The annual publication is a compendium of global and local media/marketing research data, with complementary actionable insights and market intelligence that will help industry practitioners make informed business decisions that ultimately impact positively on the bottle-line.
The Chief Operating Officer, Media Perspectives, Jude Odia, said that there is an urgent need to democratize media/marketing research data as it will help grow market/user appreciation and the potential of the industry in Nigeria.
He explained that the new edition was launched on digital first via a robust content and context based campaign in line with the exponential growth and effectiveness of digital media driven by mobile in Nigeria today. There is also a plan in the works to release the NMAG-App exit 2017. This will further improve its usage experience and convenience for all industry stakeholders.
In the 2017/18 edition of the Nigerian Media Advertising Guide, the agency gives an overview of Nigeria’s population and demographic profile. The report also lucidly gives the overview of the country’s media facts stating that TV, Radio and Outdoor remain the dominant media across the last four years, while the internet has the highest growth percentage since 2012, adding that it is greatly influenced by mobile penetration especially in urban areas.
As a result of TV digitalization, the report urged business owners and advertisers to consider consolidating on Pay TV, which is increasingly affordable due to the availability of low-end consumer platforms and cost of data. It suggests that internet holds a high degree of usage, especially among the young and middle-aged population which are increasingly considered very important in terms of purchasing power.
The report also established that digital media is an effective engagement platform that has an ROI advantage as it is more accountable compared to traditional media. It also stated that exposure to media is higher amongst the southern region (with Lagos blazing the trail), compared to the north, due to ongoing insurgence.
While it posited that terrestrial TV stations in the country have grown to over 160 from 150 in the previous year, with NTA still dominating with about 107 stations pan Nigeria, the report slams the print media for currently facing stiff competition from online news blogs and sites. It however concluded that online versions of the various newspapers remain an inevitable weapon to sustain readership.
According to the leading media agency, the soft copy of the publication can be downloaded from its official website @ www.mediaperspectives.ng/nmag.
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