Rapid Advances In Technology Helps A Growing Industry
Though there have been a huge number of contributing factors that have led to the increased use of online entertainment in Nigeria, it is the rapid advancement of technology that has made it accessible to a new wave of people. Whether it be faster broadband for watching content such as Netflix or playing games online with their friends, the use of faster technology in the country has opened doors for a wide range of companies to open up online entertainment services to a brand-new audience in both the older and younger generation.
Internet Advertising Generates Large Amounts Of Revenue
In addition to the use of technology, Nigeria, much like the rest of the world has taken to using online advertising to generate revenue for products and services. This has changed the online entertainment industry in the country in many ways as a large majority of the population begin to make the switch from traditional media to online content in the form of streaming platforms, online gaming platforms and YouTube. It is this advertising generated total revenue of 73 million U.S dollars’ worth of revenue in 2018 which is estimated to grow to 133 million in 2023. It is this marketing strategy as well as increased users that have led to the industry growing substantially over the last five years.
The Closure Of Traditional Pubs And Casinos
Another aspect that has played a role in the online space growing substantially in Nigeria is the closure of traditional and brick and mortar casinos as a result of the pandemic. With several casinos closing there has been a gap in the market for several companies to gain licenses to operate online casinos in Nigeria. Many of them providing the perfect combination of sports betting and traditional casino games, there has been a huge increase in the number of people using online casinos like Casinos.co.za in all its forms as roughly 73% of the population own a smartphone.
Smartphone Traffic Exceeds That Of Broadband Across The Country
With a huge portion of the population in Africa owning a smartphone, there has also been a huge increase in the use of smartphone traffic across the country. This has led to a huge boom in both online gaming platforms and the use of mobile applications to help expand an already growing industry. Though this has taken longer than the UK and other countries to surpass traditional desktop search, this could be a sign of much larger things to come within the industry that is rapidly expanding. This could bring about new opportunities for several companies to obtain licences and begin operating within the country.
2021 is set to be a huge year for the industry within the country as disposable income is also set to increase. Therefore, several online casinos companies have begun to obtain licences to operate there. This is only set to increase soon as the use of mobiles increases and the number of licenses that have been obtained by several other companies begin to expand into a new and emerging market larger than ever before with much more opportunity for new people using these platforms.
There are several ways that the online entertainment industry in Nigeria has begun to expand in recent years as many more people begin to spend more and more time on the internet. Do you think the online gambling world will continue to grow or do you think that the return of traditional casinos will see this number slowly begin to decline? Only time will tell.
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