As it continues to develop, the media industry in Nigeria is witnessing fast expansion while simultaneously encountering intense levels of competition. A renowned media intelligence firm known as P+ Measurement Services conducted an investigation into the best media performers in the Nigerian subscription-based streaming services, telecoms, and insurance industries during the second quarter of the year 2023.
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How the analysis gives a thorough perspective of each industry
This analysis attempts to present a thorough perspective of each industry’s media share by taking into consideration the developments in subscription-based streaming services, the expansion of the telecommunications sector, and the continuous performance of the insurance sector.
Over 1.3 million online publications in the local and global media space are monitored as part of the media analysis.
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These publications include blogs, news sites, forums, and digital media. Additionally, approximately 1,380 print publications (including daily, weekly, and monthly publications) are tracked and monitored as part of the media analysis. Various meta-data are extracted from these publications.
Netflix Nigeria emerged as the top performer out of the five brands that were monitored in the Nigerian subscription-based streaming business. They captured a significant media share of 47%, followed by Amazon Prime Video and Showmax Nigeria with 29% and 24% respectively.
In the field of telecommunications in Nigeria, there was a highly competitive landscape with a number of important competitors.
The two brands that performed the best in the media out of the five that were monitored were MTN Nigeria and Airtel. Both of these brands captured thirty percent of the total media share, which earned them the top spot. Globacom was able to secure 25%, while 9Mobile only managed 15%.
Five insurance companies stood out as top media performers among the 10 biggest insurance brands that were watched. Leadway Assurance maintained its position as the top performer in Q2, capturing 39% of the media share.
AIICO Insurance finished in second place with 19% of the vote, AXA Mansard Insurance came in third place with 18% of the vote, NEM Insurance came in fourth place with 15% of the vote, and Mutual Benefits Assurance received 9% of the vote.
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Analysis of the most important reputational drivers in the second quarter of 2023
Notable media drivers in the subscription-based streaming services sector in Nigeria during the second quarter included Netflix Nigeria’s novel technique of recreating folktales alongside African filmmakers in order to transform them into dark fantasy dramas. With Jade Osiberu’s ‘Gangs of Lagos’ hitting a new record, Amazon Prime Video was able to accomplish a major company goal and reach a significant new milestone.
In addition, Showmax Nigeria teamed with Upbeat to throw a unique screening party for children on Children’s Day. At the event, the kids got to hang out with Jay Jay Okocha, who was one of the stars of the movie.
During the time period in question, the Nigerian telecommunications industry was witness to a number of key PR drivers. MTN Nigeria’s success in obtaining approval from the Nigerian Communications Commission to lease NTEL’s spectrum was an important development that had a significant impact on the industry. This was a noteworthy event. The hiring of Carl Cruz as MD/CEO of Airtel Nigeria brought about a rise in the company’s brand recognition as well as an improvement in its reputation. In a similar vein, Globacom’s Chief Executive Officer Mike Adenuga celebrated his 70th birthday, which brought the company’s attention and coverage from the media.
In addition, 9Mobile made news after announcing a significant N70 billion investment in network upgrades, which drove the company’s presence and impact in the market.
A substantial amount of attention was gathered by the accomplishment of a ground-breaking milestone by Leadway Assurance. Leadway Assurance was the first insurer in the insurance business to achieve N100 billion in premium income. The remarkable demonstration of Corporate Social Responsibility that was put on show by AIICO Insurance was the company’s decision to invest in the healthcare business.
The first three months of the year saw impressive growth in revenue of 13% for AXA Mansard Insurance, which contributed to an elevated degree of media engagement for the brand. During the fiscal year ending in 2022, NEM Insurance paid out a sizeable amount totalling N12.3 billion in claims. This action was taken to emphasise the company’s dedication to its policyholders.
In addition to this, Mutual Benefits Assurance was present for the launch of Dr. Akin Ogunbiyi’s book, where he shared with the younger generation the necessity of leaving a good first impression and provided helpful insights.