Ventures Africa an online platform that tells stories about an evolving Africa, has released a new edition of its business magazine, Ventures Africa BizHive. The magazine covers news analysis and discussions around entrepreneurship, evolving business trends and innovations around Africa.
The latest issue, titled ‘The New Wave of Nigeria’s Soft Power’, explores the sharp-rising entertainment business in Nigeria and how it is shaping the country’s future.
Entertainment is big business all over the world. In 2022, the media and entertainment market reached $2.32 trillion in valuation, up by 5.4%. Several countries use this medium to generate money, export their culture and gain soft power. And in Africa, Nigeria is leading this movement.
The creative sector, which includes entertainment and media, is Nigeria’s second-largest employer of young workers today, according to Jobberman. By 2025, it should have created 2.7 million more jobs, according to their 2021 predictions.
In this issue, Ventures Africa spoke with several industry leaders across the music, film-making, and content creation arms of entertainment, exploring their stories, success strategies and market insights. It also highlights the growing impact of technology in the evolution of Nigerian entertainment and the shift towards globaliZation.