N54bn video streaming market creating new opportunities

Ericsson’s ConsumerLab recently published its first-ever Television and Media Report for Nigeria, which indicated that Nigerians spent about N54bn on Video on Demand streaming in 2015.

The VoD is a system that allows consumers to select and watch abridged video content of their choice and on the spot on Personal Computers, tablets, smartphones and television, using Chrome.

The company stated that from a possible population of about 100 million people living in the country, findings from its study showed that only 27 per cent (27 million) of them stream videos.

Industry experts, therefore, estimated that if 27 million Nigerians yearly subscribed to iROKOtv, a leading video-streaming platform in the country, and other VoD platforms at N2,000 yearly Average Revenue Per User, they definitely spent about N54bn at the end of the year.

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