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Nigerians Spent N2bn On Video Streaming In 2014 - Science/Technology - Nairaland

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Nigerians Spent N2bn On Video Streaming In 2014 by stam101(m): 1:24am On Feb 04, 2015
The seeming high cost of subscription for pay television
and the lack of leisure time to watch long movies have been identified as reasons for the rising interest of Nigerians in Video on Demand streaming.

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.

Aside high net worth Nigerians, it was discovered that workers, businessmen and even technology-savvy students spent over N2bn on video streaming subscription last year, going by the subscriber base of online streaming platforms in the country.

[img]http://t3.gstatic.com/images?q=tbn:ANd9GcRZK7-FSbheYPQd-CynyDzYaEte_IEebu1e7crO_of7kT0d-7ilPHA9Tg[/img]

Of this amount, it was estimated that iROKOtv, a leading video streaming platform in the country, earned over N1bn from not less than 500,000 Nigerian subscribers at N2,000 yearly Average Revenue Per User.

The other platforms, AfriNolly, DoBox, 9fix, IbakaTV and RealNolly, among others, are said to have raked in about N1bn from almost one million subscribers at between N150 and N200 monthly subscription per user.
[img]http://t0.gstatic.com/images?q=tbn:ANd9GcSbFVxksyc8zwxbu7MdXl1Dm7rR_zI_EFlfKLwlSCEDMJZzU_XdS7OaUOU[/img]

Away from Nigeria, iROKOtv is reputed to boast of about one million subscribers in 78 countries.

The African revenue, especially in Nigeria, with its massive population, is expected to increase by the end of this year, according to the latest Consumer Lab annual report released by telecommunications equipment manufacturer, Ericsson.

The Senior Advisor, Consumer Insights, Ericsson, Rebecka Angstrom, said, “The about N2bn being estimated to have been made in 2014 from video streaming in Nigeria is still a far cry from what would be made by 2015 ending given the high population in the country, which is still growing, and more so, the yet untapped opportunities in the market.”

Angstrom spoke at a video conferencing session with our correspondent in Lagos.

She added, “It is projected that by 2020, the Gross Domestic Product on video streaming in Nigeria will rise and provide not less than one million job opportunities across the lines – as the number of movies being produced will increase and the number of VoD platforms in the country will triple.”

According to her, what is being spent on video streaming platform subscription in a year is not up to four per cent of what is spent on pay TV annually, adding, “So, viewers have now learnt how to save money by gradually adapting to video streaming and patronising VoD platforms.”

She added that since Nigerians were too busy “chasing money” and have little or no time for relaxation, even after they must have spent a fortune on pay TV subscription, the VoDs came in handy since one could view them on the spot.

“They (Nigerians) could watch a video on their devices from their offices, during spare times when not at home, and even in the traffic in a place like Lagos, or while on the move. More so, viewers are currently shifting towards easy-to-use on-demand services that allow cross platform access to video content,” Angstrom noted.

A subscriber and Lagos-based banker, Mrs. Patricia Oduh, attributed the increasing expenditure on VoDs to the growing lack of ingenuity on the part of pay TV platforms.

She said, “The movies and programmes on pay TV are unnecessarily long and most people don’t have the time to spend on such; so, we eventually have a case where what we pay to the likes of DSTV, StarTimes etc., are not fully optimised. But with video streaming, the movies are condensed and made more interesting, and can be viewed on the spot.

“Also, the pay TV platforms repeat movies often and that gets one tired. I spend N7,800 monthly subscribing to pay TV, which is N93,000 annually; but with the VoDs, I spend just about N2,000 yearly and you have a variety of movie options at your disposal.”

The Chief Executive Officer of iROKOtv, Jason Njoku, said the company’s vision was to have one million subscribers in the country by 2020, adding, “If we can reach that number, then iROKO will be a billion dollar company. We simply target $1bn. That is what I believe Nollywood, Nigeria and West Africa deserves.

“As a billion dollar media and technology company, we curate and export Nigerian culture globally. The industry now needs us as much as we need them.”

Perhaps because of the enormous opportunities in the market, telecommunications company, MTN acquired AfriNolly and DoBox. Both are said to pose stiff competition to iROKOtv.

The Public Relations and Protocol Manager, MTN Nigeria, Mr. Funso Aina, said, “The MTN DoBox and AfriNolly came as a game changer to the movie industry in Nigeria. Those who place premium value on watching movies on-the-go through the use of cutting-edge technology have been adopting it significantly since it was launched.”
http://www.punchng.com/business/technology/nigerians-spent-n2bn-on-video-streaming-in-2014/

2 Likes

Re: Nigerians Spent N2bn On Video Streaming In 2014 by felixchip(m): 2:38pm On Feb 04, 2015
This is... I just don't know.
But, it shows the increase in demand of pictures.

Not a bad one.
Re: Nigerians Spent N2bn On Video Streaming In 2014 by ureyolslfj: 10:41am On Feb 05, 2015
kis
Re: Nigerians Spent N2bn On Video Streaming In 2014 by pat077: 10:41am On Feb 05, 2015
ok
Re: Nigerians Spent N2bn On Video Streaming In 2014 by Trending(m): 10:41am On Feb 05, 2015
and N1.9bn out if it was spent on porn tube..naija and badt tinz

mhurdyifyeid

yoga u can't tell me porn tube is not on d list?

5 Likes

Re: Nigerians Spent N2bn On Video Streaming In 2014 by eazysmiles: 10:41am On Feb 05, 2015
okay
Re: Nigerians Spent N2bn On Video Streaming In 2014 by Nobody: 10:42am On Feb 05, 2015
Mostly P**n websites I imagine

1 Like

Re: Nigerians Spent N2bn On Video Streaming In 2014 by tdayof(m): 10:42am On Feb 05, 2015
Choi see money...
Re: Nigerians Spent N2bn On Video Streaming In 2014 by eemalex(m): 10:42am On Feb 05, 2015
PORN!!!!

2 Likes

Re: Nigerians Spent N2bn On Video Streaming In 2014 by KidProgrammer(m): 10:42am On Feb 05, 2015
Hmm..FEBUHARI
Re: Nigerians Spent N2bn On Video Streaming In 2014 by SeverusSnape(m): 10:42am On Feb 05, 2015
Especially that of patience Jonathan... "there is God"

3 Likes

Re: Nigerians Spent N2bn On Video Streaming In 2014 by Nobody: 10:43am On Feb 05, 2015
I wonder what we stream.
Re: Nigerians Spent N2bn On Video Streaming In 2014 by Nobody: 10:43am On Feb 05, 2015
eemalex:
PORN!!!!

Speaking from Experience?

2 Likes

Re: Nigerians Spent N2bn On Video Streaming In 2014 by tdayof(m): 10:43am On Feb 05, 2015
SeverusSnape:
Ho
I catch you today grin

1 Like

Re: Nigerians Spent N2bn On Video Streaming In 2014 by bissy93: 10:43am On Feb 05, 2015
alryt
Re: Nigerians Spent N2bn On Video Streaming In 2014 by KidProgrammer(m): 10:43am On Feb 05, 2015
speak2emmalex:
T
T For Toy
Re: Nigerians Spent N2bn On Video Streaming In 2014 by UnknownT: 10:43am On Feb 05, 2015
How much was spent streaming porn sites?grin
Re: Nigerians Spent N2bn On Video Streaming In 2014 by kingjaja23(m): 10:45am On Feb 05, 2015
The telecommunications people are robbing us more than we imagine....let us boycott them till they reduce subscription prices!
Re: Nigerians Spent N2bn On Video Streaming In 2014 by SeverusSnape(m): 10:45am On Feb 05, 2015
tdayof:
I catch you today grin
Hehehehehehehehehehehehehehehe...
Guy you really got me. grin grin
Re: Nigerians Spent N2bn On Video Streaming In 2014 by Jabioro: 10:46am On Feb 05, 2015
Hw much is that? Compare 2 d amount our Clueness leaders spent unacounted for.

1 Like

Re: Nigerians Spent N2bn On Video Streaming In 2014 by john403: 10:49am On Feb 05, 2015
Nigeria media industry is fast growing





Two die in Ibadan soak away
Source: http://www.e reporter.com.ng/index.php/more-news/odd-news-reports/item/3021-two-die-in-ibadan-soak-away

1 Share

Re: Nigerians Spent N2bn On Video Streaming In 2014 by frodobee: 10:50am On Feb 05, 2015
This market is virgin.

1 Like

Re: Nigerians Spent N2bn On Video Streaming In 2014 by Nobody: 10:50am On Feb 05, 2015
I even watch porn
Re: Nigerians Spent N2bn On Video Streaming In 2014 by watered(m): 10:50am On Feb 05, 2015
...And how much did NASS and Presidency spend on entertainment?









Vote Cluelessness out
Re: Nigerians Spent N2bn On Video Streaming In 2014 by seedorfg(m): 10:53am On Feb 05, 2015
I BLAME GEJ
Re: Nigerians Spent N2bn On Video Streaming In 2014 by cycline404(m): 10:56am On Feb 05, 2015
Vg
Re: Nigerians Spent N2bn On Video Streaming In 2014 by Nobody: 11:00am On Feb 05, 2015
Gay porn grin

2 Likes

Re: Nigerians Spent N2bn On Video Streaming In 2014 by DONMAYOR19(m): 11:00am On Feb 05, 2015
watered:
...And how much did NASS and Presidency spend on entertainment?









Vote Cluelessness out
I pity your life. how this one take concern NASS now? GOAT!!!

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