SBI Media Group has been officially ranked as Nigeria’s largest independent media agency and the second largest media agency overall in the newly released RECMA Nigeria Overall Activity Ranking 2024, further cementing its leadership position in the nation’s media landscape.
According to the ranking published by RECMA, the world’s most authoritative media agency research and benchmarking organization, SBI Media holds a commanding 16.3 per cent share of the Nigerian media industry, outperforming several global network competitors to secure the #2 position nationally.
This year’s ranking also highlights SBI Media as the fastest-growing media agency in Nigeria over the last three years, with a remarkable 266 per cent growth between 2021 and 2024. The 2024 data shows the agency delivering an 80 per cent year-on-year growth, more than tripling its activity volume compared to three years ago, making it the most accelerated growth trajectory in the Nigerian market.
The RECMA report, which restates 2023 figures due to naira devaluation and exchange rate realignments, places SBI Media ahead of global network agencies.
Commenting on the announcement, Rotimi Bankole, CEO of SBI Media Group, said: “The latest ranking by RECMA has further buttressed and accentuated the effectiveness of our 10-year strategic plan to build Africa’s global media and communication group with the most cutting-edge strategy, people and technology that adds value to our partners and colleagues. This result is also an appreciation to our partners, stakeholders, colleagues across all the local and global markets where we operate.
“With the impending Artificial Intelligence (AI) supercycle and its ‘double-edged’ consequences on the industries we support and our ecosystem, we believe we are well prepared to work with our local, regional and global partners to build strong brands that are profitable and responsible to all audiences and markets.”
The Nigerian media market in 2024 experienced a strong rebound in advertiser spending, driven by major economic reforms including the liberalisation of the naira and removal of fuel subsidies. Traditional media such as TV, radio and press regained significant traction among both local and multinational brands.
Against this dynamic backdrop, SBI Media not only defended its leadership as Nigeria’s foremost independent media agency but also outperformed global networks to emerge as the fastest-growing agency in the country, both in 2024 and across the last three years, according to RECMA’s 3-year activity growth table.
