‘Why businesses must evolve with technology’
According to the report, there have been changes in 2018 trends compared to 2017, which include Cola wars led to early on-slaught between Coke and Pepsi 2018.
Noodles industry acquisition led to a monopoly Indomie resulting in reduced media spend. Also, Lifestyle trends driving increased spend for Google and FinTech and consumer banking driving banking sector competition.
The report states, “The global phenomenon of programmatic is becoming evident in Nigerian media particularly in TV and Out Of Home (OOH) landscape. More marketing professionals will have to adequately equip themselves to navigate this new wave of media buying technique.”
On growth of digital media, the advertising guide states that active social media users increased by two million from 2017 as a result of more active mobile social media users accounting for 89.5 per cent, despite the fact that Nigerian internet users population dropped by 2.5 to 94.8 per cent in 2018 due to decline in purchasing power of Nigerians.
It pointed the economic potential of over 60 per cent of Nigerians being 24 years and below.
The report also states that TV and radio penetration have reached a peak in the country and that any more opportunity of growth for these traditional platforms lie in digital platforms.
Speaking at the launch of the report in Lagos, Chief Operating Officer, Starcom Media Perspectives, Mr. Jude Odia, said this year’s report went beyond the boundary of gathering facts but added insights and intelligence to help media planners, advertisers and other stakeholders do their job effectively.
Odia pointed out that the report has also been deployed as an application and interested stakeholders could download it on Google Play store as NMAG on their Smartphones, adding, “The reason is simple and it is because internet penetration is high in Nigeria. Nigeria has over 180 million people.
So, why leave this kind of valuable information in a hard copy that people may largely or relatively not read. Get it to a platform where it becomes an integral part of them and they can easily access it and it will be useful to them.”
Speaking in the same vein, Head, Digital Services, Starcom Media Perspectives, Mrs. Ose Osundeko, said deploying the report in the form of an app became very necessary due to the inability of most stakeholders to grab a copy of the previous edition of the report.
Osundeko noted that the report was essentially released to help stakeholders within and outside the integrated marketing communications industry gets insights about the times and trends of what is happening within the media landscape. She encouraged all to download the app for easy access to information.
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