The Nigerian music industry has been described as the biggest in the continent of Africa and predicted to surpass $8 billion by 2019.
According to Media reports, PriceWaterhouseCoopers (PWC), a leading auditing and financial firm, the Nigerian entertainment and media market was positioned to achieve that mark.
The statement was made by CNN on a recent edition of the media house’s CNN Marketplace Africa show tagged “Nigeria’s Booming Music Industry“.
The program examined the Nigerian music industry from interviews with Mike Ugwu, GM Sony Music West Africa, Ademola Odundele, Ovie Ofughara of NotJustOk, and DJ Cuppy.
This same set of people had, earlier in the year, been part of a panel dedicated to the Nigerian music industry at this year’s SXSW Music Film Interactive, held in Austin, Texas, in March which touted the Nigerian music industry as the biggest on the African continent with millions of dollars in revenue.