…Q2 2023 Edition: Subscription-based Streaming Services, Telecommunication Brands, and Insurance Companies Media Performance Analysis Report, courtesy P+ Measurement Services
The Nigerian media sector is experiencing rapid growth and facing strong competition as it continues to evolve.
P+ Measurement Services, a leading media intelligence consultancy, analyzed the top media performers in the Nigerian subscription-based streaming services, telecommunications, and insurance sectors for the second quarter of 2023.
This analysis aims to provide a comprehensive overview of each industry’s media share, considering the advancements in subscription-based streaming services, the telecommunications sector’s expansion, and the insurance sector’s consistent performance.
The media analysis monitors over 1.3 million online publications in the local and global media space, including blogs, news sites, forums, and digital media, as well as approximately 1,380 print publications (including daily, weekly, and monthly publications), from which various meta-data were harvested.
In the Nigerian subscription-based streaming industry, Netflix Nigeria emerged as the top performer, out of the five brands monitored, capturing a significant media share of 47%, followed by Amazon Prime Video and Showmax Nigeria with 29% and 24% respectively.
The Nigerian telecommunications industry saw a competitive landscape with several key players.
The top media performers, out of the five brands monitored, in terms of media share: MTN Nigeria and Airtel tied for the top position, each capturing 30% of the media share. Globacom secured 25% and 9Mobile 15%.
Out of the ten leading insurance brands monitored, five insurance companies stood out as top media performers, with Leadway Assurance maintaining its position as the top performer in Q2, capturing 39% of the media share.
Coming in second was AIICO Insurance with 19%, AXA Mansard Insurance ranked third with 18%, NEM Insurance came in fourth with 15%, and Mutual Benefits Assurance with 9%.
Analysis of Top Reputational Drivers in Q2, 2023
During the second quarter, noteworthy media drivers in the subscription-based streaming services sector in Nigeria included Netflix Nigeria’s innovative approach of reimagining folktales with African filmmakers, transforming them into dark fantasy dramas. Amazon Prime Video achieved a significant milestone for the brand with Jade Osiberu’s ‘Gangs of Lagos’ setting a new record.
Additionally, Showmax Nigeria collaborated with Upbeat to host a special screening party for children on Children’s Day, where they had the opportunity to hang out with Jay Jay Okocha.
The Nigerian telecommunications industry witnessed several significant PR drivers during the period. One noteworthy development was MTN Nigeria’s securing approval from the Nigerian Communications Commission to lease NTEL’s spectrum, which greatly influenced the industry. Airtel Nigeria experienced a boost in its brand recognition and reputation following the appointment of Carl Cruz as MD/CEO. Similarly, Globacom garnered attention and media coverage as Chief Executive Officer Mike Adenuga celebrated his 70th birthday.
Furthermore, 9Mobile made headlines with its announcement of a substantial N70 billion investment in network modernization, driving its presence and impact in the market.
Leadway Assurance garnered significant attention by achieving a groundbreaking milestone as the first insurer to surpass N100 billion in premium income within the insurance sector. In a notable display of Corporate Social Responsibility, AIICO Insurance directed its investments toward the healthcare industry.
AXA Mansard Insurance experienced remarkable growth of 13% in revenue during the first quarter, contributing to an increased level of media engagement for the brand. NEM Insurance demonstrated its commitment to policyholders by disbursing a substantial sum of N12.3 billion in claims during the 2022 financial year.
Additionally, Mutual Benefits Assurance witnessed Dr. Akin Ogunbiyi, the chairman, offering valuable insights to the younger generation about the significance of making favorable first impressions during the launch of his book.
The Q2 2023 #StreamingServices and #Insurance #Telecommunication Media Performance Audit Report is available here.
