NIGERIAN SPEND OVER 54BILLION NAIRA TO WITCH VIDEO ON THE INTERNET

By the end of 2015, Nigerians would have spent about N54bn on Video on Demand streaming, Ericsson’s ConsumerLab has said in its first ever Television and Media Report.

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.
The company stated that from a possible population of about 100 million people living in the country, its findings showed that only 27 per cent (27 million) of them streamed videos.
Industry experts had estimated that if 27 million Nigerians yearly subscribed to
iROKOtv , a leading video streaming platform in the country, and other VoD platforms at N2,000 yearly Average Revenue Per User, they would have spent about N54bn at the end of the year.
Ericsson said in the report that the figure should have been higher but for the poor data service from telecommunications companies in the country.
“Only 27 per cent of Nigerians stream videos for now because of the inflexible data plans and slow download speeds flagged as reason for low video streaming uptake,” it said in its report.
It, however, predicted that the figure would rise in 2016, given that “changing consumer needs were fast creating a new TV and video landscape in Nigeria.”
The Managing Director, Ericsson Nigeria, Johan Jemdahl, said the figure would rise because TV and video content consumption was no longer tied to the traditional TV screen.