- Last year, Nigerian millennials chose cinemas over Netflix as the preferred source of entertainment.
- However, young people spent their money more frequently on Netflix than Silverbird Cinemas.
- Their counterparts, Kenya millennials, prefer video streaming platforms like ViuSasa and Netflix to cinemas.
Nigerian millennials spent more on cinemas than Netflix in 2018
Data from REACH show that young people still prefer movie theatres to streaming services.
REACH, a personal finance app, has released its 2018 report - "Kenya Vs. Nigeria, 2018 Year In Review."
After analysing mostly young African consumers, the report found that Nigerian millennials chose cinemas over Netflix last year. They preferred spending their money at cinemas to subscribing to the streaming platform.
The review showed that the preferred top three sources of entertainment for people between the ages of 28 to 34 last year were;
- FilmHouse Cinemas
- Genesis Deluxe Cinemas
Despite choosing movie theatres over streaming, Nigerian consumers were extremely picky about which cinemas they went to.
The millennials surveyed for the review spent their money more frequently on Netflix than Silverbird Cinemas, making the latter the least prefered source of entertainment for Nigerian moviegoers.
Among Kenyan millennials, the reverse is the case as the survey showed that video streaming platforms like ViuSasa and Netflix have displaced Century Cinemax and Multichoice.
Here is a list of the top 10 things Nigerian millennials spent their money on in 2018:
- Bills and utilities - GTB is the bank of choice for millennials for bills, utilities and bank charges.
- Bank charges
- ATM - First Bank is the top vendor here.
- Transfer - GTB was used the most for transfers.
- Transport - Young Nigerians spent more on taxi transactions (Uber and Taxify) than gasoline purchases at filling stations. This is unlike their Kenya counterparts who spent more at filling stations.
- Restaurants - Chicken Republic leads here, followed by Dominos, The Place, Tastee Fried Chicken and Kilimanjaro.
- Grocery - Young Nigerians spent most of their money at Shoprite.
- Online shopping - Paystack is the leading biller.
- Betting - This is in contrast to Kenya where online betting is the number one occurring transaction in 2018.
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