SBI Media Group has been officially ranked as Nigeria’s largest independent media agency and the second-largest media agency overall in the newly released RECMA Nigeria Overall Activity Ranking 2024. This impressive achievement further solidifies SBI Media’s leadership position within Nigeria’s media industry.

Notable Achievements and Ranking

According to the RECMA report, which is widely recognized as the authoritative source for media agency benchmarking and research, SBI Media holds an outstanding 16.3% share of the Nigerian media industry. This positions the agency ahead of global network competitors such as All Seasons Zenith, PHD, Carat, and iProspect, securing the #2 spot nationally.

Additionally, SBI Media has been recognized as the fastest-growing media agency in Nigeria over the past three years, boasting an astonishing 266% growth from 2021 to 2024. The agency achieved an 80% year-on-year growth in 2024, marking an exceptional trajectory with its activity volume more than tripling compared to three years ago.

Market Context and Performance

The 2024 RECMA ranking was influenced by recent economic shifts, including naira devaluation and exchange rate adjustments, which impacted the market. Despite these changes, SBI Media outperformed several top global network agencies, including All Seasons Zenith (#3), PHD (#4), and Carat MediaFuse (#5). Only MediaReach OMD ranked higher overall in the Nigerian market.

CEO’s Remarks on the Ranking

Rotimi Bankole, CEO of SBI Media Group, shared his thoughts on the agency’s recent ranking:

“The latest ranking by RECMA has further buttressed and accentuated the effectiveness of our 10-year strategic plan to build Africa’s global media and communication group with the most cutting-edge strategy, people, and technology that adds value to our partners and colleagues.”

He also highlighted the importance of collaboration with local, regional, and global partners to build strong, profitable, and responsible brands. Bankole expressed confidence in the agency’s ability to leverage the upcoming Artificial Intelligence (AI) supercycle, which is expected to have a significant impact on the industry.

Industry Context: Rebound in Advertiser Spending

The 2024 Nigerian media market witnessed a strong rebound in advertiser spending, driven by economic reforms such as the liberalization of the naira and the removal of fuel subsidies. Traditional media channels, including TV, radio, and print, regained significant traction among both local and multinational brands. This market shift provided SBI Media with the opportunity to not only defend its leadership position as Nigeria’s top independent media agency but also to emerge as the fastest-growing agency over the past three years.

Conclusion

SBI Media Group’s RECMA ranking as Nigeria’s largest independent media agency reinforces its leadership and remarkable growth trajectory. The company’s strategic vision, solid partnerships, and innovative approach have positioned it as a major player in Nigeria’s media industry. Moving forward, SBI Media is poised to continue its upward trajectory, leveraging emerging technologies like AI to further solidify its position in the evolving media landscape.