Marketing Strategy and Revenue Diversification of Nigerian Television Broadcasting Firms

This study investigates the relationship between marketing strategy and revenue diversification among television broadcasting firms in Nigeria. The Nigerian broadcasting industry has faced declining advertising revenues from traditional free-to-air models as digital media platforms compete for audience attention and advertiser budgets. The research targets marketing directors, business development managers, and content strategy officers of eight television broadcasting companies operating in Lagos, Abuja, and Kano. A total of 80 respondents were selected through purposive sampling. Questionnaires measuring marketing strategy dimensions and revenue stream diversity indicators were administered. Analysis combined descriptive statistics and regression analysis. Findings indicate that broadcasters adopting multi-channel content distribution strategies, including streaming platform partnerships, social media syndication, and on-demand content services, achieve significantly greater revenue diversification outcomes than those relying exclusively on terrestrial broadcast advertising. The study finds that branded content and event sponsorship strategies contribute measurably to revenue diversification when supported by digital audience data analytics. Viewer data monetization, while nascent in Nigeria, is identified as an emerging high-potential revenue diversification avenue. The research concludes that Nigerian television broadcasters must adopt aggressive marketing strategy diversification to remain commercially viable in an increasingly fragmented media landscape. Keywords: marketing strategy, revenue diversification, television broadcasting, Nigeria, digital media.