The pervasive integration of digital media into daily life is reshaping how individuals encounter and internalize harmful contents. Unrestricted access exposes students to emotionally disruptive materials, including depictions of violence, substance use, and harassment, raising concerns about its impact on well-being. This study examines a serial mediation model linking antisocial media exposure to subjective well-being (SWB) through school-based victimization as sequential pathways. Using data from 326 high school students in Nigeria, we applied partial least squares structural equation modeling to test hypothesized relationships. Results indicate that antisocial media exposure was not directly associated with SWB but significantly predicted experiences of teacher and peer victimization. Peer victimization mediated the relationship between antisocial media exposure and SWB (β = −0.023, 95% CI: [−0.054, −0.004], p < 0.05). Furthermore, antisocial media exposure increased the likelihood of teacher victimization, which facilitated peer victimization, ultimately compromising SWB (β = −0.030, 95% CI: [−0.058, −0.011], p < 0.05). Effects varied by gender and academic level, underscoring intersectional risks linked to media exposure. Findings highlight the need for targeted interventions addressing both teacher and peer victimization in resource-constrained educational contexts.