Africa’s Expanding Entertainment And Media Industry

Africa’s Expanding Entertainment And Media Industry

The Entertainment and Media (E&M) sector across South Africa, Nigeria, and Kenya is proving to be resilient and adaptive in a time when global economic uncertainties are putting pressure on numerous markets.

This positive trend is outlined in PwC’s newly launched Africa Entertainment and Media Outlook 2024–2028 report, which reveals that these leading African markets are flourishing with revenue growth that outpaces the global average projected at a Compound Annual Growth Rate (CAGR) of 3.9% through 2028.

According to the report, South Africa is the most developed E&M market on the continent, but with a slower growth forecast of 4.2% CAGR until 2028.

According to PwC, the anticipated rise in consumer access to stable internet, bolstered by 5G adoption, is likely to drive this growth.

Increased uptake of internet packages and investment in reliable mobile and fixed infrastructure will drive sector growth in Africa over the next five years, enabling more consumers to access E&M products and services.

As internet access expands, businesses will need to focus on digital transformation, leveraging social media and mobile platforms to engage Africa’s young demographic with personalised, data-driven advertising. This digital shift will also boost content production in over-the-top (OTT) streaming services, and music, with an emphasis on localisation and cultural representation to attract both local and global audiences.

Nigeria is one of the fastest-growing E&M markets globally, with a striking CAGR of 8.6%. Key segments for growth in Nigeria encompass internet advertising, video games and esports, and music, radio, and podcasting, with internet advertising revenue predicted to more than double by 2028.

Kenya, though the smallest market among the trio, is projected to register a robust growth rate of 5.2% CAGR, positioning its E&M landscape as a significant player as well. Its internet advertising market is set to grow at an astounding CAGR of 17.4% through 2028, highlighting a rapidly increasing appetite for digital engagement.

The report underscores the evolving nature of consumer consumption in the E&M space, predominantly driven by live events, gaming, and OTT. Live music events are gathering momentum across Africa, while ticket sales in Nigeria and Kenya have surpassed pre-pandemic figures.

Gaming is another vibrant segment, with South Africa at the forefront of Africa’s esports landscape. Mobile gaming dominates due to accessibility issues surrounding consoles and PCs.

Efforts in South Africa, such as collaborative ventures to enhance local game offerings, and Nigeria’s structured support for esports, show significant promise.

Kenya remains unique with traditional gaming still outperforming casual gaming, although this gap is expected to narrow thanks to improving connectivity and the proliferation of smartphones by 2028.

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