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AFRICA
AFRICA’ S ENTERTAINMENT AND MEDIA INDUSTRY
Africa’ s entertainment and media industry has entered a dynamic new phase – a third wave of convergence. As the mobile device cements itself as the pre-eminent source of the entertainment and media( E & M) experience, the most disruptive, forward-thinking companies are striving to create an integrated ecosystem suited to this consumer-driven dynamic. This is according to PwC, which has released a report entitled Entertainment and media outlook: 2018 – 2022: An African perspective.
ENTERS A NEW WAVE
B y 2022, total E & M revenue in South Africa is expected to reach R177.2 billion, up from R129.2 billion in 2017. Internet( access and advertising) is expected to grow at a compound annual growth rate( CAGR) of 11.3 % over the forecast period to reach R91.2 billion, up from R53.4 billion in 2017. Overall E & M growth will be less reliant on Internet access revenue as organic growth opportunities in Internet connections start fading towards the end of the forecast period.
The outlook is a comprehensive source of analysis and five-year forecasts of consumer and advertising spending across five countries( South Africa, Nigeria, Kenya, Ghana and Tanzania) and 14 segments: Internet, data consumption, television, cinema, video games, e-sports, virtual reality, newspaper publishing, magazine publishing, book publishing, business-tobusiness( b2b), music, out-of-home( OOH) and radio.
Vicki Myburgh, Entertainment and Media Leader for PwC Southern Africa said:“ It’ s clear we’ re in a rapidly evolving media ecosystem that’ s experiencing Convergence 3.0. In Convergence 3.0, the dynamics of competition are evolving while a cohort of
The pace of change isn’ t going to let up anytime soon.
ever-expanding super competitors and more focussed players strive to build relevance at the right scale.
“ The pace of change isn’ t going to let up anytime soon. New and emerging technologies, such as Artificial Intelligence and Augmented Reality, will continue to redefine the battleground.”
South Africa is set to see a strong CAGR of 7.6 % for consumer revenue to 2022, moving from R93.9 billion in 2017 to R135.7 billion. Beyond revenue from the Internet segment, there are many success stories, most notably video games, which will surpass books, magazines and B2B
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