Guest Contributor | Nov 14, 2022 | 0
Digital grows media
After more than a decade of digital disruption, the African entertainment and media industry has entered a new landscape where it is no longer divided into distinct traditional and digital spheres, according to a report from PwC titled Entertainment and media outlook: 2015 – 2019 (South Africa – Nigeria-Kenya).
The Outlook forecasts that South Africa’s entertainment and media industry is expected to grow from R112.7 billion in 2014 to R176.3 billion in 2019, at a compound annual growth rate of 9.4%. Digital spend is expected to fuel the overall growth. South Africa’s Internet access market will rise rapidly from R32.5 billion in 2014 to R76.2 billion in 2019, far ahead of any other consumer spend category, making it the largest contributor to South Africa’s total entertainment and media revenue.
Vicki Myburgh, entertainment and media leader for PwC Southern Africa, said “This year’s Outlook shows consumer demand for entertainment, and media experiences will continue to grow, while migrating to video and mobile.”