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PricewaterhouseCoopers forecasts 2016-2020 Entertainment & media outlook for Nigeria, S. Africa, Kenya

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The Internet, video games, television, and filmed entertainment segments of sub-Saharan Africa’s entertainment and media industry are projected to continue to grow in the following years but the publishing industry is having to work very hard to make any headway, according to PwC’s Entertainment and media outlook: 2016 – 2020 report (South Africa – Nigeria – Kenya) released today. Despite a relative slower growth projection for the industry, the Outlook forecasts that South Africa’s entertainment and media industry is expected to grow from R125.7 billion in 2015 to R173.3 billion in 2020, at a compound annual growth rate (CAGR) of 6.6%.

“In spite of widespread disruption in the entertainment and media industry, as well as intense competition for consumer attention, there are growth opportunities aplenty for companies to capitalise from in the new media landscape,” says Vicki Myburgh, Entertainment & Media Industry Leader for PwC Southern Africa.

Digital spend is expected to drive the overall growth. South Africa’s Internet access market will rise from R39.4 billion in 2015 to R68.5 billion in 2020, as broadband – both fixed and mobile – becomes an essential utility.  “Although the forecast CAGR of 11.7% is lower than previously predicted, this still makes Internet access by far the largest contributor to total E&M spend,” adds Myburgh.

The Outlook presents annual historical data for 2011 – 2015 and provides annual forecasts for 2016 – 2020 in 11 entertainment and media segments for South Africa, Nigeria, and Kenya: the Internet, television, filmed entertainment, video games, business-to-business publishing, recorded music, newspaper publishing, recorded music, magazine publishing, book publishing, out-of-home-advertising and radio.

Aside from the Internet, the Outlook predicts that growth will also be seen in the video game market, filmed entertainment and television segments. “As Internet revenue continue to rise, the forecast for newspaper and magazine circulation is on the decline as consumers migrate from print copies to free online alternatives – and aren’t as yet moving to paid digital formats in great numbers,” says Myburgh.

South Africa has the largest TV market in Africa and continues to grow strongly, with pay-TV subscription revenues expected to expand by a 5.0% CAGR to reach R25.2 billion in 2020. The video game market is also performing well and revenue is forecast to grow at a CAGR of 5.6% to reach R3.7 billion in 2020, up from R2.8 billion in 2015. Social/casual gaming revenue overtook traditional game revenue for the first time in 2015 and is expected to be the key growth area over the next five years, exceeding R2 billion by 2020.

Alongside video providers, the B2B market will be a strong source of revenue for South Africa’s entertainment and media industry over the next five years. The amount of data that businesses are using for decision-making is increasing, and the tools used to access the information are increasingly cloud-based with more and more users gaining access via mobile handsets. The market is forecast to grow at a 4% CAGR to reach just under R11.6 billion in 2020.

By contrast, the newspaper market in South Africa is expected to be R1 billion smaller than in 2015. In 2015 total newspaper revenue was worth R9.1 billion, but this figure will drop to R8.1 billion in 2020.  Circulation figures are also forecast to start declining, as price rises are unable to compensate for the declining numbers of copies sold.

By the same note, South Africa’s consumer’s magazine market is also forecast to see a decline in later years. A growing number of South Africans are accessing magazine content and websites via their smart devices, but the boom in smartphone and tablet ownership will be the biggest driver for digital magazine revenue growth over the forecast period.

Although physical music continues on its downward trajectory, it is streaming revenue that will be responsible for keeping recorded music revenue from large falls. Digital music streaming revenue is forecast to rise from R74 million in 2015 to R437 million in 2020.

The report shows that South Africa’s total entertainment and media advertising revenue is expected to rise from R43.4 billion in 2015 to R53 billion in 2020, a CAGR of 4.1%, with only newspaper advertising revenue forecast to take a downward turn. TV advertising continues to dominate the market, but Internet advertising is combining scale with a great pace of expansion, and will become the second-largest contributor to revenue by 2020.

Myburgh says: “Entertainment and media companies are facing an ever more challenging and complex environment. Companies need a more detailed understanding than ever before of the various forces at play at a local level. Armed with such insights, both established and emerging players are well-positioned to capitalise on the industry shifts and lead the next phase of growth.”

Nigeria

Nigeria has one of the fastest-growing markets in the entertainment and media industry. In 2015 it saw 15.7% growth to reach US$3.8 billion, and with all segments forecast to rise over the forecast period, an 11% CAGR is anticipated. Internet advertising will see the fastest growth over the forecast period, and will come predominantly in formats designed for mobiles, in keeping with the prevailing method of Internet access in the country. TV advertising is also benefitting from strong economic growth and an emerging middle class with a higher disposable income.

Kenya

Kenya’s total entertainment and media industry was worth US$2.2 billion in 2015 and is expected to be worth US$3.3 billion by 2020. Internet access again will be the main contributor, if not as dominant in Kenya as in Nigeria, accounting for 43% of the total market in 2020.

Five key shifts emerge amid the continuing disruption

As these high-level trends play out, our research has pinpointed key shifts occurring in each of five dimensions of the entertainment and media landscape: demography, competition, consumption, geography, and business models. Simultaneous and interrelated, these five shifts influence and play off one another. They should serve as a serious call to action for both industry incumbents and new entrants to seek out growth opportunities in markets worldwide.

Shift 1. Demography: Youth will be served

Our analysis of national entertainment and media markets globally reveals an almost perfect correlation between the relative size of the under-35 population and growth in entertainment and media spending—confirming that younger consumers are now the primary drivers of global growth. Our analysis of total entertainment and media revenue growth in the world’s 10 youngest and 10 oldest markets in demographic terms reveals that, on average, entertainment and media spending in the 10 youngest markets is growing three times as rapidly as in the 10 oldest markets.

Shift 2. Competition: Content is still king

In a world where Netflix can launch in 130 new countries in a single day, it’s easy to assume that content is becoming more globally homogeneous. But the reality is that content is being redefined by forces of globalisation and localisation simultaneously—and that while much of the industry is growing more global, content tastes and cultures remain steadfastly local.

Shift 3. Consumption: The joy of bundles

The ability for consumers to design and curate their own media diet has been one of the most powerful trends to emerge in the industry. But the bundle is far from dead, with video and cable incumbents—which were initially slow off the mark—now fighting back by offering their content on an integrated omnichannel basis, on TV, laptop, tablet, and smartphone. As take-up of these new-style bundles grows, we believe the bulk of digital OTT mass-market services will gradually be reabsorbed into aggregated offerings that will echo the traditional analogue-style bundle, but that will be more flexibly priced and available on a full range of devices. When this happens, the competitive battle may move up a notch, as cable, technology, and telecom players fight over gaining access to distribution.

Shift 4. Geography: Growth Markets

Generally, entertainment and media companies had one set of expectations about developed markets (slow growth, low regulation, easier to access) and another about developing markets (rapid growth, high regulation, harder to access). But the dynamics are shifting rapidly as disruption pushes markets to develop in different ways, meaning “opportunity” economies—even within the same region—can display significantly varied growth patterns.

Shift 5. Business models: Transforming with trust

Today’s entertainment and media market includes technology companies racing to become hybrid content companies, and traditional publishers evolving the other way to emerge as hybrid technology companies. This underlines how the growth of technology and digitisation is acting as a centrifugal force—breaking up existing relationships; pushing large, generalist entities to give way to smaller specialists; and allowing smaller, nimble competitors to beat out incumbents. For incumbent advertising agencies, this opens up an opportunity to reorient themselves to become invaluable to markets, by bringing together programmatic capabilities, analytics, data aggregation, and native content to create the new “super” agency.

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#ITISPOSSIBLE! John Mahama, JOSPONG, Duffour Jnr. pick up first copies of Bola Ray’s bio

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Ex -president John Dramani Mahama, JOSPONG Group CEO Joseph Siaw Agyepong, and UniBank CEO Dr. Kwabena Duffuor II are among the first to secure copies of media mogul Bola Ray’s biography “It Is Possible”.

Dr. Duffour purchased the book for a whopping GHC100,ooo, while ex-president Mahama is said to have secured his copy for an undisclosed amount. The JOSPONG boss also bought hs for GHC 50, 000. Other early birds include William Asiedu (Managing Editor – Daily Heritage), and Mr. Ofori Boateng.

Reggae/ Afrobeats singer Eboo, Stonebwoy, and Bronya duo Wutah have all performed at the ongoing event.

Authored by journalist Obed Boafo, the book (titled “It Is Possible”) details the media mogul’s life over four decades, as well as his journey to becoming one of the country’s foremost business persons. It was written over 2 years.

Copies of the book can be purchased via bolaray.com

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#ITISPOSSIBLE! Bola Ray Book Launch Underway!

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The widely-anticipated launch of media mogul Bola Ray (Nathan Kwabena Anokye Adisi (Bola Ray) is currently underway at the La Palm Royal Beach Hotel.

Compered by veteran broadcaster Kwame Sefa Kayi, it was kicked off with a prayer from motivational speaker/ preacher Rev. Albert Ocran.

Several of society’s most prominent faces across various spectrums of society have converged at the venue for this landmark event.

Respected traditional ruler and academic Nana Kwabena Nketia V is the chairman for the event.

Authored by journalist Obed Boafo, the book (titled “It Is Possible”) details the media mogul’s life over four decades, as well as his journey to becoming one of the country’s foremost business persons. It was written over 2 years.

Joining radio while still in university, Bola Ray has grown to become an authority not just in radio broadcasting, but in the entertainment industry as a whole. He joined Accra-based Top Radio after university and went on to The Multimedia Group, where he served a variety of roles, mainly hosting Drivetime on Joy for 11 years. For the past two years, he has been host of Starr Chat and co-host of Starr Drive, aside being head of the EIB Network and the Empire Group. 

Copies of the book can be secured via bolaray.com

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#ITISPOSSIBLE! EBOO, Efya, Patch Bay, OTHERS to perform @ Bola Ray bio launch

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Dancehall/ Afrobeats gem Eboo will perform his compelling tribute song in honour of Bola Ray’s book launch tonight at the plush Labadi Beach Hotel in Accra.

Like the memoire, the song is titled “It Is Possible”, and proves a touching testimony of the celebrated broadcaster’s journey. Produced by Legacy Beats, it also features the EIB boss himself.

Other top acts named for the night include sultry chanteuse Efya, the Patch Bay Band, as well astalented saxophonist Mizter Okyere.

Authored by journalist Obed Boafo, the 320-pager details the media mogul’s life over four decades, as well as his journey to becoming one of the country’s foremost business persons. It was written over 2 years.

Copies of the book can be secured via bolaray.com

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#ITISPOSSIBLE: Kwame Sefa Kayi to host Bola Ray Book launch!

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Beloved media mogul and EIB CEO Nathan Kwabena Anokye Adisi (Bola Ray) outdoors his memoir at the Labadi Beach Hotel tonight.

Expected to be graced by the creme of society, the launch is part of a series of activities to mark the broadcaster’s 20 years as a media practitioner.

Colleague broadcaster and host of Peace FM’s Kokrokoo has been announced as compere for the evening. An icon himself, Sefa Kayi is highly revered in the media landscape, bringing to the stage a wealth of experience built over many decades.

The launch will be graced by key statesmen, industry colleagues, and admirers alike.  President Akufo-Addo, former presidents Rawlings and J. A Kuffour, John Dramani Mahama, Deputy UK High Commissioner to Ghana Gavin Cook, world-renowned cosmetologist Dr Rita Rakus are among special guests of honour.

Joining radio while still in university, the EIB boss has gone on to become an authority not just in radio broadcasting, but in the entertainment industry as a whole –widely earning praise as the brightest of his generation.

Copies of the book can be secured via bolaray.com

 

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IMAGES: Nikki Samonas and Jasmine Baroudi Celebrate With Jack Daniels

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September marks the birthday of Jack “Jasper Newton” Daniels, the legendary craftsman who founded the “Jack Daniels” brand and continues to make his mark on the world today with the world’s finest whiskey.

Because no-one knows his exact date of birth; Jack Daniels is celebrating (Mr.) Jack’s birthday all month long with celebrity birthday celebrants within the month.

Delectable screen goddesses, Nikki Samonas and Jasmine Baroudi looked fab and stunning last Saturday night as they hosted their birthdays with Jack Daniels inside the plush Venus Lounge in OSU.

The AccraNightlyf Group and Jack Daniels promised a fun night and delivered a scintillating affair.

Guests were welcomed unto an artsy  yet glamorous red carpet set up reminiscent of “Mr. Jack’s Room”  and featured an on- going live graffiti painting of Mr. Jack, leading into the fun photo area complete with Jack Daniels props.

It set the tone for a fun and memorable night.

A consistently good playlist was served throughout the night by Live Fm’s Sheldon the Turn Up, budding DJ, Wallpaper and the best female DJ in Ghana, DJ Nyce.

Venus Lounge was lit as a capacity crowd made up of the city’s upwardly mobile socialites partied their way into the morning with Mr. Jack.

This was the kickoff event in the #CelebrateWithJack  Birthday party series which moves next to the CHAMPS Bar this Friday, 22nd September for a special Karaoke Party dubbed, “WHEN JACK SINGS.”

 

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#ITISPOSSIBLE: All set for launch of Bola Ray’s bio tonight!

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It all comes down to tonight. For some two decades, celebrated broadcaster Nathan Kwabena Anokye Adisi (Bola Ray) has indisputably changed Ghana’s media landscape. Joining radio while still in university, the EIB boss has gone on to become an authority not just in radio broadcasting, but in the entertainment industry as a whole –widely earning praise as the brightest of his generation.

In a few hours, and like his GH One TV show, the story of this beloved media mogul and leadership icon will be officially revealed. Slated for the plush Labadi Beach Hotel, the drive-belt doyen outdoors his biography.

Authored by journalist Obed Boafo, the book details Bola Ray’s life over four decades, as well as his journey to becoming one of the country’s foremost business persons. It was written over 2 years.

#ITISPOSSIBLE – Eboo drops official theme song for Bola’s biography – LISTEN!

 The launch is expected to attract key statesmen, industry colleagues, and admirers alike.  President Akufo-Addo, former presidents Rawlings and J. A Kuffour, John Dramani Mahama, Deputy UK High Commissioner to Ghana Gavin Cook, world renowned cosmetologist Dr Rita Rakus are among special guests of honour.

Copies of the book can be preordered via bolaray.com

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