Connect with us

Events & Places

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

Published

on

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.

Comments

Events & Places

British Council launches Duapa Challenge “THE CAMPUS DUEL”

Published

on

The Duapa Challenge is a social innovation support competition providing seed capital and business support for the early-stage viable social enterprise. The programme, as part of our contributions to the social enterprise ecosystem, seeks to promote economic growth, private sector development and youth employment through enterprise.

Over the past two years, the competition achieved its aim in identifying and supporting brilliant social enterprises like Trotro Tractor and CowTribe who are in operation and growing.

The aim of this competition is to:

  • identify and support idea and growth stage social enterprises from tertiary institutions in Ghana.
  • generate and support student entrepreneurship with a focus on social entrepreneurship.
  • bring together idea and growth stage social entrepreneurs to connect, learn and develop synergies.
  • provide seed capital and support to the winning social enterprise from ideation to prototype/market entry phase.
  • create general awareness about social enterprises in Ghana.

CORE TARGET AREAS

This edition of the Duapa Challenge seeks to draw social entrepreneurs in tertiary institutions from the following sectors:

  • Social focused Fintech
  • Green & Renewable Energy
  • Agriculture
  • Ethical Design & Manufacturing
  • Healthcare
  • Education

 

 

THE APPROACH

In this edition dubbed “The Campus Duel”, the competition will focus on student social enterprises in the following 10 Ghanaian tertiary institutions:

  • University of Ghana
  • Ghana Institute of Management and Public Administration
  • Ashesi University
  • University of Professional Studies
  • Knutsford University College
  • Lancaster University
  • Kwame Nkrumah University of Science and Technology
  • Central University College
  • University of Cape Coast
  • Catholic University College

Each of these institutions will have a team each of three or fewer students representing them at each stage of the competition. The teams will be required to develop and pitch their business ideas. The winning team will be awarded seed funding for their business, business incubation, training and support by the British Council and social enterprise partners.

 

Comments
Continue Reading

Events & Places

2017 SoundCity MVP Awards Festival – WATCH LIVE

Published

on

The 2017 edition of SoundCity MVP Awards Festival is currently underway at the Eko Suites and Hotel in Lagos, Nigeria.

The prestigious awards ceremony is steered by the larger than life Ebuka, as Soundcity VJs – Adams, Moet and Pearl host the red carpet.

Ebuka sure yields star wattage to anchor the show and set the diverse audience alight with fun, laughter and wisecracks as the African music industry honours its finest talent.

Among the several performers who have been announced is multiple award-winning rapper Sarkodie.

Watch the event live here:

Comments
Continue Reading

Events & Places

Sarkodie wins “Best Collaboration” at #SoundCityMVPAwards Festival 17

Published

on

Ghanaian rapper Sarkodie has won the Best Collaboration at the ongoing SoundCity MVP Awards Festival at the Eko Event Center in Lagos.

His hit single “Pain Killer”, featuring Nigerian singer Runtown, secured him the laurel. He beat off stiff competition from Tiwa Savage, Tofan, AKA among other African giants.

The prestigious awards ceremony is compered by broadcaster Ebuka, with Soundcity VJs – Adams, Moet and Pearl hosting the red carpet.

 

Comments
Continue Reading

Events & Places

How Jack Daniels Rocked Accra This Christmas [+ images]

Published

on

Leading Nightlife marketing agency, The AccraNightlyf Group and Jack Daniels exceeded expectations once again as they delivered a truly unique GH party experience at a series of events across the city dubbed “A JACK DANIELS CHRISTMAS.”

An eclectic mix of the finest rave DJs, awesome Xmas -themed cocktails, Jack Fire “Shots On Shots” by the hour, lots of giveaways, and the best party people in the city defined the each event on the calendar; kicking off with the 2017 Ghana Dance festival at the Afrikiko Leisure Centre. The colorful event featured spicy Salsa, Kizomba and various afro-Latin dance performers from across the continent as well as the UK.

The city’s affluent yuppies, corporate professionals and socialites turned up in style and in their numbers at the PLOTSEVEN Nightclub and partied till the break of dawn the DECEMBER EDITION of the monthly networking rave, GOOD VIBES ACCRA dubbed “BACK TO 94.”  The night brought back the nostalgic days of “94” with the best of music from the era provided by FRENCHKISS DJ.

The party was back at PLOT 7 for the epic FUNKY CHRISTMAS rave but not before a sold out crowd turned it up at the Paparazzi Lounge for the 2nd Annual Xmas Eve Party.

 Leading female DJ on the nightlife circuit, DJ Nyce and DJ Wallpaper teamed up to deliver  an electric party at the “Krazy Party”  at Krazy Bar [Former Duplex] Osu on Boxing Day.

See images:

Comments
Continue Reading

Events & Places

Highlife legend Ebo Taylor & Saltpond Band in Concert, Jan 13

Published

on

Highlife legend, Ebo Taylor and the Saltpond Band are set to dish out an outstanding musical concert of great Highlife and Afrobeat tunes this January at Alliance Francaise Accra.

Ebo Taylor, whose musical career started in the 1950s when he rose to fame as lead-guitarist and arranger for Stargazers Band and Broadway Dance Band, which were among the most popular Highlife bands of that era has  composed ever popular Highlife songs, like “Sika Enibre”, “Owu Na Mewu”, “Odo Ye Wu”, “Ghana Be Ye Yie”, and “Dofo”.

In 1962, Taylor took his own group, the Black Star Highlife Band, to London, which led to collaborations with the late Nigerian afrobeat star, Fela Kuti as well as other African musicians in Britain at the time. Returning to Ghana, he worked as a producer of crafting recordings for Pat Thomas, C.K Mann, and others, as well as exploring his own projects, and combining traditional Ghanaian material with afrobeat, jazz, and funk rhythms to create his own recognizable sound in the ’70s.

He made recordings as solo artist, developing his own innovative style and sound to be heard on his albums.  At this creative stage he composed his enduring hits “Twer Nyame”, “Heaven”, “Come Along”, and “Love & Death”. He became the musical director and main band arranger for the two ground-breaking Ghanaian record companies, Essiebons and Gapophone.

In the 1980s and ‘90s – harsh times for Ghanaian musicians – Taylor worked as free-lance artist, also temporarily in Cote D’Ivoire, and from 2001 he added an academic chapter to his career, and started teaching Highlife and Jazz-guitar at the University of Ghana. This allowed him to research more into local music of the various regions of Ghana, which gradually became a more important inspirational source in Taylor’s compositional approach.

With his compositions, arrangements and also his outstanding guitar style Taylor has shaped Ghanaian music and in particular Highlife substantially. Significantly, he has created his own, remarkable style of African music: a unique synthesis of Highlife, Jazz, und Afrobeat.  Ebo Taylor and his 8-piece Saltpond band will be in action for the first concert of the year to perform some of the songs from his new album ‘Yen Ara’ on Saturday, 13th January 2018 at Alliance Francaise Accra at 8pm.

Make it a point to be there with your Friends and Family as we enjoy great Highlife tunes.

 

SUBMITTED!

Comments
Continue Reading

Events & Places

Efya, Ko-jo Cue, OTHERS for FRA!ternity Concert, Jan. 20

Published

on

Music band FRA! will on Saturday January 20, hold a mammoth concert at the Alliance Française in Accra.
The show, dubbed the “FRAternity Concert”, is scheduled from 8 pm to 11 pm.
Known by their hit single, Happy Yourself, members of the group have promised to thrill patrons and fans with mind-blowing performances of their songs. Some of the artists on the bill include Efya, Adomaa, Yaa Yaa, Ko-jo Cue, and Reynolds ‘The Gentleman’.
Others set to take the stage are Robin-Huws, Maayaa, Six Strings, and O’Bkay.
FRA! hit the mainstream music scene in 2015 with its single Dumsor, which was a quasi-satire with themes drawn from the erratic power outages in Ghana at the time.
‘FRA,’ in Twi, means ‘to mix’ and the group adopted the name to show the strength of the diversity that they are so proud of. Now made up of Martin Adjartey, Maxwell Klu, Selorm Dornyoh, Joshua ‘Virgen’ Boateng, and George Ashirifie ‘Gogoe’, the eclectic band’s recent remix of their Happy Yourself jam features Ghana’s female soul vocalist and songwriter, Efya.
SUBMITTED!
Comments
Continue Reading

Facebook

Recent Posts

OVER THE PERIOD

Advertisement

First News