After more than a decade of digital disruption, the African entertainment and media industry has entered a new landscape.
The new economic environment is one in which the media 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 R112.7bn (US$80.5mn) in 2014 to R176.3bn in 2019, at a compound annual growth rate (CAGR) of 9.4%. Digital spend is expected to fuel the overall growth. South Africa’s Internet access market will rise rapidly from R32.5bn in 2014 to R76.2bn in 2019, far ahead of any other consumer spend category, making it the largest contributor to South Africa’s total entertainment and media revenues.
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 towards video and mobile. Increasingly, though, it’s clear that consumers see no significant divide between digital and traditional media – what they want is more flexibility, freedom and convenience in when, where and how they interact with their preferred content.”