Entertainment and Music is at the heart of African culture; traditionally it was used as a form of communication, celebration and storytelling. Although unique to each country, the sounds and visuals of African content has evolved over the years, but one thing remains, it still plays an imperative role in African society.
In 2018, PwC’s ‘Entertainment and media outlook: 2018 – 2022: An African perspective‘ report revealed that South Africa, Nigeria, Kenya, Ghana and Tanzania will add US$12.4 billion in E&M revenue from 2017 to 2022, at a combined CAGR of 11.9%. The growth of internet access is expanding the range of E&M opportunities available in Africa and telcos is said to be the key growth drivers in revenue. Additionally, Africa’s high population and gradually increasing disposable income suggest there will be an increase of potential E&M consumers.
As such, the entertainment and media industry presents itself as a lucrative opportunity for investment. Global telecoms provider, Econet Wireless, through its subsidiary brand Econet Media, recently announced that it was reviewing its business strategy and service offerings to align with the changes …read more