Entertainment and media revenue in Africa showing strong rebound

By our News Team | 2022

Segments such as video games and streaming TV have risen to new heights after thriving under lockdown conditions, study finds.

PricewaterhouseCoopers Africa (PwC Africa) recently presented the latest industry insights from its Africa Entertainment and Media Outlook 2022-2026, noting that Africa’s entertainment and media industry has become more digital, pitched at attracting the young, and dependent on advertising.


Photo by Yan Krukov from Pexels

“The entertainment and media industry is a considerable economic driver in many African countries and, just like the rest of the world, large sectors within the industry were adversely impacted by Covid-19. However, our latest analysis of the industry’s performance in key African economies reveals that a more positive trajectory is finally in sight,” the company said.

“This year, the focus of our report is on the fault lines and fractures that are opening up between entertainment and media industries and companies, and within different media segments. The [report] assesses evolving consumer behaviours – and the advertising spend that follows those behaviours. As business models shift to meet consumers where they spend their time (and money), several fault lines are opening up.”

In 2021, South Africa, Nigeria and Kenya saw strong growth in entertainment and media revenue. Industries that were more severely impacted in 2020 – such as cinema, live music and B2B trade shows – made strong comebacks, although revenues remained below pre-pandemic levels.

Certain segments thrived under lockdown conditions

Segments such as video games and OTT (streaming TV) video rose to new heights after thriving under lockdown conditions, while other sectors proved to be largely ‘pandemic-proof’, with podcast advertising, albeit off a low base, showing resilient revenue growth of 30.4% in 2020 in South Africa, and 41.8% in Nigeria.

Alinah Motaung, PwC Africa Entertainment and Media Leader, says what is clear is that the pandemic accelerated changes in consumer behaviour and digital adoption in ways that will affect future growth trajectories. 

“Some of the sectors that saw immense gains during Covid-19 might not be able to sustain that growth, while others are set to continue to build from their higher bases. Some formerly niche sectors, such as gaming, will barrel their way into prominence as other formerly dominant sectors such as traditional TV, newspapers and consumer magazines are at risk of seeing their positions erode.”

Advertising, which was harder hit by the pandemic, experienced the largest rebound in 2021. 

Elenor Jensen, PwC South Africa Entertainment and Media Partner, says: “From an advertising perspective, it is the internet advertising segment that we expect to see the largest gains in advertising revenue terms across the five-year forecast period to 2026. This is a trend seen across South Africa, Nigeria, Kenya, and at a global level, and is due to consumers and advertisers prioritising digital.”

Other key highlights include: 

  • Cinema’s post-pandemic recovery is well underway, with box office revenue in South Africa set to surpass 2019 levels in 2023.
  • In Nigeria, music streaming is set to be the fastest-rising revenue component across the country’s music market by 2026. Over the next five years, digital music streaming revenue will increase at a 23.7% CAGR.
  • OTT video streaming revenue is set to rise rapidly over the next five years, with revenue growth to 2026 expected to outpace increases in TV subscription revenue across all three markets. But this is from a relatively small base, meaning that revenue itself will remain comparatively low. 

Read the full report here: Africa Entertainment and Media Outlook 2022-2026

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    Dr Kin Kariisa

    Group CEO - Next Media

    Dr. Kin Kariisa is an extraordinary force at the helm of Next Media Services, a conglomerate encompassing NBS TV, Nile Post, Sanyuka TV, Next Radio, Salam TV, Next Communication, Next Productions, and an array of other influential enterprises. His dynamic role as Chief Executive Officer exemplifies his unwavering commitment to shaping media, business, and community landscapes.
    With an esteemed academic journey, Dr. Kariisa’s accolades include an Honorary PhD in exemplary community service from the United Graduate College inTexas, an MBA from United States International University in Nairobi, Kenya, a Master’s degree in Computer Engineering from Huazong University in China, and a Bachelor’s degree in Statistics from Makerere University.
    Dr. Kariisa pursued PhD research in Computer Security and Identity Management at Security of Systems Group, Radboud University in Nijmegen, Netherlands. As a dynamic educator, he has shared his expertise as a lecturer of e-Government and Information Security at both Makerere University and Radboud University.

    Dr Kin did his PhD research in Computer Security and Identity Management at Security of Systems Group, Radbond University in Nigmegen, Netherlands. He previously served as a lecturer of e-Government and Information Security at Makerere University in Kampala, Uganda and Radbond University in Netherlands.

    Dr Kin did his postgraduate courses in Strategic Business Management, Strategic Leadership Communication and Strategies for Leading Successful Change Initiatives at Harvard University, Boston USA.

    • Other current and previous roles played by Dr Kin Kariisa:
    • Lecturer of e-Government and Information Security to graduate students at Makerere University, Kampala and Radbond University in the Netherlands
    • Director of Eco Bank Uganda Limited, one of the largest banks in Africa
    • Chairman of the National Association of Broadcasters, an umbrella industry association for all Television, Radio and online broadcasters in Uganda.
    • Chairman of Board of Directors of Nile Hotel International, that owns the leading hotel in Uganda, Kampala Serena Hotel.
    • Chairman of Board of Directors of Soliton Telmec Uganda, the leading telecom company in Optic fibre business managing over 80% of optic fibre in Uganda.