‘Internet access will remain a significant force behind the major growth in the South African entertainment and media industry, reflecting expanded broadband device and greater use of smart devices’ says a report unleashed by PwC.
The entertainment and media market (E&M) of South Africa is accustomed to increase at a compound annual growth rate (CAGR) of 10.9 percent in five years, which is among the highest in the world.
According to PwC’s South African Entertainment and Media Outlook: 2013-2017 (‘The Outlook’), the E&M market will generate an overall revenue of R175-billion in 2017.
“In South Africa, as in other markets worldwide, consumers’ access to entertainment and media content and experiences are being democratised by the expansion of access to the Internet and the explosive growth in smart devices,” said Vicki Myburgh, Entertainment & Media Industries Leader for PwC Southern Africa. “Even though traditional, non-digital media will continue to dominate overall E&M spending in South Africa over the next five years, much of the growth will come from digital.”
Internet access will also attract notable growth, which will be increasing from R19.8-billion in 2012 to about R59.6-billion in 2017, at a CAGR of 24.7 percent.
Mobile internet will be carrying the whole weight of growth such that if by any case it is removed the CAGR will decline to 5.9 percent.
Does this mean that the next Hollywood will be in South Africa having being beaten by Nigeria’s Nollywood fair and square. Why is it that South Africa have a problem in adapting to mobile internet? it seems to be lagging behind yet it is allegedly the most developed country on the southern part of the Sahara