VOD streaming, podcasting, NFTs and the metaverse are all benefiting from growing internet consumption, says pwc_za EntertainmentandMediaOutlook
South Africa’s growing internet consumption is leading to a rapid rise in subscriptions to video-on-demand services, with revenue growth to 2026 expected to outpace TV subscription revenue.Africa Entertainment and Media Outlook 2022-2026The report provides a landscape of the entertainment and media industry across three regions – Kenya, Nigeria and South Africa – as it is seen as a considerable economic driver in many African countries.
Segments such as video games and over-the-top streaming services rose to new heights after thriving under lockdown conditions, while other sectors proved to be largely ‘pandemic-proof’. Alinah Motaung, PwC Africa entertainment and media leader, told ITWeb that the pandemic accelerated changes in local consumer behaviour, and digital adoption grew in leaps and bounds, a trend likely to affect future growth trajectories.
South Africa’s VOD streaming market has been a hive of activity in recent months, with new entrants British TV online subscription-VOD service BritBox, eMedia Investments’ eVOD, and Disney+. Charles Stuart, PwC South Africa entertainment and media partner, commented: “Connectivity in all markets is constrained by underdeveloped infrastructure, meaning the speed and quality of fixed broadband is less reliable, and consumers have instead turned to cheaper mobile packages.”
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