Kenya’s live music revenue to improve, PwC report predicts

The Outlook presents annual forecasts in 11 entertainment and media segments for Kenya, South Africa and Nigeria. The report indicates that Kenya’s total music revenue will rise from US$19 million in 2015 to US$29 million in 2020-a 9.3% Compound Annual Growth Rate (CAGR).

The report further says it is mobile music revenue that will be responsible for most growth in revenue, although small improvements in live music revenue will also be seen. In its 2015 report, PwC had stated that consumer spending on live music events in Kenya was set to grow, with a 3.8% CAGR over the next five. The 2015 report had further noted that that live music was the smallest of the three music sectors and by 2017 would only account for 10% of music revenues in the country.

With the global music market reported to have achieved a new milestone in 2015 as digital sales became the primary revenue stream, PwC notes digital sales in Kenya overtook physical sales in 2015 and will make up more than four-fifths of the market by 2020.

From Cinema to Internet advertising, the PwC entertainment and Media outlook uncovers how shifts in spending are shaping the future of the industry and 11 individual entertainment and media segments. As spend migrates from physical to digital and from developed to developing markets, the report identifies and looks at the impact of, key insights and provides perspective on those hot topics transforming the industry.

For 17 years, PwC’s Global entertainment and media outlook has been providing expert commentary and insights centred on the shifts in advertising and consumer spending. To access the full Entertainment and media outlook visit the PwC website.