PwC: Internet to boost East Africa’s entertainment industry

This is according to PricewaterhouseCoopers’ (PwC) outlook report on consumer and advertising spending across five countries that include Kenya, Nigeria, South Africa, Ghana and Tanzania. The report covers 2017 - 2021.

In 2016, Kenya’s entertainment and media market was worth $2.1 billion. According PwC, Kenya’s revenue will grow by 8.5% Compound Annual Growth Rate (CAGR) over the next five years, hitting $3.2 billion in 2021. Same industry in Tanzania had a total revenue of $504 million in 2016, and will grow by 17.2% CAGR, doubling the country's revenue to $1.1 billion in 2021.

The report attributes this growth in East Africa to the availability of internet: "Internet access is the most established industry within the Kenyan market, boasting the largest revenues and one of the highest growth rates to 2021. It will also be the first sub segment in which revenues hit $1.0 billion, which it will reach in 2020."

“The Internet market is extremely healthy in Tanzania," says the PwC report, "overwhelmingly led by the mobile, where operators have accelerated their investments in data network expansion to meet user demand.”

Overall, South Africa has the better growth profile of the countries covered in the report. Nigeria, despite the instability of the naira, follows. Kenya comes is third place, preceding Ghana. Tanzania comes in last.

For the full PwC report, see here.