Africa’s Media Outlook: Growth Expected Over Next Five Years

By Semafor Africa

Photos: YouTube Screenshots

Revenue growth in Africa’s major entertainment and media markets will surpass the expected global average over the next five years, driven by expansions in 4G internet access, according to a new report.

Between 2023 and 2028, media businesses in Kenya, Nigeria, and South Africa will report revenue growth above the predicted worldwide average of 3.9%, the PricewaterhouseCoopers study said.

South Africa, the continent’s most developed media market, will see its revenue grow from $16 billion in 2023 to nearly $20 billion by 2028, driven in large part by 8.5% growth in video streaming. In Nigeria, internet and advertising, video games and esports, as well as video streaming will push annual revenue up to $13.5 billion, while Kenya’s internet advertising market is projected to be the fastest growing in the world.

Alexander Onukwue