According to PwC’s Africa Entertainment and Media Outlook 2024–2028, the upward trend is expected to continue. Over the next five years, E&M revenues in all three countries are projected to grow faster than the global average of 3.9% CAGR. South Africa’s market is set to expand from R295.3 billion (US$16.1 billion) in 2023 to R363.2 billion (US$19.8 billion) by 2028. Nigeria’s E&M sector is forecasted to reach US$13.6 billion, up from US$9.0 billion, while Kenya’s market will grow from US$3.8 billion to US$4.8 billion over the same period
Despite global economic uncertainty, South Africa, Kenya, and Nigeria’s entertainment and media (E&M) markets continue to show strong growth, outpacing the global average of 5.0% in 2023. Nigeria led the charge with a 15.0% increase, followed by South Africa at 11.7% and Kenya at 5.8%.
According to PwC’s Africa Entertainment and Media Outlook 2024–2028, the upward trend is expected to continue. Over the next five years, E&M revenues in all three countries are projected to grow faster than the global average of 3.9% CAGR. South Africa’s market is set to expand from R295.3 billion (US$16.1 billion) in 2023 to R363.2 billion (US$19.8 billion) by 2028. Nigeria’s E&M sector is forecasted to reach US$13.6 billion, up from US$9.0 billion, while Kenya’s market will grow from US$3.8 billion to US$4.8 billion over the same period.
Some segments, such as live music, have already surpassed pre-pandemic revenue levels. Others, including internet advertising, are scaling rapidly. Infrastructure expansion and increased data consumption will drive further growth in mobile and fixed internet services.
Digital Disruption and AI Transformations
The industry is shifting from traditional linear models to digital ecosystems, while the global streaming boom slows. Emerging technologies like generative AI (GenAI) are reshaping content creation and business models. AI-driven tools are streamlining production, automating recommendations, and optimizing network operations, reducing costs while enhancing user experiences.
PwC’s 27th Annual CEO Survey found that 57% of E&M executives believe their current business models won’t be viable in a decade, compared to 45% of CEOs across all industries.
5G adoption is also advancing across Africa, fueling new E&M opportunities, including cloud gaming, video streaming, and virtual reality. Africa’s youthful population, with a strong preference for digital and mobile platforms, is accelerating growth in mobile gaming, esports, and over-the-top (OTT) streaming services.
Market-Specific Growth Projections
Kenya: The country’s internet advertising market is projected to be the fastest-growing globally, with a CAGR of 17.4%. The total E&M sector is expected to expand at 5.2% CAGR, led by internet advertising and OTT services.
South Africa: As the most established market, South Africa’s E&M industry is set to grow at a CAGR of 4.2% through 2028, with OTT and internet advertising leading the way. While print media faces stagnation, video games and esports show strong future potential.
Nigeria: One of the world’s fastest-growing E&M markets, Nigeria is projected to expand at an 8.6% CAGR. Internet advertising revenue is expected to more than double by 2028, with video games, esports, OTT, and music streaming among the fastest-growing segments.
As Africa’s E&M landscape evolves, digital transformation and emerging technologies will remain key drivers, shaping a future of innovation and sustained growth.
