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Entertainment and media markets in Africa show resilience amid global challenges: PwC

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  • 🞛 This publication is a summary or evaluation of another publication
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According to PwC, the anticipated rise in consumer access to stable internet, bolstered by 5G adoption, is likely to drive this growth.
The article from MSN, discussing insights from PwC's Africa Entertainment & Media Outlook 2023-2027, highlights the resilience of Africa's entertainment and media markets despite global economic challenges. It notes that while the sector faced disruptions from the global health crisis, it has shown significant adaptability and growth potential. Key points include the rapid digitalization of content consumption, with internet access and mobile technology driving growth in sectors like video games, music, and online video. The report also points out the increasing importance of local content, with African consumers showing a strong preference for homegrown media. Despite economic pressures like inflation and currency fluctuations, the entertainment and media industry in Africa is expected to grow, supported by a young, digitally savvy population and an expanding middle class. The article underscores the need for investment in infrastructure and content creation to further harness this potential.

Read the Full MSN Article at:
[ https://www.msn.com/en-za/entertainment/music/entertainment-and-media-markets-in-africa-show-resilience-amid-global-challenges-pwc/ar-AA1xZAIN ]