“The line between traditional media and digital media is blurred – consumers want more flexibility and freedom in how they consume content.” – PwC
Albums in physical forms don’t really sell anymore. Digital disruption in the music industry over the last decade has changed things.
According to a new report by professional services firm, PwC, African entertainment and media industry has entered a new landscape – one where the media is no longer divided into distinct traditional and digital spheres.
The report titled Entertainment and media outlook: 2015 – 2019 (South Africa – Nigeria-Kenya) presents the Outlook forecasts that South Africa’s entertainment and media industry is expected to grow from R112.7 billion in 2014 to R176.3 billion in 2019, at a compound annual growth rate (CAGR) of 9.4%. Digital spend is expected to fuel the overall growth.
“Consumers are choosing offerings that combine an outstanding and personalised user experience with an intuitive interface and easy access. This includes shared physical experiences like cinema and live concerts, which appear re-energised by digital and social media,” says Vicki Myburgh, entertainment and media leader for PwC Southern Africa.
One of South Africa’s most popular music groups Mi Casa is on a tour and will release a new album on iTunes this month. The group is contributing to the growth of the South African entertainment industry as content providers and making more money as the industry grows. My interview with the group will be published soon on thenerveafrica.com.