Entertainment And Media Outlook: 2018 2022 - PwC

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Entertainment and mediaoutlook: 2018 – 2022An African perspectiveAn in-depth analysis of the trends shapingthe entertainment and media industry inSouth Africa, Nigeria, Kenya, Ghana andTanzania9th annual editionSeptember 2018www.pwc.co.za/outlook

The information contained in this publication is provided for general informationpurposes only, and does not constitute the provision of legal or professionaladvice in any way. Before making any decision or taking any action, aprofessional adviser should be consulted. No responsibility for loss to anyperson acting or refraining from action as a result of any material in thiaspublication can be accepted by the author, copyright owner or publisher.This publication has been prepared for general guidance on matters of interestonly, and does not constitute professional advice. You should not act upon theinformation contained in this publication without obtaining specific professionaladvice. No representation or warranty (express or implied) is given as to theaccuracy or completeness of the information contained in this publication, and,to the extent permitted by law, PricewaterhouseCoopers Inc, its subsidiary andassociated companies and entities and their respective directors, employeesagents and subcontractors do not accept or assume any liability, responsibilityor duty of care for any consequences of you or anyone else acting, or refrainingto act, in reliance on the information contained in this publication or for anydecision based on it.

Editor’s letterEntertainment and media outlook: 2018 – 2022 An African perspective1PwCPwC1

Editor’s letterAbout this reportWelcome to this year’sspecial report onthe findings of ourEntertainment andmedia Outlook:2018–2022, An Africanperspective (Outlook).Every year we take a deepdive into the data andanalysis that our team ofresearchers and industryspecialists have unearthed– with the aim of providingfresh perspectives andactionable insights.Our comprehensive data andprojections on the 14 definedsegments across five territoriesare just the start in creating theseinsights. As in previous years, ourauthors have blended the data withtheir own observations, experiencesand examples to turn raw informationinto true intelligence.What’s trending now? It’s clear we’rein a rapidly evolving media ecosystemthat’s experiencing Convergence3.0 – a new and different wave ofconvergence driven by differentcapabilities and higher expectations,and manifesting itself simultaneouslyin multiple dimensions.In Convergence 3.0, the dynamicsof competition are evolvingwhile a cohort of ever-expandingsupercompetitors and more focussedplayers strive to build relevance atthe right scale. And business modelsare being reinvented so all playerscan tap into new revenue streams,by, for example, targeting fans andconnecting more effectively withcustomers to develop a membershipmind-set.The pace of change isn’t goingto let up anytime soon. New andemerging technologies such asartificial intelligence and augmentedreality will continue to redefine thebattleground. In an era when faith inmany industries is at an historicallylow ebb and regulators are targetingmedia businesses’ use of data, theability to build and sustain consumertrust is becoming a vital differentiator.The result? To succeed in the futurethat’s taking shape, companies mustre-envision every aspect of whatthey do and how they do it. It’sabout having, or having access to,the right technology and excellentcontent, which is delivered in acost-effective manner to an engagedaudience that trusts the brand. Forthose able to execute successfully, theopportunities are legion.Writing this report was an excitingand energising experience – and wehope these qualities shine through.To learn more about how our findingsand perspectives apply to yourbusiness, please contact your localPwC team (see page 186) or reach outto me. I look forward to hearing fromyou.Best regards,Vicki MyburghEntertainment and Media LeaderPwC Southern AfricaEntertainment and media outlook: 2018 – 2022 An African perspective2PwC

AcknowledgementsEntertainment and media outlook: 2018 – 2022 An African perspective3PwC

AcknowledgementsContributorsUse and permissionsOutlook 2018–2022editorial teamUse of data in thispublicationPwC partner and teamleaderMaterial in this publication is drawnfrom data in the Entertainment and Vicki Myburgh, Entertainmentand Media Leader, PwC SouthernAfricaPwC editorial team Amandri Coetzee Benard Kingori Benjamin Offei-Addo Charles Stuart Elenor Jensen Gary Berchowitz Jagruti Morar Lillian Mbai Louis de Jager Sarah Amankwa Sunet LiebenbergMany other professionals from thePwC entertainment and mediapractice, across five territories,reviewed and added local expertiseto this publication. In addition, wewish to thank the industry expertswho have added their insights.media Outlook: 2018–2022, AnAfrican perspective (Outlook), acomprehensive source of consumerand advertising spend data availablevia free subscription at www.pwc.co.za/outlook. PwC continually seeksto update the online Outlook data;therefore, please note that the data inthis publication may not be alignedwith the data found online. TheOutlook is the most up-to-date sourceof consumer and advertising spendingdata.This document is provided by PwCfor general guidance only and doesnot constitute the provision oflegal advice, accounting services,investment advice or professionalconsulting of any kind. Theinformation provided herein shouldnot be used as a substitute forconsultation with professional tax,accounting, legal or other competentadvisers. Before making any decisionor taking any action, you shouldconsult a professional adviser who hasbeen provided with all pertinent factsrelevant to your particular situation.The information is provided as is,with no assurance or guarantee ofcompleteness, accuracy or timelinessof the information and withoutwarranty of any kind, express orimplied, including but not limitedto warranties of performance,merchantability and fitness for aparticular purpose. Content fromthe articles in this publication mustnot be excerpted, used or presentedin any portion that would render itmisleading in any manner or that failsto provide sufficient context.Permission to citeNo part of this publication may beexcerpted, reproduced, stored ina retrieval system or distributedor transmitted in any form or byany means – including electronic,mechanical, photocopying, recordingor scanning – without the priorwritten permission of PwC.Requests should be submitted inwriting to Vicky Myburgh atvicky.myburgh@pwc.com outliningthe excerpts you wish to use, alongwith a draft copy of the full reportthat the excerpts will appear in.Provision of this information isnecessary for every citation requestto enable PwC to assess the contextin which the excerpts are beingpresented.Without limiting the foregoing,excerpts from the publication maybe used only for background marketillustration, should not be the solesource of 2018– 2022 information andmust not form the majority of sourcedinformation.About PwCAt PwC, our purpose is to buildtrust in society and solve importantproblems. We’re a network of firmsin 153 countries with more than236 000 people who are committedto delivering quality in assurance,advisory and tax services. Find outmore and tell us what matters to youby visiting us at www.pwc.com.Supplier to the OutlookOvum, a provider of businessintelligence and strategic servicesto the global telecoms and mediamarkets (which is a trading divisionof Informa Telecoms and Media Ltd.),www.ovum.com 2018 PwC. All rights reserved. PwC refers to the PwC network and/or one or more of its member firms, each of which is also aseparate legal entity.Please see www.pwc.com/structure for further details. This content is for general information purposes only, and should not beused as a substitute for consultation with professional advisers. Global Entertainment & Media Outlook is a trademark owned byPricewaterhouseCoopers LLPEntertainment and media outlook: 2018 – 2022 An African perspective4PwC

AcknowledgementsMethodology and definitionsHistorical datacollectionAll forecasts have been built startingwith the collection of historical datafrom a variety of sources. A baselineof accurate and comprehensivehistorical data is collected in thefirst instance from publicly availableinformation, including from tradeassociations and governmentagencies. When this data is useddirectly, these sources are citedaccordingly. In addition, interviewswith relevant associations, regulatorsand leading players have beenconducted to gather insights andestimates not available in the publicdomain. When this informationis collected, it is used as part ofcalculations, and the sources areproprietary.Forecasting methodsAll forecasts are prepared as part ofa collaborative, integrated processinvolving both quantitative andqualitative analysis. The forecastsare the result of a rigorous processof scoping, market mapping, datacollection, statistical modelling andvalidation.DefinitionsDo you want access to consumer and advertising spending data at the clickof a button? The Entertainment and media Outlook: 2018–2022, An Africanperspective (Outlook) is a comprehensive source of analyses and five-yearforecasts of consumer and advertising spending across five territories for14 segments:3.5GInternetData consumptionTelevisionCinemaVideo gamesE-sportsVirtual realityNewspaperMagazinesNote: All data, charts and graphs(unless stated otherwise) in thispublication are taken from theEntertainment and media Outlook:2018–2022, An African of-home advertisingMusicRadioTo access the full segment definitionsfor the Outlook, please visitwww.pwc.co.za/outlookEntertainment and media outlook: 2018 – 2022 An African perspective5PwC

Editor’s letterAcknowledgements131. Overview72. Internet433. Data consumption683.5GContents4. Television755. Cinema876. Video games987. E-sports1108. Virtual reality1139. Newspaper publishing11610. Magazine publishing12511. Books publishing13612. Business-to-business14715. Radio18013. Music14. Out-of-homeadvertisingNew technologies158187169Entertainment and media outlook: 2018 – 2022 An African perspective6Global contacts190PwC

OverviewEntertainment and media outlook: 2018 – 2022 An African perspective71PwC

1. OverviewSnapshotSouth Africa, 2017 (US millions)2017Total E&M revenue9 799Digital E&M revenue4 358Nondigital E&M revenue5 441Consumer revenue7 123Internet access revenue3 534Advertising revenue2 676Largest advertising segment: TV and video567Largest consumer segment (excluding Internet access): TV and video1 876Nigeria, 2017 (US millions)2017Total E&M revenue3 761Digital E&M revenue2 541Nondigital E&M revenue1 219Consumer revenue3 335Internet access revenue2 373Advertising revenue425Largest advertising segment: TV and video156Largest consumer segment (excluding Internet access): TV and video645Kenya, 2017 (US millions)2017Total E&M revenue1 655Digital E&M revenue1 063Non-digital E&M revenue592Consumer revenue1 379Internet access revenue938Advertising revenue276Largest advertising segment: TV and video88Largest consumer segment (excluding Internet access): TV and videoEntertainment and media outlook: 2018 – 2022 An African perspective8198PwC

1. OverviewGhana, 2017 (US millions)2017Total E&M revenue752Digital E&M revenue527Nondigital E&M revenue225Consumer revenue586Internet access revenue479Advertising revenue166Largest advertising segment: TV and video73Largest consumer segment (excluding Internet access): TV and video50Tanzania, 2017 (US millions)2017Total E&M revenue496Digital E&M revenue290Nondigital E&M revenue206Consumer revenue404Internet access revenue256Advertising revenue91Largest advertising segment: Radio32Largest consumer segment (excluding Internet access): TV and video101Sources: Entertainment and media outlook: 2018–2022, An African perspective, PwC, Ovum, www.pwc.co.za/outlookEntertainment and media outlook: 2018 – 2022 An African perspective9PwC

1. OverviewIntroductionFor the consumers of the countriescovered in this Outlook, countlessnew entertainment and media(E&M) options are becomingavailable thanks, in major part, to theunstoppable rise of mobile Internet.As the mobile device cements itself asthe pre-eminent source of the E&Mexperience, the most disruptive,forward-thinking companies arestriving to create an integratedecosystem suited to this consumerdriven dynamic – one in whichsocial media and e-commerce areinterlinked with the entertainmentexperience itself.This is a model, pioneered by Chinesecompanies, that could be replicatedanywhere in the world. Meanwhile, asbig tech compete ever more fiercely inthe entertainment and media spacesthat have the most promising digitalrevenue prospects, such as OTT videoand music streaming, new frontscontinue to appear – from artificialintelligence to smart home services tovirtual assistants.There is growing convergenceacross the entertainment and mediaindustry, and boundaries betweenpreviously distinct sectors are nowblurring in the battle for the attentionof the consumer in a world which israpidly digitising. Globally, the past12 months have been marked by anumber of significant developments.Firstly, streaming services, TVcompanies and social networkscompeting simultaneously over bothconventional sports and e-sportsrights and TV companies, telcos,tech companies, OTT operators andmovie studios competing to provideEntertainment and media outlook: 2018 – 2022 An African perspectiveSouth AfricaTV content. Secondly, radio stations,podcast companies and streamingservices competing to provide radioand podcast content and Google,Clear Channel and ad tech companiescompeting to provide digital OOHservices. Thirdly, news publisherstransforming into media companiesby hiring VR teams and video experts;and even automobile manufacturersand radio providers working hand inhand.The ever-increasing use of mobilephones also requires companies toangle services and products towardsE&M, a trend which demandsindustry-wide cooperation. Nowthat the most prized assets in thedigital age have been determined,competition for those assets is comingfrom every conceivable direction.There is an increasing pressure onkey players in the entertainmentand media market to diversify theirofferings and develop new revenuestreams in order to keep subscriberfigures, print sales, admissionnumbers and advertising investmentbuoyant; driving this convergenceacross the industry. To meet thesegrowth targets, companies are alsoconverging geographically, oftentargeting global markets, rather thanregional ones.South Africa faced an eventful yearat the political and macroeconomiclevel in 2017, but emerged early in2018 with a new president viewedas market-friendly and vowingto overhaul the economy. Theentertainment and media (E&M)world does not however operatein a vacuum, and with advertiserconfidence particularly hit in2017, total E&M revenue rose at acomparatively low rate of 6.8% yearon-year to R129.2 billion.By comparison, in 2015 and 2016,rates of 12.8% and 9.2% respectivelywere seen, although they were inlarge part driven by rapid Internetaccess growth. However, there arebetter prospects ahead. A bounceback in 2018 sees an anticipated 7.6%year-on-year growth, while the CAGRto 2022 is forecast at 6.5%, leavingtotal E&M revenue at R177.2 billion inthat year.An already complicated E&M worldis growing ever more so. Decisionmakers need data of unprecedenteddetail and granularity to navigatethis world and inform their businessplans. Within these pages are some ofour many findings from such data –the Entertainment and media Outlook2018-2022 – an African perspective.10PwC

1. OverviewEntertainment and media by segmentImproved medium-term prospects after a slow 2017South Africa: Entertainment and media spending by segment, 2013–2022 (R millions)South AfricaCategoryBooksHistorical data20133 832YOY growth (%)Business-tobusiness8 451YOY growth (%)Cinema1 468YOY growth (%)Internet26 357YOY growth (%)Magazines8 691YOY growth (%)Music and podcasts1 968YOY growth (%)Newspapers9 288YOY growth (%)Out-of-home4 105YOY growth (%)Radio3 755YOY growth (%)TV and video24 478YOY growth (%)Video games1 691YOY growth (%)E-sports3YOY growth (%)VRYOY growth (%)TotalYOY growth (%)020142015Forecast data20162017201820192020CAGR %202120223 8283 8123 8183 8283 8493 8713 8803 8823 886-0.1%-0.4%0.2%0.3%0.6%0.5%0.2%0.0%0.1%8 9689 3309 68610 03210 35910 66910 95011 20211 4316.1%4.0%3.8%3.6%3.3%3.0%2.6%2.3%2.0%1 5021 7141 7821 7521 8241 9011 9772 0512 1252.4%14.1%4.0%-1.7%4.1%4.2%4.0%3.8%3.6%29 92338 98746 31453 45760 75168 33876 07683 80191 23013.5%30.3%18.8%15.4%13.6%12.5%11.3%10.2%8.9%9 2129 5099 0608 7888 5838 4368 3088 2018 1286.0%3.2%-4.7%-3.0%-2.3%-1.7%-1.5%-1.3%-0.9%2 0852 1102 1762 2532 4042 6062 8323 0533 2726.0%1.2%3.1%3.5%6.7%8.4%8.7%7.8%7.2%9 0759 0268 8938 6338 4078 0907 7667 3817 032-2.3%-0.5%-1.5%-2.9%-2.6%-3.8%-4.0%-5.0%-4.7%4 1254 2024 3594 4084 5094 6054 7094 8084 9040.5%1.9%3.7%1.1%2.3%2.1%2.3%2.1%2.0%3 9724 1774 1724 2644 4394 6174 7964 9745 1515.8%5.2%-0.1%2.2%4.1%4.0%3.9%3.7%3.6%25 61528 15331 08732 20534 37936 29638 04839 48740 7594.6%9.9%10.4%3.6%6.7%5.6%4.8%3.8%3.2%1 9862 2912 6193 0603 5554 0984 6995 3866 %-4.0%2.2%3.9%4.8%15.0%29.0%55.0%92 425 98 289 110 863 121 035 129 207 139 021 148 893 158 733 168 199 177 2456.3%12.8%9.2%6.8%7.6%7.1%6.6%6.0%5.4%6.5%Notes: 2013–2017 figures have been updated to reflect the most recently available financial information.Newspaper, directory, consumer magazine, trade magazine, e-sports streaming advertising, podcast advertising and online TV advertising areincluded in their respective segments and also in Internet advertising, but only once in the overall total.Professional books is counted in business-to-business and book publishing, but only once in the overall total.Trade magazines is counted in business-to-business and magazine publishing, but only once in the overall total.E-sports consumer contribution is counted in e-sports and video games online/microtransaction revenue, but only once in the overall total.App-based social/casual gaming revenue is counted in video games and end-user app spend, but only once in the overall total.Music streaming advertising revenue is counted in music and Internet advertising, but only once in the overall total.Sources: Entertainment and media outlook: 2018–2022, An African perspective, PwC, Ovum, www.pwc.co.za/outlookEntertainment and media outlook: 2018 – 2022 An African perspective11PwC

1. OverviewFigure 1:South Africa: E&M revenue (R millions) and year-on-yeargrowth (%), 2013–2017Total Year-on-yeargrowth (%)140 00014%120 00012%100 00010%80 0008%60 0006%40 0004%20 0002%0201320142015201620170%Sources: Entertainment and media outlook: 2018–2022, An African perspective, PwC, Ovum,www.pwc.co.za/outlookSubtracting Internet access revenue from the equation demonstrates just howdifficult true E&M growth was in 2017, with a year-on-year rise of just 2.7%.With organic growth opportunities in Internet connections starting to fadetowards the end of the forecast period, it appears overall E&M revenue growthwill be less reliant on Internet access revenue, but by then the latter will havedone its work – with robust digital networks in place, digital E&M spendbecomes increasingly feasible for large swathes of the population.Respectablegrowth forecasteven withoutInternet accessFigure 2:South Africa: E&M revenue growth (with and withoutInternet access), real and nominal GDP growth (%),2017–2022Nominal GDPgrowth10%8%E&M revenuegrowth6%E&M revenuegrowth withoutaccess4%Real GDPgrowth2%2017201820192020202120220%Sources: Entertainment and media outlook: 2018–2022, An African perspective, PwC, Ovum,www.pwc.co.za/outlookEntertainment and media outlook: 2018 – 2022 An African perspective12PwC

1. OverviewOnce again South Africa lags the Middle East and Africa (MEA) grouping interms of growth rates, but as one of its most mature members, this is to beexpected. But equally, South Africa exceeds the growth rate of the EMEA area,with Western Europe’s struggle for expansion bringing the grouping down.South Africabisects EMEAand MEAFigure 3:South Africa: E&M revenue growth (with and withoutInternet access), real and nominal GDP growth (%),2017–202215%Middle East &Africa revenuegrowthSouth AfricaE&M revenuegrowth10%EMEA 20%Sources: Entertainment and media outlook: 2018–2022, An African perspective, PwC, Ovum,www.pwc.co.za/outlookEntertainment and media outlook: 2018 – 2022 An African perspective13PwC

1. OverviewSouth Africa’s ranking in the global E&M marketThis year’s global quadrant considers countries with Internet access revenueexcluded, since its inclusion was leading to some countries wildly skewingthe scale. On this rebalanced quadrant, South Africa falls just short of beingpositioned in the desirable top-right sector, as gains in digital revenue are notquite doing enough to circumvent the lag caused by declining print segments.South African growth without Internet accessrevenue falls just short of the top parametersFigure 4:Total E&M revenue without Internet access (US billions) in 2022 vs 2017–2022 CAGR1 000USAChinaJapanTotal E&M revenue 2022 (US billions)100GermanyFranceUKSouth wayRussiaIndonesiaMexicoTurkeyThailandSOUTH AFRICADenmarkHong Kong Rest of MENAMalaysiaColombiaFinlandNew gentinaPhilippinesSaudi %6.0%8.0%10.0%12.0%CAGR 2017 – 22 (%)Sources: Entertainment and media outlook: 2018–2022, An African perspective, PwC, Ovum, www.pwc.co.za/outlookInternet access revenue as aproportion of total E&M revenue isnow set to make more modest gainsover the forecast period. Between2014 and 2015 it jumped as muchas 4.2 percentage points, but inEntertainment and media outlook: 2018 – 2022 An African perspective142022 this will have slowed to a 1.3percentage-point yearly gain. Thisis to be expected in a year whenmobile Internet penetration willhave reached 75.3%, comparable tothe present position of Canada, forexample.PwC

1. OverviewHowever, one meaningful tipping point will be reached in 2020. Thanks inpart to the addition of consumer spend on apps, the total digital share of E&Mspending will exceed 50% in 2020, transforming ‘digital-first’ from standardbusiness strategy to lived reality.Figure 5:Digital tippingpoint to hit by2020South Africa: Internet access share and total digital shareof E&M spending, 2013–2022 .9%36.1%44.5%33.5%41.0%26.7%32.4%25%30.1%Total digitalshare of E&Mspending30.9%37.3%Internet accessshare of E&Mspending2013 2014 2015 2016 2017 2018 2019 2020 2021 2022Sources: Entertainment and media outlook: 2018-2022, An African perspective, PwC, Ovum,www.pwc.co.za/outlookFigure 6:South Africa: Fastest- and slowest-growing digital and nondigitalcategories, 2017–2022 CAGR (%)Books (nondigital)-10%0%10%20%30%40%50%60%VR (digital)CAGRCAGR55.0%-0.6%E-sports (digital)Out-of-home (nondigital)CAGRCAGR20.2%-2.1%Video games (digital)Magazines (nondigital)CAGRCAGR19.8%-2.8%TV and video (digital)Newspapers (nondigital)CAGRCAGR17.7%-4.7%Music and podcasts(digital)Video games (nondigital)CAGR-5.3%CAGR16.9%Sources: Entertainment and media outlook: 2018-2022, An African perspective, PwC, Ovum,www.pwc.co.za/outlookEntertainment and media outlook: 2018 – 2022 An African perspectiveThere is a striking differencein growth between digital andnondigital revenue, whichhave CAGRs of 11.4% and1.8% respectively. Put anotherway, digital revenue will addR41.3 billion and nondigitalrevenue R6.7 billion inabsolute terms to 2022. Thenondigital elements of fivedifferent segments – books,magazines, newspapers, OOHand video games – will alldecline to 2022.15By contrast, the digitalelements of nine differentsegments will see doubledigit CAGRs, topped by the55.0% CAGR seen in the VRmarket. The digital elementsof video games, one of thebiggest success stories, will addR3.3 billion in absolute growthover the next five years, thanksespecially to the runawayperformance of app-basedsocial/casual revenue.PwC

1. OverviewConsumer spendingSouth Africa will see a strong CAGR of 7.6% for consumer revenue to 2022,moving from R93.9 billion in 2017 to R135.7 billion in 2022.Beyond revenue from the Internet segment (buoyed by apps revenue) thereare many success stories, most notably that of video games, which will surpassbooks, magazines and B2B to become the third-highest contributing consumersegment. The streaming revolution has had positive implications for TV andvideo, and more strikingly, music, which is up for a healthy future after severalyears of depressed growth. Magazines and newspapers, the latter of which wasovertaken by video games in 2017, will see falls to 2022, however.Video games and music are two key success storiesSouth Africa: Consumer E&M spending, 2013–2022 (R millions)South AfricaCategoryBooksHistorical data201320143 832YOY growth (%)Business-to-business4 174YOY growth (%)Cinema945YOY growth (%)Internet23 882YOY growth (%)Magazines5 007YOY growth (%)Music and podcasts1 743YOY growth (%)Newspapers2 644YOY growth (%)TV and video18 210YOY growth (%)Video games1 658YOY growth (%)E-sports1YOY growth (%)VRYOY growth (%)Total consumerYOY growth (%)02015Forecast data20162017201820192020CAGR %202120223 8283 8123 8183 8283 8493 8713 8803 8823 886-0.1%-0.4%0.2%0.3%0.6%0.5%0.2%0.0%0.1%4 5154 6974 9075 09052715 4385 5875 7195 8338.2%4.0%4.5%3.7%3.6%3.2%2.8%2.4%2.0%9411 1131 1711 19312351 2821 3281 3731 417-0.4%18.3%5.2%1.8%3.6%3.8%3.6%3.3%3.2%26 86835 20341 90748 32154 83061 57668 40775 23381 78612.5%31.0%19.0%15.3%13.5%12.3%11.1%10.0%8.7%5 4235 6095 3105 1134 9594 8334 7094 5964 5008.3%3.4%-5.3%-3.7%-3.0%-2.5%-2.6%-2.4%-2.1%1 8371 8301 8461 8581 9302 0492 1892 3222 4585.4%-0.4%0.9%0.6%3.9%6.2%6.9%6.1%5.8%2 6672 6652 6442 6062 5542 4882 4082 %19 17721 06823 70024 73326 48828 13029 61830 75231 7615.3%9.9%12.5%4.4%7.1%6.2%5.3%3.8%3.3%1 9482 2472 5632 9973 4854 0224 6175 2996 1%29.6%55.0%61 444 66 354 77 116 86 404 93 923 102 423 111 122 119 707 127 923 135 es: Entertainment and media outlook: 2018-2022, An African perspective, PwC, Ovum, www.pwc.co.za/outlookEntertainment and media outlook: 2018 – 2022 An African perspective16PwC

1. OverviewFigure 7:South Africa: Selected consumer revenue lines, 2013–2022(R millions)Business-tobusiness15 000Music andpodcasts10 000CinemaVideo games5 000Books,magazines andnewspapers02013 2014 2015 2016 2017 2018 2019 2020 2021 2022Sources: Entertainment and media outlook: 2018-2022, An African perspective, PwC, Ovum,www.pwc.co.za/outlookThe dizzying rise of video games merits further attention. App-based social/casual revenue has exploded – in 2013 it accounted for 17% of total videogames revenue, and 46% in 2017, with the forecast for 2022 being 70%. Thishas been driven by the increasing proliferation of smartphones, providingan accessible and affordable route into the gaming market for millions ofconsumers.Figure 8:South Africa: App-based social/casual share of videogames 0182019202020212022Sources: Entertainment and media outlook: 2018-2022, An African perspective, PwC, Ovum,www.pwc.co.za/outlookEntertainment and media outlook: 2018 – 2022 An African perspective17PwC

1. OverviewDevelopers too have become more skilled at implementing ‘freemium’mechanics offering a zero-cost point of entry, but luring regularmicrotransactions from an increasing proportion of their users. With theboost further given by the wildly popular ‘battle royale’-type games reachingmobiles – Fortnite Battle Royale has already launched on iOS, and soon Androidwill follow suit – and the increased graphical capabilities afforded by evermore sophisticated phones and faster broadband speeds, this transformationof millions of consumers into ‘gamers’ is set to deliver growth far above theconsumer average.Smartphonesurge and risein speeds turnsSouth Africansinto gamersFigure 9:SmartphoneconnectionsMobile Internetconnections at3G or aboveMobile Internetconnections at4G or aboveSouth Africa: Smartphone connections (millions) andproportion of mobile Internet connections at 3G, 4G andabove (%), 30%2020%1010%02013 2014 2015 2016 2017 2018 2019 2020 2021 20220%Sources: Entertainment and media outlook: 2018–2022, An African perspective, PwC, Ovum,www.pwc.co.za/outlookThe related area of virtual reality (VR) is also providing a boost: VR gamingrevenue, alongside VR video revenue, will help add nearly R600 million toconsumer revenue over the forecast period. Although, with the install baseof VR headsets currently still low, VR companies are focussing on servicesfor businesses to forge a profit. As developers gradually master the medium’spotential, its revenue is likely to rapidly start building critical mass. Theexceptional CAGR of 55.0% currently comes off a low base, but reflects theexcitement in this space.As expected, TV and video will also be significant drivers of consumer revenue.Internet video’s success continues to

Entertainment and media outlook: 2018 - 2022 An African perspective 8 PwC Snapshot South Africa, 2017 (US millions) 2017 Total E&M revenue 9 799 Digital E&M revenue 4 358 Nondigital E&M revenue 5 441 Consumer revenue 7 123 Internet access revenue 3 534 Advertising revenue 2 676 Largest advertising segment: TV and video 567

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