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The Future Of The Entertainment Industry In Kenya

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The Future Of The Entertainment Industry In Kenya

The future of entertainment Industry in Kenya

The entertainment industry in Kenya is set to improve in the next five years. Kenyan entertainment, media, and advertising companies will enjoy a boost in income as people start to trade their television sets for streaming services. According to a report by PWC, the Kenyan entertainment industry can expect an upswing in revenue as consumers spend more on entertainment.

Recent reports suggest that the Kenyan Entertainment Industry is on steady growth. Furthermore, it is forecasted to be worth 900 million USD by 2025. This means that the Kenyan entertainment industry will overtake Nigeria. That is to say, Kenya will become the second-largest country in Africa in entertainment after South Africa.

The Outlook Of The Entertainment Industry in Kenya

Kenya saw advertising revenue fall by 28% as outdoor advertising fell sharply as companies cut spending during the Covid-19 pandemic. In 2020, the pandemic triggered the drop in overall E&M revenue in the history of this research. And it accelerated changes in consumer behaviour to drive digital disruption and industry inflexion points over several years. In 2021, these inflexion points morphed and merged into power shifts reshaping the industry. According to PwC

Also, the report shows a shift from traditional media towards digital-based ones. Streaming movies, digital advertising, games and podcasts are other factors for this change. Due to this shift, we see individual influencers competing against established companies for advertising revenues.

Social media advertising has grown to become a source of marketing. Micro influencer growth enables advertisers to target niche markets and reach a broader audience. Print ads’ high cost and limited availability have encouraged the adoption of digital and social media channels and their increasingly modern targeting capabilities. Kenya will be a key revenue driver for the media industry in Africa due to high internet and smartphone penetration. Consumer spending on E&M fell by 5.5% in 2020. However, PwC estimates a 3.9% growth in the entertainment industry by 2025.

Internet Advertising

Internet marketing and spending rose through Sh3 trillion in 2020 to attain Sh3.four trillion, a 9% increase. Although slower than the 16% according to the report recorded in 2019, this nevertheless represents a stunning increase in an always-growing base. The pandemic had a personal effect on this sector.

With internet marketing set to rise by 7.7% in 2025, traditional marketing and sales are also predicted to increase from KES 6 trillion in 2020 to KES 8 trillion in 2025. It is essential to mention that this past year has been a watershed moment in international media regulations with the emergence of more competitive pushback towards the massive virtual systems on many different fronts.

During the pandemic, strength shifted to streaming. Companies like Netflix, Google, Facebook and Amazon reaped big because people spent more time online.

There you have it! Join Kamata Entertainment School and know more about the entertainment business and how  to succeed in the industry.

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