Ennovate NG has discovered that globally, digital technologies and the Internet are transforming the media, entertainment and telecommunications industries. Companies like Facebook, Netflix, Google and Youtube established telecommunications giants across the world are competing with traditional broadcasters, cable and satellite operators to deliver content to end consumers. The Music industry has become digital and available on mobile phones. These dynamics are creating a new, global market for compelling music, TV, and film content.
Developing countries are claiming increasing shares of the global trade in entertainment products, in addition to growing their domestic markets. For players interested in growth prospects in entertainment and media on and from the African continent, Nigeria is key to conquering Africa as it continues to show why it has the potential to be Africa’s biggest entertainment market by value, having Africa’s largest population and strongly youth-skewed demographics. The recent unmeasured success of Nollywood movies and Nigerian urban music – in spite of poor structural support for the entertainment industry, suggests that successes, so far from an external point of view are just the beginning.
Further, the growth of pan-continental brands in Africa in sectors as diverse as telecommunications, banking and consumer products suggest that the continent will continue to experience an explosion, as other markets have, in the use of media and entertainment in marketing to drive product adoption and consumer engagement.
This confluence of factors presents a unique opportunity for anyone who has the vision; ambition and tenacity to absorb oneself in the opportunities which present themselves to leverage domestic demand and consolidate content creation and marketing power to address the immense new international opportunities on the horizon.
Technology and the consumer choice it has engendered are pushing the demand for media and entertainment products towards a single global market. As the success of a single global marketplace enabled by technology creates the Holy Grail for the entertainment industry – one platform for all products for all the consumers in the world. For the time-being, demand for TV, film and music content is being driven by new, well-financed competitors to broadcast, satellite and cable operators – fixed and mobile telecommunication operators and the major internet media aggregators.
Where you decide to stake your claim in this evolving real estate; how you endeavour to position your skills, and promote your vision and products will determine if you are ready to participate in the opportunities which presenting themselves in the media and entertainment industry in Africa.Read More