Two PwC reports identify headwinds and wins for the entertainment and media industry.
The global entertainment and media industry (E&M) is expected to grow to $3.4-trillion by 2028, which means greater revenue streams in advertising, streaming and emerging markets. For South Africa, this means a hike in digital advertising revenue from R26.3-billion in 2023 to R38.1-billion within the next four years, but for print media the signs are not good.
Two reports by PwC - the Global Entertainment & Media Outlook 2024-2028 and the country-specific Africa Entertainment & Media Outlook 2023-2027 - reveal how economic headwinds and technological disruptions are likely to affect the E&M sectors in years to come.
Global outlook
The first report notes that total global revenue rose 5% to $2.8-trillion in 2023, which is easily outpacing overall economic growth. Over the next five years, the E&M sector, which will grow at a muted 3.9% compound annual growth rate, reaching $3.4-trillion in revenue by 2028, will face significant challenges and opportunities.
Challenges include the impact of digital ecosystems on traditional linear value chains, the plateauing of the content boom driven by streaming services and generative AI, which is fuelling the overall uncertainty.
Despite these headwinds, by...
