The over-the-top (OTT) TV and video market in Africa is set to experience significant growth in the coming years, according to a new market forecast report.
The report, which was released by Research and Markets, predicts that the number of African households with at least one subscription to an OTT TV or video service will increase to 7% by 2028, up from just 1% in 2023.
In addition to local content, the African OTT TV and video market growth is driven by the increasing availability of high-speed internet, the proliferation of affordable smartphones and other mobile devices, and the emergence of mobile-first platforms that are optimised for use on these devices.
“With the majority of Africans accessing the internet via their smartphones, many OTT TV and video providers are developing mobile-first platforms that are optimised for use on mobile devices. This is expected to drive further growth in the market, as more and more consumers look to access their favourite shows and movies on their smartphones.”
Amazon, Netflix, Showmax, Startimes and others to fuel growth of Africa’s OTT TV and video market
The report highlights the growing demand for on-demand video content in Africa, as more and more consumers look to access their favourite shows and movies online. With the increasing availability of high-speed internet and the proliferation of affordable smartphones and other devices, OTT TV and video services are becoming an increasingly popular option for African consumers.
A number of key players in the African OTT TV and video market that are expected to continue to drive growth include Amazon, Apple, Disney, Netflix, Paramount, Showmax, and Startimes. These companies are expected to continue investing heavily in the African market, as they look to tap into the region’s growing demand for digital entertainment.
One of the major factors driving the growth of the African OTT TV and video market is the increasing availability of local content. As more African content becomes available on these platforms, consumers are likely to become even more engaged with OTT TV and video services. This, in turn, is expected to drive further growth in the market, as more and more consumers sign up for subscriptions.
Another important trend in the African OTT TV and video market is the emergence of mobile-first platforms. With the majority of Africans accessing the internet via their smartphones, many OTT TV and video providers are developing mobile-first platforms that are optimised for use on mobile devices. This is expected to drive further growth in the market, as more and more consumers look to access their favourite shows and movies on their smartphones.
“While there are certainly challenges to be overcome, the overall outlook for the market is positive, and companies like Amazon, Apple, Disney, Netflix, Paramount, Showmax, and Startimes are likely to play a major role in shaping its future, according to the report authors.”
However, the report also highlights a number of challenges facing the African OTT TV and video market. These include the high cost of data, which can make it difficult for some consumers to access these services, as well as issues related to piracy and copyright infringement. In addition, the lack of reliable payment infrastructure in some parts of Africa can make it difficult for OTT TV and video providers to collect payments from subscribers.
Despite these challenges, the overall outlook for the African OTT TV and video market is positive. With increasing demand for on-demand video content, and the growing availability of local content and mobile-first platforms, the market is expected to experience rapid growth in the coming years. As more and more consumers become aware of these services and begin to use them, the African OTT TV and video market is likely to become an increasingly important part of the global entertainment industry.
While there are certainly challenges to be overcome, the overall outlook for the market is positive, and companies like Amazon, Apple, Disney, Netflix, Paramount, Showmax, and Startimes are likely to play a major role in shaping its future, according to the report authors.
The report also highlights the fact that the African market is still relatively fragmented, with a large number of local and regional players competing with international giants like Netflix and Amazon. This has led to a situation where consumers have a wide range of options to choose from when it comes to OTT TV and video services. While this can be a positive thing in terms of providing choice and diversity, it can also lead to a certain amount of confusion and fragmentation within the market.
Another important trend is the increasing availability of local content on OTT TV and video platforms. As more and more African content becomes available on these platforms, consumers are likely to become even more engaged with OTT TV and video services. This, in turn, is expected to drive further growth in the market, as more and more consumers sign up for subscriptions.
Despite the challenges, the overall outlook for the African OTT TV and video market is positive. With increasing demand for on-demand video content, and the growing availability of local content and mobile-first platforms, the market is expected to experience rapid growth in the coming years. As more and more consumers become aware of these services and begin to use them, the African OTT TV and video market is likely to become an increasingly important part of the global entertainment industry.
While the African OTT TV and video market is still in its early stages, the potential for growth is enormous, and companies that are able to navigate the complex and rapidly changing landscape of the African entertainment industry are likely to reap significant rewards in the years to come, the report authors say.
