The value of the media and entertainment industry in Africa was estimated to be approximately $34 billion in 2018. This number is projected to grow to $50 billion by 2022. Growth is driven by factors such as increasing access to technology, a growing middle class, and an increase in local content production. 

The media and entertainment industry in Nigeria is largely driven by the film and television sector, known as Nollywood. It is the largest film industry in Africa, and third largest in the world, and is expected to grow at a compound annual growth rate of 10.5% from 2018 to 2023. Moreover, Nigeria’s music industry is thriving and with many stars enjoying global success. In Ghana, there is significant growth in its media and entertainment industry due to investments from the government and private sector. Its entertainment and media market is expected to grow at a CAGR of 9.4%. South Africa has the most developed media and entertainment market in the region, valued at USD 14.2 billion in 2018, and is expected to grow at a CAGR of 4.7%. Kenya is a rapidly growing media and entertainment market, with a thriving film, music, and digital media industry and is expected to grow at a CAGR of 9.2%. Cote d ‘Ivory and Senegal are both emerging countries in the media and entertainment industry, with growing investments and media outlets, with expected growth rates of 9.1% and 10.1% respectively.

There is now a shift towards digital media platforms and services, such as online streaming and digital distribution of music, movies and other content. There is also an increase in the production of local and regional content, as well as international co-productions. The music industry is growing with the increase in the production and distribution of local music.