Media - Tanzania

Tanzania

In Tanzania, revenue in the Media market is projected to reach US$1,004.00m in 2024.
The largest market within this market in Tanzania is Games, which is expected to have a market volume of US$382.50m in the same year.
In a global context, the highest revenue will be generated the United States, with an anticipated figure of US$541.20bn in 2024.
Furthermore, it is estimated that in the Media market, 22.04% of total revenues in Tanzania will be generated through digital Media market by 2029.
Tanzania's media landscape is increasingly embracing digital platforms, reflecting a growing appetite for diverse content among its youthful population.

Key regions: United States, China, Japan, United Kingdom, Germany

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Analyst Opinion

The Media market in Tanzania is experiencing significant growth and development in recent years.

Customer preferences: Customers in Tanzania are increasingly turning to digital media platforms for their entertainment and information needs. This shift in preference can be attributed to several factors, including the increasing availability of affordable smartphones and internet connectivity. Additionally, the younger population in Tanzania is more tech-savvy and is more inclined to consume media through digital channels.

Trends in the market: One of the key trends in the media market in Tanzania is the rise of online streaming platforms. Streaming services such as Netflix and Amazon Prime Video have gained popularity among Tanzanian consumers, who are looking for a wide range of content options and the convenience of watching their favorite shows and movies on-demand. This trend is also fueled by the growing middle class in Tanzania, which has more disposable income to spend on entertainment. Another trend in the media market is the increasing demand for local content. Tanzanian consumers are showing a preference for content that reflects their own culture and experiences. This has led to the growth of local production houses and the emergence of local content creators who are catering to this demand. The availability of local content not only provides entertainment options but also helps to preserve and promote Tanzanian culture.

Local special circumstances: Tanzania has a diverse media landscape, with a mix of public and private broadcasters. The government has taken steps to promote media freedom and encourage private investment in the sector. However, there are still challenges in terms of press freedom and censorship, which can impact the growth and development of the media market.

Underlying macroeconomic factors: The media market in Tanzania is also influenced by macroeconomic factors. The country has experienced steady economic growth in recent years, which has led to an increase in disposable income and consumer spending. This has created a favorable environment for media companies to invest in the market and cater to the growing demand for entertainment and information. In conclusion, the media market in Tanzania is witnessing significant growth and development, driven by changing customer preferences, the rise of digital platforms, and the demand for local content. The availability of affordable smartphones and internet connectivity has played a crucial role in shaping customer preferences and driving the adoption of digital media platforms. Additionally, the growing middle class and steady economic growth have created a favorable environment for media companies to invest in the market. However, challenges such as press freedom and censorship still exist and can impact the growth and development of the media market in Tanzania.

Methodology

Data coverage:

The data encompasses B2C enterprises. Figures are based on media spending (on traditional media as well as digital media). All monetary figures refer to consumer spending on digital goods or subscriptions in the respective segment. This spending factors in discounts, margins, and taxes.

Modeling approach / Market size:

Market sizes are determined through a bottom-up approach, building on specific predefined factors for each market segment. As a basis for evaluating markets, we use annual financial reports of the market-leading companies and industry associations, third-party studies and reports, survey results from our primary research (e.g., Consumer Insights), as well as performance factors (e.g., user penetration, price per product, usage). In addition, we use relevant key market indicators and data from country-specific associations, such as GDP, number of internet users, and internet consumption. This data helps us estimate the market size for each country individually.

Forecasts:

In our forecasts, we apply diverse forecasting techniques. The selection of forecasting techniques is based on the behavior of the relevant market. For example, the S-curve function and exponential trend smoothing are well suited for forecasting digital products and services due to the non-linear growth of technology adoption.

Additional notes:

The data is modeled using current exchange rates. The market is updated twice a year in case market dynamics change. The impact of the COVID-19 pandemic is considered at a country-specific level. The data is modeled using current exchange rates. The impact of the COVID-19 pandemic and the Russia-Ukraine war are considered at a country-specific level. The market is updated twice a year. In some cases, the data is updated on an ad hoc basis (e.g., when new, relevant data has been released or significant changes within the market have an impact on the projected development). Consumer Insights data is reweighted for representativeness.