Key regions: United Kingdom, Germany, Asia, South Korea, Japan
The OTT Video market in Western Africa is experiencing significant growth and development, driven by changing customer preferences, emerging trends, and local special circumstances. Customer preferences in Western Africa are shifting towards digital content consumption, with a growing demand for on-demand video streaming services. This is primarily due to the increasing availability of affordable smartphones and improved internet connectivity in the region. Consumers are seeking convenience and flexibility in accessing and watching their favorite movies, TV shows, and other video content, leading to a surge in the adoption of OTT video platforms. Trends in the market indicate a rise in local and regional content production, as well as partnerships between international streaming platforms and local content providers. This is driven by the desire to cater to the unique cultural preferences and tastes of the Western African audience. Additionally, there is a growing demand for mobile-friendly and data-efficient streaming options, as customers in the region often rely on mobile data plans with limited bandwidth. Local special circumstances, such as the prevalence of Nollywood and other regional film industries, contribute to the development of the OTT Video market in Western Africa. Nollywood, the Nigerian film industry, is the second-largest in the world in terms of output, producing a vast number of movies each year. The popularity of Nollywood films, as well as the cultural significance of local content, fuels the demand for OTT video platforms that offer a wide range of regional content options. Underlying macroeconomic factors also play a role in the growth of the OTT Video market in Western Africa. Economic development and rising disposable incomes in the region have led to an increase in consumer spending on entertainment and leisure activities. As a result, more individuals are willing to subscribe to OTT video services and pay for premium content. In conclusion, the OTT Video market in Western Africa is experiencing rapid growth and development due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. The demand for on-demand video streaming services, local content production, mobile-friendly streaming options, and affordable data plans are driving the expansion of the market in the region.
Data coverage:
The data encompasses B2C enterprises. Figures are based on Traditional TV & Home Video and OTT (over-the-top) Services. 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 / Segment size:
The segment size is determined through a bottom-up approach. 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) to analyze the markets. To estimate the segment size for each country individually, we use relevant key market indicators and data from country-specific industry associations, such as GDP, number of internet users, and internet consumption.Forecasts:
We apply a variety of forecasting techniques, depending on the behavior of the relevant segment. For instance, 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.
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