TV & Video - Western Africa | Statista Market Forecast

Revenue in the TV & Video market market in Western Africa is projected to reach US$3.69bn in 2024.
Revenue is expected to exhibit an annual growth rate (CAGR 2024-2029) of 5.62%, leading to a projected market volume of US$4.84bn by 2029.
The largest market within this market is Traditional TV & Home Video, which is anticipated to have a market volume of US$2.18bn in 2024.
In a global context, the most substantial revenue will be generated the United States, which is estimated to be US$280.30bn in 2024.
In the TV & Video market market in Western Africa, the number of users is expected to reach 339.6m users by 2029.
User penetration in this market is forecasted to be at 70.9% in 2024.
The average revenue per user (ARPU) in Western Africa is projected to be US$12.57 in 2024.
In Nigeria, the TV & Video market is increasingly shifting towards digital streaming platforms, reflecting a growing preference for on-demand content among urban audiences.

Definition:

The TV & Video market encompasses the diverse landscape of audiovisual content delivery, including traditional broadcast television, streaming services, and digital platforms. This market offers a vast array of content, from TV shows and movies to live sports events and news broadcasts, catering to a wide range of viewer interests. As technology evolves, so too does the way we consume video content, with traditional linear TV being complemented by on-demand and over-the-top (OTT) streaming options. This evolution reflects changing consumer preferences and the increasing accessibility of internet-connected devices, providing viewers with greater flexibility and choice in how they access and enjoy their favorite programs.

Structure:

The TV & Video market encompasses both Traditional TV & Home Video and OTT Video. Traditional TV & Home Video involves scheduled programming and physical media distribution like DVDs. OTT Video delivers content over the internet, offering on-demand access to a wide range of options.

Additional Information:

The market comprises revenues, ad spendings, viewers, average revenue per user, and penetration rates. Revenues are generated through purchases and subscription payments. Key players in the market are companies, such as The Walt Disney Company, Netflix, or Amazon.

Pay-TV subscriptions such as DirectTV, AT&T TV, and Sky
Over-the-top services such as Netflix, Hulu, iTunes, and Pluto.tv
Physical home video such as DVD & Blu-ray
Traditional TV advertising such as commercial breaks
Public TV licence fees such as BBC TV License in the UK and the Rundfunkbeitrag in Germany

Movie theater ticket sales such as from AMC Theatres
Public license fees collected in the form of a tax such as income tax in the Nordic countries

The TV & 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 an increasing demand for streaming services and online video platforms. This can be attributed to the growing availability of affordable smartphones and internet access, which has made it easier for consumers to access and enjoy digital content. Furthermore, the younger population in Western Africa is more inclined towards consuming content on-the-go, making mobile devices the preferred medium for watching TV shows and videos. Trends in the market are also contributing to the growth of the TV & Video industry in Western Africa. One of the key trends is the rise of local content production and distribution. Western Africa has a rich cultural heritage, and there is a growing demand for content that reflects the local culture and traditions. This has led to the emergence of local production companies and streaming platforms that focus on creating and distributing African content. Additionally, international streaming services are also recognizing the potential of the Western African market and are investing in creating original content specifically tailored to the local audience. Local special circumstances in Western Africa, such as the increasing urbanization and rising middle class, are also driving the growth of the TV & Video market. As more people move to cities and experience improved living standards, there is a greater demand for entertainment options. TV and video content provides a convenient and affordable form of entertainment for individuals and families, making it a popular choice in Western Africa. Underlying macroeconomic factors, such as economic growth and increasing disposable income, are also contributing to the development of the TV & Video market in Western Africa. As the economy continues to grow, more people have the means to afford TVs, smartphones, and internet access, leading to a larger customer base for the industry. Additionally, the increasing availability of affordable data plans and the expansion of telecommunications infrastructure have made it easier for consumers to access digital content, further fueling the growth of the market. In conclusion, the TV & Video market in Western Africa is experiencing significant growth and development due to changing customer preferences, emerging trends, local special circumstances, and underlying macroeconomic factors. As digital content consumption continues to rise and local production and distribution thrive, the industry is poised for further expansion 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.

This report presents a comprehensive analysis and additional information on the Advertising & Media market, in a PDF format.

Online video streaming has visibly transformed the global media landscape and impacted viewing behavior around the world. Driven by rapid leaps in internet adoption, widespread availability of mobile devices, and the ever-increasing popularity of online video content, the global video streaming market has experienced unprecedented growth in the last decade. In 2023, the over-the-top (OTT) video revenue reached an estimated 288 billion U.S. dollars, with the United States accounting for the largest share of revenue worldwide. Considering that the list of international streaming services and the catalog of online video content continue to expand at a rapid pace, the number of OTT users worldwide is expected to reach new heights in the future.