Is Africa The New Face Of OTT-TV And Video-On-Demand (VoD) Market Penetration And Success
Africa has emerged as new face for the VoD market penetration and success. Following the success of starts-up like Iroko TV, Tuluntulu, BuniTV and Afrostream, Africa has proven its capability of competing with its more technologically advanced counterparts.
With Africa’s population currently standing at 1.216 billion (2016 census), this makes Africa the world's second-largest and second-most-populous continent. This astronomical figure simply cannot be ignored and renowned brands worldwide are fully aware of this.
Video-On-Demand in Africa has been boosted the integration of Social Media and Internet explosion has introduced and fully opened up Africa to the world of easy and convenient content viewing. This in turn has greatly increased the market share, as well as the growth and expansion of OTT TV & VoD services for the African market.
Africa - A Market Unique Like No Other - The African VOD mobile marketplace is very unique and quite different. This has proven to be an advantage with regards to offering VoD Services in Africa as VoD start-ups target specific audience group based on age, culture and program preference. VoD start-ups are also able to streamline their market to a single location or a broader region.
The Sub-Saharan Africa telecoms service market will be worth $51 billion in 2021, up from $41 billion in 2015. This is according to a recent report by market analyst firm Analysys Mason, which notes that telecoms revenue in the region will grow at a compound annual growth rate of 4.1% during 2015 to 2021. Global revenues from Video on-Demand (VoD) services are set to reach US$30 billion by 2020. Mobile penetration and smartphones adoption rates in Africa has enabled the success and expansion of OTT and VoD services in Africa. With more smartphones being designed to be more affordable, built with thinner, faster lightweight processors, mobile network broadcasting has revolutionised video delivery with LTE broadcast.
Infrastructure And Investments Markers For Africa’s OTT And VoD Industry - Africa’s TV Ecosystem has opened up new developments and latest trends. For the broadcast sectors where PayTV penetrations are still low, new and emerging business models for OTT and VOD services are being developed and tested and this has shown huge potential.