A fast evolving industry with changing consumer patterns

The media industry in the African region is experiencing significant growth and transformation in 2023 and 2024. According to PwC’s “Africa Entertainment and Media Outlook 2023-2027”, the industry is seeing increased consumer and advertiser spending, driven by the rise of digital platforms and the demand for diverse content. The report highlights the importance of innovation and adaptation to stay competitive in a rapidly evolving market.

Alinah Motaung, PwC Africa Entertainment and Media Leader, states the following: “International and domestic players alike are investing in local content and services to attract audiences and keep them engaged in an increasingly crowded landscape. The entertainment and media industry has always been a creative endeavour. In the coming years, armed with powerful technology, E&M leaders will have to be more creative about how they create, distribute and monetise products and services to achieve sustained growth.”

In Mauritius, the media sector has also shown strong performance. Here are the top five companies ranked by turnover in 2023. Firstly, MC Vision Ltd achieved the highest turnover of Rs 1,247.6 million, but reported a significant loss of Rs 1,235.3 million.

Secondly, the Mauritius Broadcasting Corporation reported a turnover of Rs 922.3 million, but faced a substantial loss of Rs 57.2 million. Thirdly, Radio Plus Ltd posted a turnover of Rs 139.2 million and a profit before tax (PBT) of Rs 21.3 million. As for La Sentinelle Ltd, it achieved a turnover of Rs 134.1 million and a PBT of Rs 27.9 million. Lastly, Mediacom Ltd reported a turnover of Rs 125.5 million and a PBT of Rs 1,414.4 million, indicating strong profitability.

These figures reflect the challenges and opportunities within the media sector. While some companies are achieving high turnovers, profitability remains a concern for many. The industry’s focus on digital transformation and sustainable practices will be crucial for future growth and success. The media industry in the African region is on a positive trajectory, with significant growth driven by digital innovation and changing consumer preferences. However, companies must continue to adapt and innovate to overcome financial challenges and ensure long-term sustainability.