More African consumers are paying for streaming content

Africa’s entertainment space, including video streaming services, is in a rapid growth phase. Spurred by a young population and increasing internet connectivity, it is gaining a larger audience and receiving record amounts of funding.

One of the earliest entrants in video streaming in the continent in 2011 was irokotv , which shows Nollywood films. Today, Showmax, which has both local and foreign content, is a dominant local player. It was launched in 2016.

Foreign entertainment companies have looked to tap into local markets, with Netflix arriving in 2016 and Amazon Prime Video last year. Netflix is customizing content for the region, with African originals such as King of Boys, Nigeria’s first original series for the streaming platform which debuts this month.

With a population of more than 1 billion people, Africa presents a potential significant audience for foreign video streaming services, although perhaps not at the rate of growth which other regions present. Globally, Netflix has about 208 million subscribers, while Disney+ has 116 million.

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