Numbers at hand there is no doubt regarding the potential of the iGaming industry on African soil. Apart from the sheer size of the population – with Africa being the second most populated continent – the continent provides a very interesting scenario also from a technological perspective, with the population’s tendency to opt for mobile solutions and skip almost entirely the desktop phase.
But apart from the emergence of the iGaming industry, how is the entire entertainment industry fairing on the continent? A report recently published by Price Waterhouse Coopers clearly indicates that the continent’s entertainment industry is expected to grow exponentially over the next few years. In fact it is considered as one of the major growth factors for the whole African economy.
One of the main factors that will drive this exponential growth is down to the fact that the boundaries that have until now distinguished and set apart the technology and telecommunications industries are blurring in the battle for the attention of the consumer in a world that is rapidly digitising. And this convergence is more easily understandable as one digs deeper in the report.
As PwC indicates: “consumers are choosing offerings that combine an outstanding and personalised user experience with an intuitive interface and easy access.” A scenario that is setting up a new basis in what essentially sees the consumer preferences placed at the center of the market driving factors.
Referring to the convergence of the technology and telecommunications industries in order to deliver a better customer experience, PwC’s Vicki Myburgh states that she expects that “the pace of change isn’t going to let up anytime soon. New and emerging technologies such as artificial intelligence and augmented reality will continue to redefine the battleground. In an era when faith in many industries is at a historically low ebb and regulators are targeting media businesses’ use of data, the ability to build and sustain consumer trust is becoming a vital differentiator.”
A drastic evolution that has resulted in a new crop of more exigent consumers who essentially want more flexibility, freedom and convenience in when, where and how they interact with their preferred content.
The exponential growth of the the whole African entertainment industry, together with the embracing of new technologies, means that to succeed in the future that’s taking shape, companies must re-envision every aspect of what they do and how they do it. It’s about having, or having access to, the right technology and excellent content, which is delivered in a cost-effective manner to an engaged audience that trusts the brand.