Browsing: Sauti Sol

Davido, Burna boy, rayvanny, Diamond Platnumz,

Music and film are now turning the creative and entertainment tide across the continent. The creatives in Africa are now crowned and featured by other established performers in the developed world, which signals the potential of the creative industry in Africa. 

There are more than 2,500 films made each year in Nigeria’s film hub, “Nollywood”. As modern filmmaking technologies expand across Africa, more works are now done in other developing industries in East and Southern Africa. 

The United Nations Education, Scientific and Cultural Organization (UNESCO) find the audio-visual sector to be a honeypot, but it is largely untapped. The industry is estimated to account for $5 billion in revenue in Africa out of a $20 billion potential and employ at least 5 million people. 

On a global scale, cultural and creative industries are estimated to generate about $2.25 trillion annually, 3 per cent of global GDP, and employ around 30 million people worldwide (UNESCO). 

Two decades ago, music was not considered a serious career in Kenya. Over the years, artists have transitioned from selling their music on compact discs (CDs) to streaming on YouTube and holding live performances. The rising technology has played a big part in this.

According to a report released by PriceWaterhouseCoopers, the Kenyan entertainment industry is ranked third in Africa in revenue. In 2019, it was estimated that the industry raked in Sh 347 billion.

Statista, a market and consumer data company, predicts that the entertainment revenues in Kenya will hit US$2.96 billion (Sh 353 billion) in 2023.