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Local content demand drives South Africa TV broadcasting market, report
The South Africa TV Broadcasting Market is poised for significant growth in the forecasted years due to the rapid increase in household television penetration. This is according to a report by Research and Markets.
Furthermore, the growing demand for local content and the rise in pay TV membership are driving the TV broadcasting market in South Africa. Technological advancements have led to brands offering TV broadcasting services through IPTV, utilizing the Internet for live and on-demand TV shows and videos.
The surge in sports popularity, such as cricket, football, and rugby, is also contributing to the growth of the TV broadcasting market. The expansion of the South Africa television broadcasting market is expected due to the rising demand for high-quality video content and the emergence of technologies like the Internet of Things.
The market for television broadcasting services is also set to develop as businesses aim to reach larger audiences and potential clients. The rising usage of smart TVs and evolving lifestyles are fueling the demand for digital content and cable subscriptions, while cable operators lead the revolution by airing popular TV shows, films, documentaries, news, sports, and other programs.
Increasing Television Penetration is Fueling Market Growth
According to the report "General Household Survey 2020" provided by Statistics South Africa, around 89.2% of households own a television. Thus, with the increase in television penetration in households in South Africa, the market will witness significant growth in the forecasted years.
Moreover, as per the data provided by World Bank, the per capita income in the country is rising at 3.6% annually. Thus, with the increasing per capita income, people will have more purchasing power which will significantly result in increased demand for television and will affect the TV broadcasting market in the country.
Growing Pay TV Subscribers are Driving the Market Growth
Owing to the rising number of pay TV subscribers in South Africa, the market is anticipated to rise during the forecasted period. According to MultiChoice Group Ltd, a market player in the TV broadcasting market, the number of households with a linear pay-tv subscription for the group (measured on a 90-day active basis) climbed by 900,000 to 21.8 million, with 12.8 million in the rest of Africa and 9 million in South Africa, in 2022.
Moreover, the country will add around 18-20 million pay-TV subscribers by 2027. Thus, with the rise in pay TV subscribers, the market of TV broadcasting in South Africa will rise.
High Demand for Local Content to Fuel the Market Growth
The demand for TV broadcasting in South Africa is increasing as a result of the growing desire for local programming that reflects the culture and values of the country in the local language.
According to a survey done by Futurefact in 2019, in South Africa, 86% of respondents indicated "they enjoy watching TV shows about the country's social and cultural values." Thus, to grab a large viewership, many channels have started focusing on local content, which is significantly forcing people to buy pay-Tv subscriptions, further affecting the market of TV broadcasting in South Africa.
