A media business plan is key in starting a new, expanding your current, or purchasing an existing media business. Our developments are used to generate a vision, secure funding, secure non-repayable business grants, attract team members and/or manage the company.
Entertainment and media revenue across South Africa, Nigeria and Kenya rebounded strongly in 2021 as all three markets, like the rest of the world, recovered from the effects of the Covid-19 pandemic, the latest Africa Entertainment and Media Outlook 2022 to 2026 depicts.
South Africa’s entertainment and media market exceeded the 2019 pre-Covid levels, with a total industry spend of R163-billion, representing 15.4% yearly growth, in 2021, according to a report compiled by PwC Africa.
While the 2021 yearly growth rates for the entertainment and media market in Nigeria remained below pre-Covid levels, a significant recovery is expected as the industry’s revenue is predicted to more than double in the period to 2026.
Overall, the vast entertainment and media ecosystem is growing more rapidly than the global economy as a whole, and increasingly, more people around the world are spending more of their time, attention and money on the complex and increasingly immersive entertainment and media experiences that are available to them, says PwC Africa entertainment and media leader Alinah Motaung.
The latest analysis of the industry’s performance in key African economies reveals that a more positive trajectory is in sight for the entertainment and media industry, which is a considerable economic driver in many African countries.
The Africa Entertainment and Media Outlook 2022 to 2026 further predicts that OTT video streaming revenue will increase rapidly over the next five years, with revenue growth to 2026 expected to outpace increases in television (TV) subscription revenue across all three markets in South Africa, Nigeria and Kenya.
While cinema’s post-Covid-19 recovery is well underway, with box office revenue in South Africa set to surpass 2019 levels in 2023, when it will reach R1.3-billion, 79.7% of entertainment and media revenue gained in South Africa in the period to 2026 is expected to emerge from Internet advertising and Internet access.
However, some of the sectors that achieved significant growth during Covid-19 might not be able to sustain that growth, while others are expected to continue to build from their higher bases.
The formerly dominant sectors namely as traditional TV, newspapers, and consumer magazines are at risk of seeing their positions erode.
Data is consumed mostly through mobile phones, ahead of the portable devices category, which includes laptops and tablets, and other devices category, which counts data consumed through devices such as smart TVs and games consoles.
Key elements of a coherent Media Business Plan include:
•Executive summary: In 1 to 2 pages, provides an overview of your company and highlights your financial needs. Briefly discusses your mission and vision statements, plans and goals.
•Services: Specify which media sector your company specialises in, and the services you offer.
•Management and staffing summary: Includes information on the business’s management and staffing structure.
•Market analysis summary: This section is a quantitative and qualitative assessment of the market. It looks into market segmentation, target market segment strategy, and service business analysis.
•Strategy and implementation summary: Includes information on your competitive edge, marketing strategy, and sales strategy. This includes a SWOT Analysis.
•Financial projections: Includes the management account, income statement, balance sheet, cash flow, cash forecast, break even analysis, loan amortisation schedule, and fixed asset schedule with charts, ratios, graphs, and calculations.
•Annexures: Statutory information required by funders in an application. Management CV’s and ID’s, contracts, and tax returns are included among others. DTC will provide the list of required documents.
We understand the complexities of the requirements and criteria for an accurate and tailour-made business plan. If using the plan to raise funding and/or non-repayable business grants, we guide you through the entire process and provide access to our expansive network of funders across South Africa!
Contact us for more information & assistance.