DUBLIN--(BUSINESS WIRE)--The "Music Industry in South Africa" report has been added to ResearchAndMarkets.com's offering.
The South African music industry is sub-Saharan Africa's fastest-growing music market, with a 20% revenue increase in 2023 following a 32% rise in 2022.
Streaming accounts for nearly 75% of total music income. Music streaming is growing rapidly due to increased smartphone penetration and the popularity of local artists. Spotify and YouTube Music are the major streaming services. In 2023, South African artists generated 28% more royalties on Spotify than in 2022. Although streaming services have benefited more local artists, they have struggled to generate significant income from streaming.
Trends
- Digital platforms continue to enable a wider distribution of music.
- Emerging artists are using social media platforms to share their music.
- High industry growth.
- Increase in the consumption of South African music by locals.
- Integration of AI in music is steadily advancing.
- Social media is contributing to increased streaming.
- South African music and artists have been gaining international recognition.
- The use of paid music streaming services is growing.
Opportunities
- Artists can take advantage of current global and local interest in South African music.
- Platforms like TikTok, Instagram, and YouTube offer opportunities for musicians to promote their work and engage with a global audience.
Challenges
- Fair distribution of artists' royalties.
- Lack of affordable data infrastructure.
- Limited availability of payment options make it difficult for some consumers to subscribe to streaming services or purchase music online.
- Piracy.
Outlook
- South Africa is expected to remain Africa's biggest music market.
- Although increased internet access has exacerbated unauthorised distribution of music, higher digital sales, rising smartphone penetration, and the growing number of paid streaming subscribers indicate that the industry is set to grow.
- There is still a large consumer base that streaming companies are looking to convert to paid subscription account holders.
- Social media platforms offer opportunities for musicians to promote their work and engage with a global audience.
- South Africa's digital music sector is attracting global attention.
This report on the music industry in South Africa includes information on publishing, recording, streaming, royalties and retail. It includes information on digital and physical music sales, major streaming services, streaming income challenges and industry developments, as well as key trends and issues, notable players and regulations.
There are profiles of 12 companies including the major international companies present in South Africa such as Sony, Universal and Warner, local companies such as Arena Holdings (which owns Gallo) and The David Gresham Record Company, and retailers such as Takealot and Mr Vinyl.
Key Topics Covered:
1. INTRODUCTION
2. DESCRIPTION OF THE INDUSTRY
2.1 Industry Value Chain
2.2 Geographic Position
2.3 Size of the Industry
3. LOCAL
3.1 State of the Industry
3.2 Key Trends
3.3 Key Issues
3.4 Notable Players
3.5 Trade
3.6 Corporate Actions
3.7 Regulations
3.8 Enterprise Development and Social Development
4. AFRICA
5. INTERNATIONAL
6. INFLUENCING FACTORS
6.1 Economic Environment
6.2 Labour
6.3 Technology, R&D, Innovation
6.4 Government Support
7. COMPETITIVE ENVIRONMENT
7.1 Competition
7.2 Ownership Structure of the Industry
7.3 Barriers to Entry
8. INDUSTRY SUMMARY
9. OUTLOOK
10. INDUSTRY ASSOCIATIONS
COMPANY PROFILES - Music Publishing and Reproduction of Recorded Music
- Arena Holdings (Pty) Ltd
- Content Connect Africa (Pty) Ltd
- David Gresham Record Company (Pty) Ltd (The)
- Sheer Publishing (Pty) Ltd
- Sony Music Entertainment Africa (Pty) Ltd
- Sony Music Publishing South Africa (Pty) Ltd
- Universal Music (Pty) Ltd
- Universal Music Publishing (Pty) Ltd
- Warner Music South Africa (Pty) Ltd
COMPANY PROFILES - Music Retail
- K Morby
- Mr Vinyl (Pty) Ltd
- Takealot Online (Rf) (Pty) Ltd
For more information about this report visit https://www.researchandmarkets.com/r/40eu6y
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