Markets for Growth
Below is a quick read that show some regions in the world that are experiencing some growth in the Entertainment Industry.
South Africa
The entire African continent, as a whole, has the potential to see great growth in the entertainment space. With Nollywood, Nigeria already is big in the film space, and there is more room for growth in terms of film and television. But what’s more fascinating is how the mobile entertainment market is going to grow. As mobile devices get into the hands of more, I think the largest growth we will see is how people are going to access games, stream entertainment, and connect with each other. One crucial market is going to end up being the South African Market. South Africa is more developed than other countries and has one of the strongest economies in Africa, so seeing how trends and technology progress in South Africa will be really telling on how the entertainment space grows on an entire continent.
India
India is one already of the largest entertainment industries in the world. The reason I added India is because I wanted to talk about how interesting it is going to be to see streaming services, especially new ones, adopted in India. I feel that streaming services have a lot of growth potential in foreign countries such as India. One case example that will be interesting to see is how Paramount Plus expands to India and Asia in the coming years because if Paramount Plus can become larger it provides a lot of insight in the ‘steaming war’ because it shows a newcomer like Paramount Plus can compete with a veteran like Netflix
Brazil
Another market that is going to see exponential growth in the entertainment space is the South American countries like Brazil. Firstly, not only is Brazil one of the countries seeing a lot of growth in the entertainment space, but Brazil is a very populous, large country with lots of growth potential if studios and companies can properly tap the market. That is what you are seeing right now with Netflix continuing to create originals in Portuegese that appeal to Brazilians.
Oceania/ Asia-Pacific
This region is a very, very broad area, but I feel there are numerous signs of growth for the entertainment industry in this area. Firstly, what programs like Squid Game have shown me is that there is a large demand for stories that have a universal appeal, even if they are in a foreign language. The rise in popularity of K-dramas or K-pop bands show me that there is a lot of growth potential for stories that originate in these areas. They also show me that there is a lot of room for growth for streaming services and studios in these areas if they can tap into some of the markets of this area. Secondly, as technology continues to improve in this area, countries in this region like Indonesia, Philippines, and others could have a large impact on the broader entertainment space through gaming or tech. I recently read an article that discussed the growth of the gaming industry in Oceania, specifically Indonesia, and through learning about it I feel there is massive room for growth in gaming entertainment.
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