Despite a slowdown from last year’s 5.5 per cent growth in industry revenues, PwC, one of the world’s leading audit and assurance firms, has published a report which predicts that entertainment and media is a dynamic, diverse industry with steady and sustainable growth.
Titled PwC’s Global Entertainment and Media Outlook 2016-2020, it asserts that total worldwide entertainment and media revenues will rise at a Compound Annual Growth Rate (CAGR) of 4.4 per cent in nominal terms over the coming five years, from $1.72 trillion in 2015 to $2.14 trillion in 2020.
As one of the most populous entertainment and media markets, Nigeria is ranked along with Brazil, Pakistan as countries that will also produce comparatively higher entertainment and media growth rates.
According to Osere Alakhume, a segment leader in PwC Nigeria, both established and emerging players need a more intimate understanding of the forces at play at a local level that would arm them with insights that will help them see through the apparent chaos and pinpoint value opportunities. He said the Nigerian market has its own unique growth dynamics, shaped by local factors ranging from demographics to content tastes to infrastructure to regulation.
The report pinpoints five key shifts occurring in each of five dimensions of the entertainment and media landscape: demography, competition, consumption, geography, and business models.
In 36 out of the 54 countries covered by PwC’s Outlook, entertainment and media spending is growing more rapidly than GDP, often by a factor of more than 50 per cent. Venezuela tops the list; entertainment and media spending growth there is likely to outpace GDP growth by more than 14 percentage points in 2016.
The differences in growth rates at a country level are overlaid by wide variations between segments. The fastest-growing segment globally over the five years will be Internet advertising with a CAGR of 11.1 per cent, ahead of Internet access at a 6.8 per cent CAGR.
By contrast, magazine and newspaper publishing will suffer declines. However, even here there will be wide variations between territories: while newspaper publishing revenue will see a compound annual decline of 3.1 per cent in North America, in India it’ll rise at a CAGR of 2.7 per cent.
The report says that revenue across entertainment and media is steadily shifting from publishing businesses to video and Internet businesses – in particular those that provide over-the-top (OTT) services and monetise consumer data. Direct consumer spending models will remain strong, while spending on Internet access, including mobile data, will rival advertising.
ECLIPSE PLANS TO OUTSHINE THE STARS
He started as the kid with a black Sony disc-man and a backpack full of CDs, staying back in class after school, writing songs on every possible topic.
By the time he was in SS2, Eclipse – born NkasiobiChukwu – in Kaduna had recorded his first song and performed at his schools socials night. Going by the rush he got from being on stage performing and watching people cheer, he was sure he wanted to do music for many more years.
“I remember having to burn that one song into 100 blank CDs and selling them for N100 per copy in school. For a young lad from Abia state whose family was living in Lagos at the time while I schooled in FGC Abuja, I guess that was the beginning of the music hustle for me.”
Over time, he has been influenced by certain people in different ways and names- his father, Kanye West, M.I and Eldee among his role models.
“I say my Dad because he is one person who I know is hard working, principled and resilient. These are virtues that I try to inculcate in my life, on the other hand we have Kanye West, M.I and Eldee who are all artistes and music producers. It’s safe to say that their careers helped motivate me musically,” he said.
Eclipse has a new EP out called City of Dreams. It is a project he describes as the soundtrack to the story of a young man’s encounters with love, loss, peer pressure, and spirituality in a city which represents the road to success but most of all it shows that even with all the obstacles life presents, dreams are still very attainable. “These are expressed with nine tracks all telling the same story from different angles,” he explains.
One of the songs, ‘Salamalekun 2.0’, is a collaboration with M.I. It is a remix to a previous song. According to Eclipse, M.I heard him performing at Industry Nite, and said he liked the song. “I asked if he would like us to work on a remix and he said, yes.”
Eclipse explains the song making process. “It took about three studio sessions. First we met and just listened to the song and shared ideas on how to improve on it. This was when we decided to add a chorus. The second time we recorded our verses and the third session was used to perfect the mixing and mastering.”
Eclipse is grateful for his association with Aboriginal Music. “I got signed to Aboriginal Music in 2012 after a short meeting with the CEO who had heard about me from the then ongoing “Nokia Don’t Break the Beat” competition.
“Fast-forward to 2016 I must say It has most definitely been a life changing experience and believe me, as much as it is nice to be an independent artiste who only worries about making music, one cannot truly grow without the push, support, pressure, occasional burden and exposure that comes with being signed to a label.”
GOSPEL MUSIC AFRICA GETS SEVERAL NODS
Imo and Plateau state governments, alongside other arms of government and religious bodies, have endorsed the new gospel reality TV show, Gospel Music Africa.
At the unveiling last weekend in Oriental hotel, Victoria Island, Lagos, the various representatives of the arms of government gave the reality competition several nods for turning the wheels of change in reality TV shows.
The deputy governor of Imo state, Prince Eze Madumere, who represented governor Rochas Okorocha, expressed belief that the reality competition will take the country to a greater height more than where hip-hop music has taken the country. “Of course you know the hip-hop music has placed Nigeria in a global map but I believe this one will do more than that.”
Conceived in 2009 by Matthew Obono of MFI Xquisite Koncepts Ltd, Gospel Music Africa is the first of its kind in the gospel industry. A non-denominational competition, the show seeks to provide a platform for gospel artistes to nurture their talents as well as instill godly values on them.
Obono disclosed that one of the reasons he launched the competition was because of the overwhelming migration from gospel to secular music by talented artistes.
“Most celebrated artistes today started out in church choir but ended up in the secular world. The question is why the migration? This is why we come up with Gospel Music Africa to encourage them to stay, encourage professionalism, creativity, technicality, and to reduce the level of migration.”
The competition is scheduled to kick off in September but will be preceded by auditions in some selected regions across the country. Open to all countries in Africa, only 30 contestants will make it to the house for the main competition for eight weeks.
They will be mentored on the technicalities of music production as well as vocal training by leading international gospel artistes like Yolanda Adams, Cece Winans and more. A star prize of five million naira, brand new car and a record deal will be awarded to the last man/woman standing in the competition.
Gaza Jonathan, representing the House of Representatives speaker Yakubu Dogara lauded the vision with enthusiasm. According to him, the reality TV show is a breath of fresh air on the screens which recently have been inundated by immoral programmes. “Christians can now have something to watch on TV,” he enthused.
Sales of forms for the competition are ongoing and will close on August 14.
TENSTRINGS MUSIC MANAGEMENT SIGNS 17-YEAR-OLD ARTISTE
Bolametirin Akinlaja is the latest music artiste to be signed to Tenstrings Music Management. The 17-year-old girl was unveiled last week during a one-day workshop at the Tenstrings Music Institute, Festac Town, Lagos.
Bibi as she is fondly called is an afro-soul singer who was discovered by the founder of the management Emmanuel Akapo during one of her performances in Tenstrings Music Institute, Surulere.
With subtle words of encouragement, she was inspired to pursue music as a career. Although, music has been part of her, the 300-level student of Insurance in Redeemers University never thought of taking it as a full-fledged ambition.
Armed with powerful vocals, Bibi hopes to be the next big thing in the Afro-soul genre. Her two singles ‘Jeje’ and ‘Endlessly’ are already gaining positive reviews in the mainstream.
SUGAR RUSH DAZZLES GUESTS WITH GIVEAWAYS
The much-anticipated Sugar Rush Wedding Exhibition will not be forgotten in a long time.
In partnership with InterContinental Hotel, Taittinger Champagne, SaraO Events and Aralia By Nature, the wedding and lifestyle event had guests drooling with excitement last Sunday, as they feasted their eyes on an array of wedding dresses, cakes, decorations and more on display.
VIP guests mingled in an elegant lounge styled by SaraO Events and Aralia By Nature, where they enjoyed premium complimentary champagne by Taittinger and tasty canapes.
The frenzy mood was heightened when event compere Chigul engaged guests with a bouquet of activities and giveaways including two round trip tickets to Dubai, a Bridal Makeover from House of Tara, a wedding dress by Wendy’s Bridal, a Bridal Bouquet from Aralia By Nature, a Jewellery Set from Leries Accessories and much more.
Besides the giveaways, there was music performance by Wande Coal.
Hosted by Sugar Weddings & Parties (SWP), an online resource platform for weddings and events, the exhibition is its first of its kind.
The founder, Tarebi Alebiosu revealed that the platform has presented many opportunities for event professionals and consumers to connect. “For a lot of users there are still elements of distrust, so Sugar Rush is a great extension to our online platform, providing consumers with the perfect opportunity to fully experience what event professionals have to offer”.
TANKOLOWISKA DANCES WITH WEALTH IN ‘BOLAJI’
Afro-pop sensation, Tankolowiska has dropped a new hit ‘Bolaji’. The party jam is the third single from his stables since his debut in 2011.
Produced by Gospel on De Beatz, Tankolowiska samples rhyming lyrics with sweet melodies that are instantly memorable in this track.
As the name suggests, Bolaji is Tankolowiska’s way of preaching humility. “Bolaji in Yoruba means to ‘Wake with wealth’ and, trust me, everybody wants to wake up with wealth. The song basically passes a message about treating people with respect without knowing their status,” he said.