• info@factcorner.org
 ENTERTAINMENT STARTUPS IN AFRICA, THE PAST PRESENT AND THE FUTURE

ENTERTAINMENT STARTUPS IN AFRICA, THE PAST PRESENT AND THE FUTURE

Entertainment startups in Africa has recently started to enjoy success in terms of funding, notably in 2020. This article is aimed at highlighting the current state of entertainment start-ups in Africa and what lies ahead for African youth in the entertainment sector. 

In 2020, Africa’s entertainment start-ups raised a record $13.9 million according to a report by Disrupt Africa, a website that monitors African tech start-ups. This huge feat can be traced to the growth in Africa’s connectivity and improvement in terms of technology in recent years. And, also the demand for entertainment content which is on the increase.

This growth has led to investors seeking alternative markets other than the busy health, e-commerce and financial –tech. This is also because investors are seeking for sectors to invest with less competition. African entertainment industry offers these opportunities to investors.

Entertainment Startups in Africa 2016-2019

2016 – 12.2m Dollars

2017 – 2.8m Dollars

2018 – 0.12m Dollars

2019 – 0.75m Dollars 

The Present in Review  (2020)

With most investments coming from venture capital funds, a whooping sum of 13.9m Dollars funding was received in the entertainment startups in Africa at the end of 2020.

MDUNDO, a streaming and downloading platform, became the highest recipient of funding in 2020 with 6.4million Dollars raised by the startup. Other startups that enjoined high funding includes: 

CARRY 1ST a developer and publisher of mobile games and content App (2.5m Dollars)

SEA MONSTER a creator of game and animation (1m Dollars)

STARNEWS MOBILE a video on demand platform (1.8m Dollars) 

Entertainment Startups have moved past the Prop Tech, AI/Iot, and Edu Tech Startups in Africa in terms of Funding IN THE YEAR 2020.

The Future of African Entertainment Startups

Judging from the past and the current situation and also considering the demand in the global market, entertainment start-ups in Africa are just beginning to enjoy success in Africa . 

Youths in Africa must understand that making a living out of the entertainment industry has gone beyond having talents or being a performer. Creating platforms where people can access entertainment content is a huge business and developing entertainment games is also a big business due to the high demand of entertainment contents in the global markets and also in Africa. So, young persons in Africa that as aspiring to become an entrepreneur, must take a look at the entertainment industry, analyse the needs of the consumers and ditch out satisfying contents. This will help the individuals create job opportunities, become self employed and of course improve the African Economy.

Leave a Reply

Your email address will not be published. Required fields are marked *