Kenya has been ranked as Africa’s fastest-growing digital marketplace, overtaking regional powerhouses Nigeria and South Africa. According to a new Entertainment and Media Outlook report by global advisory firm PwC, released on Thursday, October 23, the country boasts a 16 per cent compounded annual growth rate (CAGR) in internet advertising.
This growth highlights Kenya’s rising influence in the digital economy, with businesses worldwide increasingly preferring to market their products through Kenyan-based digital platforms such as Facebook, X (formerly Twitter), YouTube, Instagram, TikTok, and local websites.
PwC projects that Kenya’s video advertising segment will expand even further, with a projected 29 per cent growth rate by 2029, reflecting the growing dominance of video content in digital marketing strategies.
However, the report also warned of a significant decline in traditional advertising channels, including radio, print, and television. It noted that newspaper and magazine circulation continues to fall, mirroring a global trend where audiences shift toward online and mobile content.
“Traditional media like print continue to decline due to the ongoing migration to digital formats, with newspapers and magazines seeing a consistent drop in circulation and advertising revenue,” PwC stated.
Despite this, television and radio remain relevant in rural and underserved regions, where internet penetration is still growing.
The report further predicts that digital advertising revenue will surpass traditional TV income by 2026, reaching Ksh60 billion by 2029, compared to TV’s projected Ksh43 billion.
Additionally, Kenya’s data consumption is expected to surge due to increased mobile internet usage and the rapid expansion of 4G and 5G networks. PwC also highlighted that both Kenya and Nigeria are investing heavily in live music and festival culture, with Afrobeat and regional genres fueling post-pandemic recovery in the entertainment sector.
