With the rapid growth of smartphones, broadband and the introduction of digital terrestrial television services in Sub-Saharan Africa, the prospect of digital growth is more staggering. This really shows an industry that is on the move, said the Minister.
He said the task was for the industry to tap into this opportunity.
The Minister was speaking at the opening of the three-day Moshito Music Conference and Exhibition at Auckland Park SABC Campus, in Johannesburg on Friday.
The prestigious event, which is being organised to enhance the role of the industry in economic development, job creation, poverty alleviation and socio-cultural development, is organised in partnership with department and organisations in the music industry.
The fast growth of the information super highway has seen the internet become the enemy of the music industry. It has facilitated piracy and knocked CD sales through people who download single songs instead of buying them by the dozen.
But today the very same internet gives executives something to sing about. While the US remains on the top of digital music sales, there is strong growth projection in the developing world including Africa.
South Africa which is currently the African region's largest market has seen digital music revenues doubled in 2013 reaching 107% growth, and accounting for 14% of the total market worth US$63 million, said Minister Mthethwa.
He said the International Federation of the Phonographic Industry (IFPI) said in a report in April that digital sales, along with license services, are increasingly dominating the scene across the globe.
The industry's digital revenues grew by 4.3% in 2013 to US$5.9 billion. Globally, digital now accounts for 39 percent of total industry revenues.
Emerging markets remain a priority given the sheer size of the opportunity. The potential is unlocked by the widespread adoption of technology and the creation of models that monetize music in ways that fit with local demand.
The Minister said in 2011, the department adopted the Mzansi Golden Economy (MGE) strategy to unleash the economic potential of the creative sector through large scape investment.
The National Development Plan (NDP) also encourages the use of the creative industries to grow an inclusive economy, build skills and to promote active citizenry, leadership and partnerships, among others.
As government, we have, indeed, identified the creative industries to create employment, fight poverty, provide skills and economic self-reliance among artists through our Mzansi Golden Economy programme, we will continue provide real support for future growth of the sector, he said.
- SAnews.gov.za
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With the rapid growth of smartphones, broadband and the introduction of digital terrestrial television services in Sub-Saharan Africa, the prospect of digital growth is more staggering. This really shows an industry that is on the move, said the Minister.
