When Africa is mentioned, the perception out there is most likely not the reality. Although Africa is made up of 54 countries, we are connected in diverse ways such as our culture, language, food, stories, people among others. Yet, we are more disconnected in our businesses, transactions and dealings, than we may realise.
African Content Creators and the Market
In the digital age, borders that have been held steadfast, have now become less important. The focus has been drawn to the quality and value in services rendered. For that reason, creatives, especially digital content creators, have become significantly important. We have realised a surge in creators over the last five years. Creators now rely on foreign platforms such as YouTube, Patreon and so on, to earn royalties which have mostly been touted as meagre compared to foreign creators parading the same content. It is for this reason that we need to find ways to uplift African creators in the area of royalties, where they face the most challenge.
The Challenges of Content Creation and the African Creative Economy
Earning revenue on these platforms are quite cumbersome for creatives, especially when efforts over returns is considered. Africa has the most expensive data index in the world, so content creators put quite a lot of efforts into creating original content, but most get very little in return in terms of revenue, leading to frustration.
Original content in Information, Education and Entertainment about the African Continent, her people, her culture and lifestyle are not readily organised for engagement online. It has been quite cumbersome for many Africans or people of African descent to comb around different platforms to engage content that serves their cultural uniqueness.
Content production is expensive. Most producers of short video or live African content that are informative, educative and entertaining, fund their content with a lot of financial difficulties due to the disorganised structure of that industry. This have caused massive content wastage and frustration, as many are not published for any form of ROI.
African Creators are limited in income streams they can enjoy from streaming platforms. Options they possess primarily are from B2B advertising revenue sharing from platforms owned by Western Companies. Creators are given very little opportunity to earn revenue from direct B2C engagement with their consumers.
Beyond resolving the royalty dilemma, there should be a platform that prioritises African creators and their content. It is about time we tell our own stories the African way. It is about time we present ourselves with the best opportunity to reward our creativity and dedication to the craft.
The global video streaming market peaked up to $42.6 billion in 2019 With a projected growth rate of 20.4% between 2020 to 2027 to reach $184.2 billion. Targeting even 1% of that market size puts the revenue at $1.84 billion, which is enough for the continent as a starting point.
The Solutions for Content Creators across Africa and the Diaspora
What the African continent needs are platforms positioned to grant multiple revenue channels to African creatives all in one space. Presently, the main income stream is from B2B advertising revenue on Western Platforms, cutting off any direct revenue from users engaging with content from creatives.
We need a marketplace where content can be directly monetised from the different monetisation methods already created e.g., Pay per view, Subscription Royalties, Live Ticketing, Product Development revenues. This gives incentives to creators to see content as products that give assured earnings.
We need a platform will cater to local and international consumers, predominantly Africans, and people of African descent spread across the globe. Content in Information, Education and Entertainment will be published, organized and exported through our platform and earn foreign exchange for creators.
Ckrowd® is a content streaming service that is creator centric and consumer considerate, offering African content to a global audience in short and live video format.
Ckrowd will be working to organize the African Short Video Industry by forming partnerships and funding creators as ENTERPRISES for exclusive and original content for Ckrowd. This is a strategy will go towards building a valuable Ckrowd Content catalogue, which the IP will continue to appreciate in value regardless of the format of publishing.