Video:Ever Wondered How much the Kenyan Entertainment Industry is worth?
This seems to have been the toughest question lingering in every player’s mind taking part in the Kenyan showbiz game. But just how much is the industry worth?
In the past, it had been extremely difficult to estimate the worth of the entertainment industry considering it’s not a singular industry. This is because the most “known” part of the industry is in Nairobi where most of the productions take place.
That notwithstanding, the entertainment industry is very vast, which makes it very difficult to determine its exact value. However, it is a multi-billion shilling business.
Besides, financial information is notoriously difficult to get accurately as music/movie studios aren’t always forthcoming about the TRUE costs of what it takes to make and market their projects.
Last Saturday, however, Dr. Hassan Wario, the Cabinet Secretary Sports Culture and the Arts, finally revealed how much the entire industry is worth.
“It’s estimated that the Kenyan entertainment industry is worth approximately Ksh8.6 billion,”revealed Dr. Wario.
Of this confounding figure, the Film & TV industry including Documentaries and Advertisements, is worth Ksh4 billion.
Dr. Wario was speaking during the Riverwood Academy Awards ceremony.