Nigeria Music Industry: Online sales propel millions in profits
Updated 17:20, 08-Apr-2019
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Music is fast becoming Nigeria's next big business. The country has one of the continent's fastest-growing entertainment and media industries, largely as a result of digital sales. And many young musicians are starting to dream big. CGTN's Philip Ihaza tells us more.
From this deluxe studio comes the rich and unique sound of Uyi Omoregie. A 2012 university graduate in Psychology, he has since put that aside to pursue his passion, music. Like most of Nigeria's up and coming artists, Omoregie wants to carve out a niche for himself.
UYI OMOREGIE UPCOMING NIGERIAN MUSIC ARTIST "Many other artists out there have their brand - and they have what everybody knows them for I want to be known for something, I want to create something, I want to bring a sound that has never been heard before."
According to the global auditing firm Price Waterhouse Coopers, the Nigerian music industry is projected to be worth more than 90 million dollars next year, almost double what it was in 2015. In the past, piracy had a crippling effect on the industry's growth but the advent of digital revenue platforms like online sales and ring back tunes has enabled the music scene here to prosper. Experts say this presents a huge opportunity for Nigerian artists.
FRANK ALAPA ENTERTAINMENT MARKETER "Nigeria census says that Nigeria has a population of 190 million people, 60 percent of those 190 million are online. So if you do the math, that means a very smart artist can be exposed to more than 100 million people at every particular time."
Some Nigerian artists have now crossed over to the other side of the Atlantic as well to attain success in the U.S. In 2016, Nigerian Afro pop stars Wizkid and Davido signed contracts with global record label Sony Music International.
PHIL IHAZA ABUJA, NIGERIA "Nigeria's music industry has made giant strides without any notable government support. With a fan base spanning across Africa and some other parts of the world, the Nigeria music industry could help counter the country's downward economic trend."
However, experts say the government still needs to improve on some things like inadequate power supply, access to funds and copyright issues to ensure the industry develops at a more rapid pace. But musicians like Omoregie don't seem to be bothered by the odds, the future certainly looks brighter for him. Philip Ihaza, CGTN, Abuja Nigeria.