Connect with us

Broadcasting

‘CNN Marketplace Africa’ Explores Nigerian Music Industry

Published

on

Kindly share this post

This week, ‘CNN Marketplace Africa’ explores the Nigerian music industry, which is increasingly generating both revenue and recognition worldwide.

By 2019, Pricewaterhouse Coopers predicts that Nigeria’s entertainment and music industry is predicted to surpass $8 billion.

This year, the South by Southwest conference in Austin, Texas, included a panel on the Nigerian music industry for the first time.

At the conference, ‘Marketplace Africa’ met with artists and industry insiders to learn what makes Nigeria such an appealing market, and to hear what they believe can be done to assure that Nigerian musicians and artists will generate revenue and recognition for years to come.

Sony are the first major record label to operate in Nigeria, indicating a more global direction for the country’s music scene.

‘Marketplace Africa’ speaks to the General Manager of Sony Music in West Africa, Michael Ugwu, who reveals what their involvement signifies: “It’s a big deal for Sony, it’s a big deal because it says we are taking this market seriously. Not just by talk or rhetoric… it’s let’s get functional, physical offices with a physical manager running a business in West Africa.”

Sony have already signalled their intent by signing several Nigerian musicians to their new label, including one of Nigeria’s most popular artists, Davido.

Ugwu explains to ‘Marketplace Africa’ how this new deal can help artists like Davido become a more global figures in the industry: “Davido sells out stadiums.  60-70,000 people. You know as big as you get in Africa, it’s hard to now cross territories, and that’s where we come in.  We’re going to help him scale up and create more impact globally.”

Whilst other Nigerian artists such as WizKid, D-Banj and P-Square have also found success by reproducing a classic Nigerian afrobeat sound for to a global audience, ‘Marketplace Africa’ learns how this is not the case for many upcoming artists in the country, who are struggling to support their art.

DJ Cuppy, who spoke on the SXSW panel, explains to the programme: “As an artist it is very challenging.  Nigeria doesn’t have the infrastructure to pay out royalties or give artists the right publishing arrangement, so artists are having to depend on endorsements and shows to keep their creative going.”

Born in Lagos, DJ Cuppy now travels around the world mixing Afrobeat with other international sounds.  With the ever-increasing importance of mobile technology to the global music industry, DJ Cuppy is not the only one who senses reform coming to Nigeria.

According to Bloomberg, mobile music sales generate $150 million annually for Nigerian artists, as well as offering the largest distribution platform for digital music and world music.

‘Marketplace Africa’ hears from Ademola Ogundele, the Co-Owner and CEO of one of Nigeria’s most popular music sites, NotJustOk.com, on how mobile technology is influencing upcoming artists: “With a growing digital environment artists are now becoming more informed with what they do.  They’re learning that actually – ‘I should be getting royalties, I should have a publishing deal’… so people are realising their skills and their talent is worth something.”

As the Nigerian music industry evolves further, Michael Ugwu explains some of the other challenges on the horizon to ‘Marketplace Africa’: “A lot of artists tend to write their own music.  We haven’t built up an ecosystem of songwriters… As big as Beyoncé is, she needs songwriters, as big as Sam Smith is he needs song writers… so we need to get that right.”

‘Marketplace Africa’ also hears from the Co-Founder of Mixerpot, Rab Bakari, who represents young African musicians, on the direction he believes Nigerian music needs to take: “We need collaborations where Nigerian artists are writing songs for American based artists or actually producing for American based artists.”

‘Marketplace Africa’ asks Ugwu for his predictions on how the Nigerian music industry will develop in the next five years.

Ugwu explains: “I think five years from now, people are going to be paid a lot more from this industry. 100 percent I believe that is going to happen. That’s the trend. People are going to consume music and they are going to pay to consume that music because it’s going to be convenient to consume world class, top quality local and international music.”

 


Kindly share this post

Nigeria CommunicationsWeek believes that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. So since 2007, we have devoted our energy to independent reportage of technology and how they affect lives.

Continue Reading
Advertisement
Comments

Broadcasting

Techy Accountants in partnership with ACCA Host AccounTech Summit to Empower Finance Professionals

Published

on

Kindly share this post

The AccounTech Summit, hosted by The Techy Accountant in partnership with the Association of Chartered Certified Accountants (ACCA), is a groundbreaking event designed to navigate the evolving landscape of the finance industry in the digital era.

Techy accountant

Recognizing the critical need for finance professionals to adapt to technological advancements and emerging trends, this summit is a driving force for innovation, transformation, and progress.

The event is set to take place as follows:

Date: August 15th, 2024,

Location: Radisson Blu Anchorage Hotel in Lagos, Victoria Island, Nigeria.

Time: 9:00 A.M

The summit aims to celebrate achievements in the finance sector, support entrepreneurship ventures, and enlighten participants on industry challenges and opportunities. With a focus on bridging the employability gap and promoting high-quality skill development in finance, the summit aims to address the evolving landscape of the industry in the digital age.

Over the past six years, The Techy Accountant has graduated over 1000 finance professionals and trained more than 5000 individuals worldwide.

Event Highlights

The one-day event will bring together over 200 attendees, including finance professionals, entrepreneurs, policymakers, academics, and Techies.

Attendees can expect a day of immersive learning and collaboration, culminating in an award and grant ceremony. Event Highlights include keynote sessions, interactive workshops, panel discussions, and networking opportunities, all centred around the theme “Emerging Tech in Accounting & Finance – A Game Changer.”

Commenting on the summit, Mrs. Toyin Olufon, Founder of The Techy Accountant stated, “We believe in equipping finance professionals with the skills needed to thrive in a rapidly changing industry”.

Commenting on the collaboration, Mopelola Jatto, CFA, Regional Head, ACCA Nigeria remarked, “Partnering with The Techy Accountant underscores our commitment to fostering innovation and driving excellence in the finance profession. Together, we aim to equip professionals with the skills and knowledge required to thrive in the digital age.”

TO REGISTER, VISIT: https://thetechyaccountant.org/event/the-techy-accountants-account-tech-summit-2024


Kindly share this post
Continue Reading

Broadcasting

NASENI, Nasarawa State, Firm to Establish Tractor Manufacturing Plant in North-Central Geo-political Zone

Published

on

Kindly share this post

National Agency for Science and Engineering Infrastructure (NASENI) is set to collaborate with Nasarawa state government and Bobtrack Tractors, a division of Saint Bob Motors Limited to start the manufacturing and assembling of tractors in the north-central geo-political zone.

Left to Right: The Chief Executive Officer, Bob Track Ltd, Mr. Ibifiri A.C Bob Manuel; the Executive Vice Chairman/CEO, National Agency for Science and Engineering Infrastructure (NASENI), Mr. Khalil Suleiman Halilu; the Executive Governor of Nasarawa State, Engr. Abdullahi A. Sule, and Mr. Jerry of Bob Track Ltd, during a courtesy visit at NASENI Headquarters on Monday, April 22nd, 2024.

The facilities and infrastructure available at one of NASENI’s Institutes, Agricultural Machinery and Equipment Development Institute (AMEDI), Lafia, Nasarawa state will be used for assembling and manufacturing of the tractors.

According to the Executive Vice Chairman/Chief Executive Officer, NASENI, Mr. Khalil Suleiman Halilu, the project which is aimed at creating wealth and jobs for Nigerian youths is in line with President Tinubu’s Renewed Hope Agenda of ensuring food security and promotion of mechanized farming and agro-business in the country. Halilu disclosed this when the Executive Governor of Nasarawa State, Engr. Abdulahi A. Sule led a delegation comprising of Bob Track Tractors to pay a visit to the Agency’s headquarters in Abuja on Monday, April 22nd, 2024.

Mr. Halilu who assured Governor Sule and the delegation of NASENI’s readiness to do business with them, said, “the Agency is willing to partner with you and sign the memorandum of understanding (MoU) so that in the next couple of weeks we will move into action.”

He disclosed that Mr. President had recognized NASENI as a national brand and its National Tractor Recovery Programme wherein 55,000 tractors would be refurbished for mechanized farming nationwide.

In his remarks, Governor Sule said, he aligned with NASENI’s vision of collaborating and promoting made-in-Nigeria goods and also believed that government’s role is to provide a level playing field necessary for businesses to thrive.

The objective of his visit, he said, was to introduce the Bob Track Tractors which deals in assembling and manufacturing of tractor and farm implements with offices in Port Harcourt to NASENI so that it could utilize the existing facilities at AMEDI, Lafia for assembling of tractors instead of acquiring a new land for the business.

The CEO of Bob Track Tractors, Mr. Ibifiri A.C. Bob Manuel said, “We are ready to take up the facility that you have in Nasarawa State, create employment and wealth for the youths in the area and also use it as a hub to drive mechanized agricultural vision of the present administration. We are willing to invest in Nasarawa state with help of His Excellency, his team and NASENI.”


Kindly share this post
Continue Reading

Broadcasting

ARISE News Channel Goes Live in SA, 9 Other Southern African Countries

Published

on

Kindly share this post

ARISE News Channel, Africa’s premier broadcaster, has announced its expansion into South Africa and nine other Southern African countries.

ARISE News Channel Goes Live in SA, 9 Other Southern African Countries

The channel is now available on Multichoice/DSTV Channel 416 in South Africa, Angola, Botswana, Lesotho, Malawi, Mozambique, Namibia, Swaziland, Zambia, and Zimbabwe.

With this expansion, ARISE News Channel is now live in 54 African countries, including Kenya, Tanzania, Rwanda, Uganda, Cameroon, Sudan, Ghana, Senegal, and Cote d’Ivoire, among others.

Celebrating its 11th anniversary on January 31, ARISE News Channel continues to showcase Africa’s diversity in business, politics, technology, commerce, science, sports, show business, and fashion, while projecting the best of Africa and its cultures globally.

Nduka Obaigbena, chairman and editor-in-chief of ARISE News Channel,, expressed determination to launch the channel in all countries worldwide, stating, “The move to Southern Africa reaffirms ARISE News Channel’s position as the leading broadcaster in Africa with independence and clear thinking. We are determined to celebrate the best of Africa and tell the African story in the global marketplace.”

He added, “We shall continually showcase the emerging African century where Nigeria and other African countries will be some of the leading economies around the world. This is a marathon and not a dash: we will do for Nigeria and Africa what the CNN, the BBCs, and Aljazeeras have done for their nations and regions. In the emerging African AI- driven new information highway, no one will shape your narrative better than you.”


Kindly share this post
Continue Reading

Trending