South Africa leads the Sub-Saharan African music market, earning 77% of the region’s revenue, as reported by the International Federation of the Phonographic Industry (IFPI)[^source]. This isn’t surprising to experts, as Afrobeats from Nigeria, featuring artists like Burna Boy and Wizkid, have garnered global success. Despite this, Nigeria trails behind South Africa due to economical constraints. Many Nigerians prioritize food and transport expenses, leaving less for entertainment, influencing streaming cost comparisons with South Africa. To grow the Nigerian music market, experts suggest better economic conditions and education on streaming benefits.
Music executives advocate for stronger copyright laws to ensure artists receive fair compensation. Despite challenges, Nigeria is emerging on streaming platforms: by April 2024, Spotify recorded 4.6 million streams daily from Nigeria. The movie industry shows a similar trend, with platforms like Netflix investing more in South Africa.
What strategies might further empower emerging music markets in Africa? Share your thoughts!
[^source]: Full details at BusinessDay
