Africa's Music Business has come of age / it's an investors dream
Has Nigerian music, 'the undisputed ambassador of African music and beats (known as Afro-beats) come of age'?
Many potential investors will be surprised at the progression of Nigerian music, you only have to take a short sharp and investigative look at one of the world’s most listened to genres of music to see the revenue generation.
Nigerian music or musicians of Nigerian heritage/influence have become truly mesmeric, with a huge undefined and underestimated market both in Nigeria and Internationally. It stands to reason that Nigeria with over 170 million people and hundreds of thousands of people in Diaspora should possess the unbridled potential of harnessing a truly thriving music industry.
As little as 5 years ago, the industry known as (Afro-Beats) possessed inadequate and underdeveloped areas such as marketing, music and artist management, piracy, stereotypical views, lack of investment and sluggish innovation, which led to the market being left behind. But there has been an evolution with regards the market moving upwards and onwards. A major factor is the Hip-hop industries heavy weights, Like Kanye West initially signing D’Bang before he joined ‘Akon’s Konvict Muzik Label. Mr West also signed super producer Don Jazzy to his label G.O.O.D Music.
Akon, also signed the likes of P-Square, Whiz Kid Tuface, this has helped to put a spotlight on the Afro beats revolution.
This trend is becoming common place with the likes of Sean Paul collaborating with Fuse ODG and Rick Ross collaborating with P. Square, this is an indelible indicator to the fact that Afro beats/Music has well and truly landed and has cemented itself within what is now known as the Urban Music market.