Yossou N’dour, Yvonne Mwale, Gal Dee, Naomi Achu, Wizkid – the African music scene constantly produces new voices that are getting more and more popular internationally.
This year’s report of IFPI (International Federation of the Phonographic Industry) shows the great potential of African music business as emerging markets are getting more profitable. Beggars Group, a UK based record group, reported that this year 20% of its revenues came from emerging markets. In 2016, Beggars Group also licensed music from Nigeria, Angola and Uganda for the first time.
Nowadays, more and more people are using streaming music services – in the opinion of Martin Mills, founder of Beggars Group, this is one of the main points why African markets are becoming more attractive. „Bits of the world that you don’t see regularly as record markets are much bigger for us in the streaming world than the download or physical world,“ says Mills.
Streaming music services are getting more popular around the world. In 2015, streaming rose 93% globally. Furthermore, the African smartphone market is growing rapidly. Affordable phones are produced that can be bought by a large part of the society and wireless internet is available in many regions today. This enables African artists to reach a huge audience with low costs – possibly sparking a worldwide interest in African music.