Digital music downloads
and streaming in Nigeria
have become the most
favourable source of
revenue for local
musicians, particularly
Tekno, Olamide, Wizkid
and Davido.
The earnings are estimated between
$US15 million and $US20 million
monthly, which amounts to between
$US180 and $US240 million
annually, according to Sam
Onyemelukwe, managing director,
Trace EMC Limited.
This comes to between N54.9 billion
and N73.2 billion annually, based on
an average official exchange rate of
N305 to the US dollars.
Top artistes and earners from music
downloads and streaming have
been adjudged to be Tekno,
Olamide, Wizkid and Davido
according to Onyemelukwe.
In an exclusive network at The
Brook, BusinessDay's corporate
office in GRA, Apapa, Lagos. on
Tuesday, December 29, 2016, the
Trace boss said that about 80
percent of music downloads in the
country are the works of Nigerian
artistes and are done primarily on
mobile networks.
Onyemelukwe revealed that
telecommunication companies lead
others in the music download and
streaming business in the country,
with MTN controlling about 35
percent of total market share with its
MTN Music Plus service, while
Apple's iTunes leads the other non-
telecommunication platforms.
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Title :
GIST: Wizkid, Olamide,
Davido, Tekno
are top earning
artistes in 2016 | @360rhymes_com
Description : Digital music downloads and streaming in Nigeria have become the most favourable source of revenue for local musicians, particula...
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