The music industry in Nigeria is one sector that has made remarkable giant strides and has put the country on the world map. Just like the fintech ecosystem in the country that is currently booming, which is the home of many unicorns, the music industry is also doing remarkably well.
Recently, music streaming giant Spotify disclosed that 20,935 songs were added to the platform by Nigerian creators since market entry, which has placed Nigeria as the second country with the most musical streams. This was disclosed by Phiona Okumu, Spotify’s head of music for sub-Saharan Africa, during a media chat in Lagos on Thursday.
She also added that in the top 10 exported songs from Nigeria, nine are collaborations between local and international hitmakers, proof that Nigerian music is attracting worldwide attention and popularity. According to facts obtained, Spotify disclosed that the average number of artists streamed per user locally has grown by 60%.
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Lately, not only has Nigerian music gained popularity globally, different African genres of music most especially the famous Afrobeat have permeated into the International scene which has seen it gain global acceptance with so many foreigners vibing to it. A lot of Nigerian artists lately have been intentional in perfecting their craft and maintaining excellence, which has seen a lot of them gain global recognition which is a huge feat.
The music industry has become highly competitive, which has seen the music bar raised to a very high standard. Any music artist who wants to thrive in the Nigerian music industry has to be Intentional about producing quality sounds. It is also interesting to know that two Nigerian artists Wizkid and Burna Boy have both brought home the grammy which is a very prestigious award.
Some of these Nigerian artists have done so many sold-out concerts, with some selling tickets under hours and minutes. The famous 02 Arena, which is the second-highest seating capacity of any indoor venue in the United Kingdom which holds a total of 20,000 seating capacity, have on several occasions been sold out by some Nigerian artists.
There is no disputing the fact that one thing that gives most Nigerians joy is the music that emanates from the country. It’s more like a therapy that sustains the people despite the plague of insecurity, corruption, and the likes that has ravaged the country.
Beyond the soothing melodies produced by these artists, the music industry is one sector that has contributed greatly to youth empowerment, where talented youths get signed by record labels giving them a source of livelihood. According to statistics, Nigeria’s music industry is expected to be worth $44 million in revenue by 2023. This is indeed impressive.
One amazing thing I have witnessed is that there has been a paradigm shift in the choice of music by Nigerians. Back in the days, a lot of Nigerians preferred foreign music to their local music. Some even disclose how they never listen to Nigerian music due to how wack they feel it is. But now, the narrative is different, as most Nigerians now prefer their local songs and artists compared to foreign songs. Lately, there has been an increased international demand for Nigerian artists, which is indeed good business for them.
