Sony Music Entertainment has announced expansion plans, its operational presence across Africa is part of a long-term strategy to open offices in key markets in the region. In connection with the opening of operations in Lagos, Sony Music recently signed Nigerian music star Davido on to a worldwide deal.
Having opened an office in Lagos, Nigeria to serve as the new hub of its on-the-ground operations in West Africa, Sony Music has named music business entrepreneur Michael Ugwu as General Manager for the West African region.
“Expansion in Africa has been part of our strategy for several years,” said Adam Granite, President, Northern & Eastern Europe and Africa, Sony Music International.
Recently the company began the process of company registration in Nairobi, Kenya, which will anchor the Sony Music’s physical operations in East Africa. These moves build upon Sony Music’s existing business initiatives in Africa, where the company is already a market leader.
“As the region continues to grow, we see significant opportunities to market the incredible local talent in Africa to the rest of the world as well as import our repertoire and exploit it on emerging digital platforms.” said Sean Watson, Managing Director of Sony Music Entertainment Africa,
Sony Music earns revenue from partners including Vevo, YouTube, Apple Music and iTunes. In addition, in West Africa, music content is currently available through MTN Nigeria’s service via IMI, and in East Africa Sony Music currently conducts trade through Safaricom, Kenya’s largest mobile network operator, a company that boasts in excess of 10 million CRBT subscribers.
With over 800 million people living in Sub Saharan Africa, the African continent is a market with huge potential for local artists wanting to expand their horizons.
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NEW REPORT: Nigerian startups raised $28.35m in Q2 2020; only about 4.5% of that came from local investors. Find out more in the full report.
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