Global media and music brands are racing to claim a stake in Africa’s music market as internet and smartphone penetration popularize artists and genres far beyond Africa’s borders.
Africa is no doubt a culturally diverse continent.
Companies are taking note of global interest, with Universal Music Group (UMG.AS)launching Virgin Music Africa Label & Artist Servicesin June for independent African labels and artists. The service will digitise out-of-print music catalogues to tap into the growing market for the sounds and chart-toppers of the continent.
Music streaming platforms including Spotify (SPOT.N), Apple Music and Boomplay are also entering the market with dedicated and expanded offerings and services.
The interest from global companies is coming as African artists headline festivals and concerts such as, Afro Nation in Portugal and Africolor in France and genres including Afrobeat, Rhumba and Amapiano are topping charts.
