FOREIGN DOMESTICS: WHICH WAY FOR THE NIGERIAN MUSIC INDUSTRY?
The recently announced deal between Chocolate City and Warner Music is another important step for the Nigerian music industry. The deal…
The recently announced deal between Chocolate City and Warner Music is another important step for the Nigerian music industry. The deal advents the final validation of the three largest music companies in the world that Nigerian music is firmly on the global radar.
This latest deal is arguably the “safest” of the moves into the Nigerian terrain by the majors. It is reported to be a label-partnership arrangement that will see Warner provide backing to Chocolate City with respect to the latter’s artist development activities as well as handling the Nigerian label’s international distribution. It’s unclear how much of said “backing” is financial.
Sony and Universal went a step further to each set-up shop in Nigeria, with both alo signing artists directly, and Universal additionally making plays in the live sector. Throw into the mix the recent investment in Mavin Records by private equity/VC firms Kupanda Capital and TPG Growth, and all these developments indicate that global market is beg…