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Universal Music Group to expand operations in Nigeria

Universal Music Group has announced an African expansion to include Nigeria and a few other countries in the continent.

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Global Music publishing giant, Universal Music Group, has announced plans to expand operations in Africa in countries such as Nigeria, Ghana and Kenya in 2021.

This was disclosed by the group’s regional CEO, Sipho Dlamini, in a Bloomberg report on Monday. The CEO also revealed that Universal Music had opened an office in Ivory Coast to tap into the francophone music scene.

“We are thinking long term and looking to build lasting infrastructure in order to support African talent for years to come,” Dlamini said. “We want to expand the possibilities for that talent to reach new audiences around the world.”

Universal Music plans to take advantage of the large music and tech adoption by younger Africans in a bid to secure streaming revenue. The CEO also revealed that Universal, just like its rival Sony, plans to sign more African musicians and also build more recording infrastructure for the continent for a wider reach.

Bloomberg disclosed that the recorded music revenues in Africa and the Middle East had totalled $100 million in 2019.

“There has never been a more exciting time for African music around the world, as it continues to influence and inspire culture and creativity, while reaching a wider audience globally each day through streaming,” Dlamini said.

The CEO added that Universal Music was also working with major African Telco operators including g MTN Group Ltd, Vodacom Group Ltd, and Orange SA in a bid to boost its operations in the continent.

What you should know 

  • The plan to expand operations does not come as a surprise, as Nigerian musicians recorded success in 2020 due to streaming.
  • It was reported last month that David Adedeji Adeleke, better known as Davido, revealed that his third studio album had surpassed 213.2 million streams across all platforms in a month.
  • Nigerian Afrobeats star, Oluwatosin Ajibade, popularly known as Mr Eaziannounced an experimental plan for his music fans and investors to buy shares in his songs.
  • It was reported in July that Mr Eazi raised $20 million for his Africa Music Fund (AMF) to invest in the careers of African music talents.
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Entertainment

Lil Wayne sued by former manager for more than $20M over past earnings

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Lil Wayne has been sued by his former manager Ronald Sweeney for more than $20 million over past earnings.

According to court documents obtained by TMZ, Lil Wayne hired Sweeney in 2005 to help him negotiate his contract with Birdman’s Cash Money over their years-long legal dispute, which was ultimately settled back in 2018 with Sweeney’s help.

However, the lawyer says he was not fully compensated for his work in the Cash Money deal.

According to Sweeney, the rapper asked him to fire his then-manager Cortez Bryant, paving the way for him to take over the manager role at the rapper’s request.

The suit claims Wayne raised his commission fees from 10 percent to 17 percent, but Bryant and rapper/music executive Mack Maine “conspired to drive a wedge between the rapper and Sweeney.”

The attorney says the efforts paid off, as Lil Wayne fired him in September 2018.

This lawsuit comes about two years after Lil Wayne sued Sweeney for $20 million, claiming his ex-attorney/manager was unfairly charging him 10 percent for every deal he helped close, which is much higher than the industry standard of 5 percent.

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Entertainment

Mr. Eazi plans to sell shares of his streamed music

Nigerian musician, Mr. Eazi has urged fans to own equity shares of his music and stream to earn money.

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Nigerian Afrobeats star, Oluwatosin Ajibade, popularly known as Mr Eazi, announced an experimental plan for his music fans and investors to buy shares in his songs.

Mr. Eazi disclosed this in a social media statement on Wednesday. He added that investors will own equity in his songs and earn income on streaming revenue.

He disclosed that he has been in the list of top 5 most streamed African artist since 2016 and tweeted:

Gonna try an experiment on my next release where you guys the fans will be able to buy shares on My song! Meaning you will own an equity % on the song! As u stream & give me $, some goes back to You! I have consistently since 2016 been Top 5 most streamed African Artists & that’s 100% due to my fans!! I love you guys!! And it’s time to get you in on the equity side.

“Imagine you had a % of my last song with Nicki or my new single “LENTO” with Jbalvin!!! As u stream u make it a hit, some of the $ comes to you! But, most importantly you are a true part of the Global Smash Hit you helped create.

Why this matters: If Mr. Eazi is successful with his equity sharing plan, it will give Nigerian investors an indirect means to invest and earn in foreign exchange in Nigerian Entertainment, and reducing barriers to entry for Nigerian music investments.

What you should know 

  • It was reported in July that Mr Eaziraised $20 million for his Africa Music Fund (AMF) to invest in the careers of African music talents.
  • He explained that his intention was to create a new platform to fund the music entertainment ecosystem in Africa, adding that the entertainment ecosystem is not understood by instuitional investors in Africa and leads to limits in funding the industry.
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Entertainment

N6 calls Beyonce a ‘culture vulture’, ‘witch’ and ‘werey’ after her statement on the Lekki toll gate shootings

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OAP Nnamdi “N6” Nwabasili has slammed Beyonce following her statement on the shooting of End SARS protesters at the Lekki toll gate.

N6, who says he was at the Lekki toll gate when the shootings happened and has narrated the incident via his Instagram, shared Beyonce’s statement on the shootings to his Instagram Stories. He then tore her apart for it.

He called her a “culture vulture” who finally spoke up only after she saw blood. He also called her a “witch” and said he’s not surprised she has been silent all along when she was also silent while her sister beat her husband up in an elevator.

In another slide, he called her a “werey” ( mad person) and said her message as regards End SARS is “tone deaf”.

He also rubbished Beyonce’s claim in her statement that she is “collaborating with coalitions to provide emergency healthcare, food and shelter.”

N6 asked which Nigerian has received “Beyonce’s care package” then asked her if Ngerians told her they are hungry.

He said she’s lying, adding that only ”Americans and senseless people hail her and buy her overpriced Chinese knockoff Ivy leggings.”

“Cancelled in Nigeria forever. Werey,” he wrote at the end of his message.

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