Connect with us

Entertainment

Music Streaming Revenue To Hit $23 Billion In 2021 – Report

Published

on

Like many other sectors, the music industry has been significantly affected by covid 19 pandemic with the massive cancellations of live events and huge ticket sales revenue drops amid the lockdown with earning from live music events shrunk to the lowest level in the industry, artistes increasingly rely on income from streaming platforms.
According to data presented by Buyshares. co.nz, music streaming revenues are expected to hit $23 billion in 2021, a 50 percent increase compared to precovid 19 figures. Even before the pandemic, the music streaming industry witnessed impressive growth with revenues rising by a CARG of 20 percent year-over-year. Statistical survey showed that in 2017 the unified market was worth $10.5 billion, in the next two years this figure jumped to $15.2 billion. However, last year music streaming platforms witnessed the biggest annual revenue growth as covid 19 halted live events. Statistic show that revenues surged by almost 30 percent year-over-year and hit $19.7 billion in 2020.
The statistical survey showed the number of people using music streaming platforms also surged amid the pandemic and jumped from 425.6 million in 2019 to 626.2 million in 2021, more than 900 million people worldwide are expected to use music streaming service in the next four years.
As the world’s largest music streaming market, the united states of America is expected to reach 100.7 million users and $8.7 billion in revenue in 2021, a 16.6 percent increase in a year.
The Chinese market, the largest market globally is forecast to grow by 20 percent yoy and hit 2.2 billion value this year, almost four times less than the leading US. Nevertheless, with 177.7 million users in 2021, the country has the largest number of people using music streaming service globally.
According to Hootsuites Digital 2021 report, more than 81 percent of surveyed internet users in China reported listening to music streaming service last year, the united kingdom (UK) ranked as the third largest music streaming market with $1.4 billion in revenue this year.
As the biggest music streaming service globally, Spotify (NYSE SPOT) hits 34.5 million monthly active users and 155 million premium subscribers in December 2020 a 25 percent jump in a year.
While Apple (APPL:NASDAQ) hasn’t publicly commented on its subscriber count since reaching 600 million in June 2019, estimates from MIDIA Research put Apple music subscribers at 72 million in 2020 or half the Spotify count.

 

By: Jacob Obinna

Continue Reading

Entertainment

Davido Narrates How His Song Became President’s Ringtone

Published

on

Nigerian megastar, Davido shares how his father recognised that his music was getting big.
Davido says his hit single ‘Dami Duro’ was the president’s ringtone
During an interview with newsmen, Davido spoke on the early days of his career and how he eventually got his father’s approval to make music.
The Grammy nominee shared the familiar story of how he left school in Atlanta and returned to Nigeria to pursue music without his father’s blessing which later led to his business mogul dad getting him arrested.
“I don’t think he did not want me to do music, he just wanted me to be successful as whatever I did because he got a blueprint for me already,” Davido said on his father’s early reaction to his decision to make music.
“He is so supportive and he checks on everything…My dad picks my album. When I am done, I send him all the tracks and my dad goes through all the records and gives me a paragraph each,” Davido narrates the personal interest and support his Dad gives him.
“My dad gave me the name Davido…The first show I did, he arrested me, the fans, the promoters,” Davido said laughing as he narrated the story of how his father got him arrested after he returned to Nigeria without his consent and had his first show as a 17-year-old. “He just wanted me to finish school,” Davido added about his father’s insistence that he get a university degree.
The three time Grammy nominee was asked when his father recognised that his music was getting big and he revealed it was when his hit song ‘Dami Duro’ was the president’s ringtone.
“When my song was the president’s ringtone,” Davido said.
While he did not mention the president or the country, Davido is likely referring to the exploit of former Nigerian president Goodluck Jonathan who was the head of state between 2010 – 2015.
During the interview, Davido also mentioned his plans as a businessman beyond music. He revealed he had a production house called Coco House which he describes as a media house for creatives. He also added that he intends to get into crypto.

Continue Reading

Entertainment

Funke Akindele’s New Film Premiers, Dec

Published

on

Nollywood actress and filmmaker, Funke Akindele has announced that her upcoming film, Everybody Loves Jenifa, a spinoff from the Jenifa franchise will premiere in December.
“Been long you saw Jenifa!!!!”  Akindele said.
While a December premiere is confirmed, details on the film remain unknown. However, the new title, Everybody Loves Jenifa, suggests a potential return to the core elements that have made the franchise popular. With Akindele leading the creative team, viewers can anticipate the return of familiar characters and humorous storylines.
The sitcom, Jenifa’s Diary has been a major Nigerian television show since its debut in 2015. The series centres around the main character played by Akindele, and has featured Folarin “Falz” Falana, Lolo, Juliana Olayode, Lota Chukwu, Paschaline Alex Okoli, and late Aderounmu Adejumoke.
The Tide Entertainment reports that it has also had spin-offs and sequels like Aiyetoro Town (2019), which is set in Jenifa’s village, and Jenifa on Lockdown (2021).
Akindele played Jenifa in the first film in the franchise, Jenifa (2008), a village girl who travelled to the city in pursuit of fortune. Muhydeen S. Ayinde directed the movie.
The movie was nominated for four Africa Movie Academy Awards in 2009 including, Best Original Soundtrack, Best Actress in a Supporting Role, and Best Nigerian Film. For her performance in this movie, Akindele took home the Africa Movie Academy Award for Best Actress in a Leading Role.

Continue Reading

Entertainment

Halliday  Attributes Collaboration Hindrance To Sentiments, Others

Published

on

The convener, South South Media Week, Tammmy  Halliday has attributed the lack of unity and collaboration in the PortHarcourt  entertainment industry to sentiments, baggages and trust issues.
He made this known yesterday, during an interview with newsmen in Port Harcourt.
According to him, some things that spur baggages are family background, personal experience with colleagues or other people, saying that when someone has been reaped or used by  any of his colleagues or someone else, he might not want to work with some other persons because of trust issue.
This goes along with baggages, where he now sees his other colleagues as one and same with the one who used him and so this continues to hinder collaborations in the industry.
He advised that as an entertainer you should get better, visible and  exposed as the industry required.
He said  that the key factor that can help collaboration is growth, explaining that growth would make entertainers live beyond baggages, adding that if you are good at what you do, and know what you want and where you are going with it , then you are good to go.
“You can seek an advice from a legal practitioner, professional or a senior colleagues to ensure that you (entertainer) get it right.
It is not a bad idea to serve or work with someone, because you serve to rise in the industry. You have to be well  rooted, but, you should be able to know want you want and where you are going with what you do, this will help you move on, when it is no longer working for you, otherwise, you will remain there and keep complaining and then it gets to that point where you begin to see that person as a reaper,” he said.
Mr Halliday who also do corporate social responsibility award via his platform,  South South Media Week stated that critical communication is important in any situation, with a critical approach,  no doubt you will  always be on the right track.
Speaking on criteria for awarding awards, he maintained that it is on numbers, affiliations, fanbase, followership, association and sales of the person or organisation in question, saying that these also works  for collaboration with an artiste, because they are factors that facilitate growth in the industry.
Categories of award that are  awarded through the platform includes, entrepreneur award of the year, innovation award of the year and others.

Nancy Briggs

Continue Reading

Trending