Nigeria has come a long way in terms of evolving
the music scene and several Nigerians now rely
on music streaming to get access to music. Music
download and streaming has become the best way
for Nigerian musicians to earn revenue.
The earnings are estimated between $US15
million and $US20 million monthly, which amounts
to between $US180 and $US240 million annually,
according to Sam Onyemelukwe, managing
director, Trace EMC Limited.
This comes to between N54.9 billion and N73.2
billion annually, based on an average official
exchange rate of N305 to the US dollars.
Tekno, Olamide, Wizkid and Davido according to
Onyemelukwe have been named top artistes and
earners from music downloads and streaming.
In an exclusive network at The Brook,
BusinessDay’s corporate office in GRA, Apapa,
Lagos on Tuesday, December 29, 2016, the Trace
boss said that about 80 percent of music
downloads in the country are the works of
Nigerian artistes and are done primarily on mobile
Onyemelukwe revealed that telecommunication
companies lead others in the music download and
streaming business in the country, with MTN
controlling about 35 percent of total market share
with its MTN Music Plus service, while Apple’s
iTunes leads the other non-telecommunication