april-2019

54 / BUSINESS / Afrobeats
Alamy
the interest of record companies in the
US. In 2011, American rapper Kanye
West signed D’banj to his music label,
GOOD Music. Soon after, Senegalese-
American rapper, Akon, would take on
Wizkid, 2Face Idibia and P-Square. “The
way the world defines sophistication is its
proximity to westernisation,” says
Aibokhaevbolo. This stamp of approval
from abroad certainly emboldened both
artists and producers alike. Given that
radio was still a big part of how people
discovered music at the start of the
Afrobeats explosion, the scramble to get
airplay was on. The producers had to
become more and more innovative, so
they began to experiment even further
with the fast-to-mid-tempo Afrobeats
sound. Leriq, Sarz and the Oniko
“The genre is beloved as much on the continent as
it has come to be abroad”
FACTS AND FIGURES
• Davido received the BET Award for
Best International Act in 2014 and
2018. And he made history by being
the first African winner to receive
his award on the main stage during
the live show.
brothers, better known as Legendury
Beatz, were among those steadily churning
out hits. Others, like Don Jazzy,
joined the fray as musicians.
PIRATES & PROFITS
However, as with any blooming
enterprise, the Nigerian music industry
has long attracted all manner of profit
seekers. Piracy is especially rife in Lagos’
Alaba International Market, an electronics
market in Ojo. It’s estimated that
entertainers lose as much as US$277
million annually in Nigeria. Bootlegged
music is openly available for purchase
alongside curated mix tapes where eager
artists will pay for the opportunity to
include their song and hopefully break
into the music scene.
There are legitimate avenues of profitmaking
still available to the stars. Live
performances and brand endorsements
are the most coveted, but selling ring
tones through telecoms operators, and
physical album sales through licensed
dealers, have shown considerable returns.
With the proliferation of smartphones
and increased Internet access, Afrobeats
artists have been able to capitalise on
sanctioned downloads and streams. The
PricewaterhouseCoopers’ Entertainment
and Media Outlook 2018-2022 report
estimated that Nigerian music revenues
would climb to US$65 million by 2022.
(In 2017, this figure was US$35 million.)
This optimistic outlook is bolstered by
the continued rise in the profile of
Afrobeats artists. For instance, Burna
Boy and Mr Eazi are scheduled to
perform at the 2019 edition of the iconic
music festival, Coachella, which takes
place in California.
“I think the music will continue to
grow. People are open to different variations
of what the Afrobeats sound could
be. The best thing about all forms of
Nigerian music is that people are proudly
themselves,” says Davies.
• Tiwa Savage has been a Pepsi
ambassador since 2012. Her net
worth is reportedly US$5 million.
• Aside from Azonto, other major
Afrobeats dance routines include:
Alingo, Shaku Shaku and Shoki.
• In 2018, Wizkid took to the Dolce &
Gabbana catwalk in Milan, Italy.
• Ghanaian artists Sarkodie,
Stonebwoy and Shatta Wale
accrued 9 million, 6 million and
4 million streams respectively on
Spotify in 2018.