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AFC: PwC - Ringback tones to boost Nigeria’s music industry

on October 18, 2018

music industry Nigeria’s music industry Ringback tones

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AFC: Kenya, Tanzania expect boost in digital music revenue

By Lucy Ilado Kenya’s music revenue is expected to accelerate faster than Tanzania’s in the next five years. Kenyan artists are expected to reap from ringback tones. This is according to a new report by PricewaterhouseCoopers (PwC). The report presents historical data for 2013-16 and annual forecasts for the 2017-22 period in 14 entertainment and media segments for South Africa, Nigeria , Ghana, Tanzania and Kenya. PwC predicts that Kenya’s music revenue will continue to grow over the next five years with the bulk of growth coming from recorded music revenue as well as mobile and ringback tones (RBTs). This is despite the fact that the country’s royalty collection system is not yet fully formalised. The presence of international music labels is expected to propel the market to surpass $35m in 2022, at a 9.8% compound annual growth rate (CAGR). “Safaricom has a licensing agreement with Sony Music Entertainment...

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