How much is the Nigerian music industry worth?
Total music revenue is estimated to rise to $73 million at 13.4% CAGR in 2021. As of 2021, the local industry employs about a million people and generates over $8 billion for the economy.
How big is Nigerian music industry?
34 million dollars
Also, a study conducted by Statista in Nigeria revealed that the music sector’s revenue grew from 26 million US dollars in 2014 to 34 million dollars in 2018. This figure according to the research and projection by Statista, is expected to grow to 44 million dollars by 2023.
Who is the king in Nigeria music industry?
1. Wizkid – No of Awards is 68. Wizkid has been dubbed a music legend for taking after Fela Kuti and contributing immensely to the African sound’s global acceptance (Afrobeats). The Afrobeats singer has always been compared to his colleague, Davido – another big Nigerian music industry player.
Which country has the biggest music industry in Africa?
The African music market is, of course, not one single market. South Africa is the biggest music market in Africa, but it is part of a continent of countries each with their own rich musical heritage, and varying levels and speeds of development of industry structures and digital music services.
Which country has the biggest entertainment industry in Africa?
Nigeria is a great example of success in this respect. Nigeria’s film industry, called “Nollywood”, produces 2500 movies each year. It is Africa’s biggest and the world’s second-largest film industry by volume, placing it right behind India’s Bollywood.
Which African country has the biggest music industry?
South Africa is the biggest music market in Africa, but it is part of a continent of countries each with their own rich musical heritage, and varying levels and speeds of development of industry structures and digital music services.
Who is the first artist in Nigeria?
Ben Enwonwu (MBE, NNOM) is a first generation Nigerian painter and sculptor who, being the first Nigerian artist to gain international recognition is arguably Africa’s most influential artist of the 20th century.