Copyrights and the Music Business

The Nigerian music industry is arguably the most vibrant in Africa, with a reported total revenue of US$39 million in 2016, projected to rise at a 13.4% Compound Annual Growth Rate to US$73 million by the year 20211. Although this revenue figure is relatively small compared to more developed markets outside Africa, the potential for growth is significant. This singular fact has piqued the interest of major international music conglomerates2 around the world, some of whom have taken unprecedented strides towards securing a strong market presence in Nigeria’s music industry by partnering with local record labels and entering recording contracts with a number of popular local talents.