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The Promise Land: Can Africa Save The Music Biz?

Africa’s perceived need for aid and assistance has been a hot topic for decades. Less of a talking point is the wealth of opportunities that exist on the continent. According to The Economist, “Over the past decade 6 of the world’s 10 fastest-growing countries were African” and “In 8 of the past 10 years, Africa has grown faster than East Asia, including Japan.” Africa is home to the largest youth population in the world and its growing middle class includes 313 million people or 34 percent of the total population. These trends make apparent Africa’s huge market potential. Now consider the continent’s increased access to broadband and mobile music platforms penetration of the market, and it becomes clearer the opportunities that exist in doing music business on the continent. This panel will look at what Africa’s growing economy and youth population mean for the Music Industry, as well as the partnership opportunities that exist locally for foreign investors, artists and record labels.

Questions Answered

  1. What is the economic impact of the music industry in Africa? How does it affect the local economy and the lives of people locally?
  2. What foreign companies are doing business within the music industry in Africa and having success? What strategies did they employ to enter the market?
  3. With a growing economy and youth population what opportunities exist with in the local music industry? What are some of the challenges and barriers to entry for artists, labels and investors?
  4. Africa has the fastest growing mobile phone market, with more mobile phone subscribers than America or Europe. Africa is predicted to have over 800 million mobile phone users by 2013. With most Africans accessing the web via their mobile devices what do these numbers mean for the music industry?
  5. How are business on the continent partnering with artists, record labels and brands from overseas?

Speakers

Organizer

Ngozi Odita Society HAE


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