Nigerian Music Streaming Revenues Surge Amid Global Recognition in 2021

Nigerian music streaming revenues have surged in 2021, fueled by the global recognition of Afrobeats and an increasing number of digital consumers across the continent. Industry reports reveal that revenue from music streaming in Nigeria has grown significantly, reflecting the rapid digital transformation in Africa’s largest music market.

According to the Nigerian Entertainment and Media Outlook, the country’s music streaming revenue is expected to reach $40 million by the end of 2021, marking a significant increase from previous years. This growth is largely driven by the international success of Nigerian artists such as Burna Boy, Wizkid, and Davido, whose music has transcended borders and gained global popularity.

The Impact of Global Recognition

The global recognition of Afrobeats has been a key factor in this revenue surge. With Nigerian artists being featured on international music charts, global platforms like Spotify, Apple Music, and YouTube have seen a growing number of users streaming Nigerian music. This has allowed Nigerian music to penetrate new markets, attracting both local and international listeners.

For example, Wizkid’s Made in Lagos album and Burna Boy’s Twice as Tall album have received widespread acclaim, earning Grammy nominations and dominating streaming platforms worldwide. As a result, the global audience for Nigerian music has expanded, leading to a surge in paid subscriptions and ad-supported streams on various digital platforms.

Digital Growth and Local Platforms

In addition to global platforms, local streaming services such as Boomplay and Audiomack have played an important role in driving music streaming revenue in Nigeria. Boomplay, one of Africa’s largest streaming platforms, reported a 30% increase in users during the first half of 2021, with Nigeria accounting for a significant portion of its growth.

Spotify also launched in Nigeria earlier this year, significantly boosting the local streaming market. The platform has been rapidly gaining subscribers due to its extensive library and curated playlists that appeal to Nigerian music fans.

Future Projections

With the continued rise of Afrobeats on the global stage and the expansion of digital streaming services, experts predict that Nigeria’s music streaming revenues will keep growing in the coming years. Industry stakeholders believe that the increased accessibility of streaming platforms and the growing internet penetration in Nigeria will further boost revenue streams, giving artists more opportunities to monetize their music.