MTN Digital music conference

Ghanaian musicians have been advised to take music as a very lucrative venture by digitizing and monetizing all their creative works.

The Senior Manager of MTN Ghana Product and Services, Mr. Bless Sefenu Agordjo, gave this salient advice during MTN Digital Music Conference, which was held in Accra with the aim of creating ways to help the digitization and monetization of music from local artistes.

The music conference which was the first of its kind was themed: “The music industry and adapting to the emerging global technologies; opportunities and challenges,” saw various music stakeholders across the continent coming together to cross-fertilize ideas on how to tackle the various challenges confronting the local artistes in promoting their music.

According to Mr. Bless Sefenu Agordjo, Telecommunication giants, MTN, is always poised in helping artistes thrive in their endeavours especially considering their vast reach on the Africa continent.

This he said, the MTN has acquired an online music distribution platform known as CIMS which would enable their 200million subscribers have access to locally manufactured songs. It is in this regard, we are urging artistes to take advantage of our 200million subscribers.

Adding that, a subscription model where mobile money can be used to purchase music would be provided so as to make songs accessible and affordable in the country.

The Managing Director of Universal Music Africa, Mr Sipho Dlamini, urged artistes, managers and producers to take up doing music as a business and not a hobby.

He entreated artistes to identify the roles of each member of their management as it will aid them in understanding the business aspect of doing music.

Mr Dlamini urged musicians to adapt modern trends and capitalize on ways getting their music to their fans especially with the revolution in the distribution of music.

“Total streaming revenues increased by 41.1% and, for the first time, became the single largest revenue source,” the International Federation of the Phonographic Industry (IFPI) reported in 2018.

“By the end of 2017, there were 176 million users of paid subscription accounts globally, with 64 million having been added during the year.”

Although global music revenue is still affected by piracy, the gap between digital and physical music revenue has widened. “Digital revenues grew 19.1% to $9.4 billion and, for the first time ever, accounted for over half (54%) of total recorded music industry revenues worldwide.

The global surge in streaming was a key driver, up 41.1%, with paid subscription audio streams up 45.5%. Following a 20.5% decline in revenue, digital downloads accounted for 20% of global digital revenue overall,” IFPI said.

On the other hand, revenue from physical revenues has declined, said IFPI, “by 5.4%, a slightly higher rate than the previous year (4.4%). Consumption of physical formats declined in the majority of markets.”

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