Restructuring the Nigerian music industry
The Nigerian music industry has come of age and at present, it is regarded as the biggest music market in Africa, with a lineup of A-list artiste like Wizkid, Davido, Burna Boy, Olamide, to mention but a few.
The Nigerian music industry has proven to be the home of entertainment and the apex ground for music in Africa. With success in streaming, digital sales sold-out concerts, and the likes, it is safe to say the Nigerian music industry is no match for any music market in Africa.
However, there’s room for improvement and positive change to make the Nigerian music market even better and bigger. These changes require a well-organized base that will give the industry a new face and with appropriate structure put in place to achieve these goals.
A major limitation in the Nigerian music industry is the lack of structure in the operation of record labels and the vulnerability of intellectual property of our artists. It is sad to say that majority of the record labels in Nigeria do not have a wellgrounded idea of running a record label and they also lack organizational structure.
Having a good organizational structure is important to the music business as it will attract chains of interest from investors and associates that will give huge boost to the economy of the country. This interest includes collaborations with multinational corporations, international labels, distribution companies and other related agencies.
Surprisingly, the most shocking of all these limitations is the fact that Nigeria is yet to have a trade organization that represents the recording industry in Nigeria. This company helps to oversee, supports, and promotes the creative and financial vitality of the major music companies.
It is also important to note that if the Recording Industry Association of Nigeria (RIAN) is staged, it can work closely with popular music download sites like Notjustok, Tooexclusive, 360nobs, Boomplay, Naijaloaded and the likes to stream and buy songs at a very affordable rate, thereby giving the above sites an opportunity to upgrade and rebrand like iTunes, Tidal, Spotify, Deezer, Amazon, and the likes.