Sunday, November 24African Digital Business Magazine

Tag: Music Industry

Zimbabwe News

The Real Need for an African Glocal Music Academy—Meeting the Financial Needs of Local Musicians Across the Continent

By Walter Wanyanya, a Board member of African Cultural Connections (ACA) and Founder & Artistic Director of the Jacaranda Music Festival, Jabulani Jazz Festival, & the Flame Lily Rock Music Festival in Harare, Zimbabwe.  Music in Africa has long been more than just an art form—it is a powerful tool for communication and storytelling, reflecting the continent’s rich and diverse history. Despite Africa’s global recognition in the music industry, many local musicians face financial struggles, preventing them from fully reaping the benefits of their talent.  Fragmented national music industries, lack of infrastructure, and limited financial support have left artists with little resources to sustain their careers. Establishing an African "Glocal" Music Academy, bridging global and loc...
Business, Main

Op-ed: Why Africa is the Next Big Opportunity Amid Global Slowdown in The Music Industry

By Faisal Kiwewa, Arts Connect Africa (ACA) Board Member and Founder and Director at BAYIMBA Cultural Foundation The global music industry is experiencing a slowdown, with streaming growth decelerating and major players like Apple and Amazon needing help to expand their user bases. Music companies are scrambling to find new revenue streams as the industry enters a slower-growth era. According to a report by Goldman Sachs, global music streaming revenue is expected to grow at a compound annual growth rate (CAGR) of 8% from 2022 to 2030, a slowdown compared to the 18% CAGR from 2017 to 2021. While the West grapples with these challenges, Africa’s music industry is  growing into a vibrant, untapped market with immense potential. Africa: A Growing Market with Unique Opportunities Africa's ...