{"id":2467,"date":"2022-01-18T11:56:26","date_gmt":"2022-01-18T10:56:26","guid":{"rendered":"https:\/\/ancstockinvestments.com\/blog\/?p=2467"},"modified":"2022-01-18T11:56:30","modified_gmt":"2022-01-18T10:56:30","slug":"warner-music-group-buys-african-music-distributor-africori","status":"publish","type":"post","link":"https:\/\/ancstockinvestments.com\/blog\/2022\/01\/18\/warner-music-group-buys-african-music-distributor-africori\/","title":{"rendered":"Warner Music Group Buys African Music Distributor Africori"},"content":{"rendered":"\n
\n

Warner Music Group (WMG) has bought a majority stake in Africori, a leading African digital music distribution, music rights management, and artist development company, in a move that could make Warner the top music distributor in Africa, opening up more opportunities for African artists to tap into the global market.<\/p>\n

WMG first purchased a stake in Africori in 2020, gaining access to the distributor\u2019s vast catalog,\u00a0 artist and repertoire network,\u00a0enabling the global record label to establish a presence in many African<\/a> markets.<\/p>\n

Founded in 2009 by Yoel Kenan, Africori works with independent African artists and labels from the continent and its diaspora. The company handles distribution, music rights management, and artist development for 7,000 artists, including Kenyan stars Nyashinski and Bensoul, and South Africa\u2019s Sho Madjozi and Master KG of the 2020 global hit<\/a> \u201cJerusalema.\u201d<\/p>\n

\u201cWith Master KG, we worked closely with the Africori team to take a local hit and connect it with people around the world,\u201d Temi Adeniji, the managing director for WMG\u2019s African affiliate, Warner Music South Africa, said in a statement announcing the deal<\/a>. \u201cThis new deal positions us as Africa\u2019s leading distributor and I\u2019m confident that in joining forces, Warner Music South Africa will be in a great position to deliver more wins like \u2018Jerusalema\u2019 in the future.\u201d<\/p>\n

Africori, which has offices in Johannesburg, London, and Lagos, will continue to operate as an independent company, with founder and CEO Yoel Kenan remaining in his role.<\/p>\n

Also Read: Netflix is Now More Expensive Than HBO Max<\/a><\/h5>\n

Africa\u2019s music industry is on a global rise<\/h2>\n

Boosted by a youthful population, great musical talent, and increasing streaming opportunities, Africa\u2019s music industry is on the rise globally<\/a>. Global interest in African music has been driven by platforms<\/a>\u00a0such as YouTube, SoundCloud, and Twitter, making continental sounds like west Africa\u2019s afrobeats<\/a> and South Africa\u2019s amapiano become popular worldwide.<\/p>\n

Also looking to cash in from the growth of Africa\u2019s music industry are homegrown streaming apps<\/a> like Boomplay and Mdundo and international ones such as Spotify and Apple Music.<\/p>\n

WMG\u2019s move follows the record label\u2019s announcement of a 360 partnership with Tanzanian artist Diamond Platnumz and his record label, WCB-Wasafi, last year. It is part of a bigger strategy by the world\u2019s biggest record labels to position themselves for a share of the continent\u2019s growing music earnings<\/a>.<\/p>\n

WMG, Sony Music, and Universal Music Group\u2014the so-called Big Three\u2014and others are signing African artists, hiring employees for their African operations, and signing deals with local labels and streaming companies. In 2018, Universal purchased a major stake<\/a> in Kenya\u2019s AI records, giving the global record label access to one of the largest catalogs of East African music.<\/p>\n

The inevitability of consolidation of global and African entertainment companies<\/h2>\n

Consolidation of global and independent African entertainment companies is inevitable for distribution \u201cbecause entertainment platforms need global scale to survive,\u201d Marie Lora-Mungai, founder of the African creative industries advisory firm Restless Global<\/a>, tells Quartz.<\/p>\n

The advantage, she says, is that experienced entertainment providers with global reach will help grow African talent and intellectual property (IP) worldwide. She however stresses the importance of the IP remaining at least partially owned by its African creators for the future of the continent\u2019s creative industries.<\/p>\n

\u201cWith the appeal of African music, film, art, and fashion at an all-time high, African creative entrepreneurs are in a good position to seek and negotiate true win-win partnerships,\u201d says Lora-Mungai, who is also the publisher of the Hustle & Flow<\/a> newsletter on investing in African entertainment.<\/p>\n

S<\/strong><\/em>ign up to <\/strong><\/em>the Quartz Africa Weekly Brief here<\/em><\/a><\/strong> for news and analysis on African business, tech, and innovation in your inbox.<\/strong><\/em><\/p>\n<\/div>\n\n

Source link <\/a><\/p>\n","protected":false},"excerpt":{"rendered":"

Warner Music Group has bought a majority stake in African music distributor Africori, in a move that could make Warner the top music distributor in Africa.<\/p>\n","protected":false},"author":5,"featured_media":2468,"comment_status":"open","ping_status":"open","sticky":true,"template":"","format":"standard","meta":{"content-type":"","inline_featured_image":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[5,4],"tags":[140,363,361,362],"series":[],"ppma_author":[533],"class_list":["post-2467","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-business","category-startup","tag-acquisition","tag-african-music-distribution","tag-africori","tag-warner-music-group"],"yoast_head":"\nWarner Music Group Buys African Music Distributor Africori - ANC Blog<\/title>\n<meta name=\"description\" content=\"Warner Music Group has bought a majority stake in African music distributor Africori, in a move that could make Warner 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