Top 10 African countries making big money from music

South Africa has emerged as the leading African country in recorded music revenue, earning about $33 million, according to figures from the International Federation of the Phonographic Industry (IFPI).

The figures, contained in the IFPI Global Music Report 2024, highlight the growing contribution of music streaming and digital platforms to Africa’s music industry.

Egypt ranked second with $30 million, while Nigeria followed in third place with $27 million. The three countries recorded significantly higher revenues than many of their counterparts on the continent.

The report also showed that streaming is becoming an increasingly important source of music revenue. Globally, streaming accounted for 67.3% of recorded music revenue, while it contributed 24.5% in Sub-Saharan Africa.

Sub-Saharan Africa also recorded the fastest growth in streaming revenue globally, increasing by 34.7% in 2023.

The growth has been supported by increased internet access, smartphone use and the growing popularity of platforms such as Spotify.

Spotify data further showed strong growth in earnings among Nigerian musicians. Their streaming revenue increased by 2,500% over seven years to reach about ₦25 billion, equivalent to $28.65 million as of December 2023.

South African artists also earned about 256 million rands, or approximately $14.01 million, from Spotify.

Despite the strong growth, differences in income levels and access to digital services continue to affect the music industry across Africa. Countries with higher levels of disposable income are generally better positioned to generate revenue from paid streaming services.

With streaming expected to continue driving the industry, experts say African countries need to improve digital infrastructure, expand internet access and create more opportunities for local artists to benefit from the continent’s growing music market.

By: Paulina Armah/ Radio1.