Amplifihub, a Nigeria-based beat marketplace co-founded by Sarz, one of Nigeria’s top music producers for top artists like Wizkid and Tiwa Savage, has announced a partnership with US beat marketplace Airbit.
This partnership was born out of the need to help African music producers to earn money through their profession locally and globally.
According to Statistica, revenues from streaming services increased nearly 20% in 2019 to reach $ 8.8 billion, accounting for 79.5% of all recorded music revenues. In Africa, music streaming in Africa is expected to reach $ 493 million by 2025; The Nigerian music streaming industry alone is currently valued at $ 40 million and is expected to grow 10% by 2023.
The above data shows a huge gap between the income of African music creators compared to their global counterparts, but it shows growth nonetheless. For example, Burna Boy made almost $ 3 million from streaming in 2020, a number that no African actor has streamed before.
But how much of all this revenue growth is going to music producers? We don’t know for sure, but it appears to be not evenly distributed. This is the problem Amplifihub wants to solve with its beat market where producers can enlist beats for sale and anyone can buy them. Think Jumia but for the beats.
The partnership will give Amplifihub users access to Airbit’s sophisticated music monetization tools and pioneering technologies. These tools will help users unlock vital revenue streams from platforms like YouTube and Spotify across the region.
“We look forward to a lasting partnership between Amplifihub and Airbit. Amplifihub COO Ezekiel Olayinka, excited about the partnership and the many opportunities that come with it, said.
“Our mission is to create pathways to sustainable careers for some of the most talented audio creators on the planet, the producers of the world. This collaboration with Amplifihub allows us to extend our mission to a new region and to new communities of creators. said Judah Wierdre, COO at Airbit.
For both companies, the collaboration could be mutually beneficial as it will fuel the core of Amplifihub’s value proposition and drive Airbit into the African market, which is home to many under-represented talent.
“The future of music is being created in markets that have been neglected for too long. We’re excited to help connect more producers to the global royalty system and help them get the compensation they deserve, ”said Airbit Founder and CEO Wasim Khamlichi.
Before becoming a super producer, Osabuohien Osaretin, better known by his stage name Sarz, had lived for years without earning anything from his profession. This led him to create incentives like The Sarz Academy help African creators and producers to become self-reliant through creative and legal training.
The partnership could prove to be a successful step in his journey to elevate African producers to a more financially stable level in their careers.