The Multi-Billion Dollar Africa’s Music Business

A recent study of the entertainment sector by PricewaterhouseCoopers (PwC) accountants showed rapid earnings growth in many African countries, fueled largely by live performances by local artists.

In Nigeria, Africa’s most populous nation, revenue from the music industry grew an estimated four-fold in the two years up to 2015, according to PwC. The growth streak is forecast to continue.

Kenya is also forecast for a strong growth, at about 9.3 percent a year between now and 2020.

And African musicians are not only appealing to domestic consumers, but also generating more interest abroad through tours and collaborations with big international names.

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