Global expansion is an economic necessity for African artists amid challenges of broadcast revenues

While the music of African artists reaches listeners around the world, revenue per stream in markets like Nigeria or South Africa does not always reflect audience size. For many of them, expanding globally is not a luxury or an option, but rather an economic necessity.

Annually, the Afro Nation Festival puts some of the biggest names in African music in front of audiences from around the world. For the artists who are selected, this platform gives them more than just exposure. It's an opportunity to experience their music, their performance, and their ability to turn listeners into fans.

Through his role at US-based music label Empire, Mobolaji Karim has helped several African artists on the label's roster make inroads beyond the continent.

Karim explained that music production companies invest in the artist in dollars, not in local currency, and then expect to recover the money. But the economic return from online streaming is not proportional to the investment.

Karim pointed out, “For example, one million broadcasts in Nigeria or South Africa, when calculating the financial return it achieves, is equivalent to perhaps 10,000 or 15,000 people listening in Sweden.”

For his part, Kevin Boakye, Co-Founder and CFO, Africa Creative Agency, believes that music still holds tremendous value, as “(online) streaming is one of the primary ways to achieve financial value, but there is also the opportunity to use an artist’s music in a film or television series, and take advantage of these different opportunities to increase its visibility and spread.”

He believes that "the real opportunity these days revolves around the fan, that is, the real fans who are ready to buy souvenir products, or buy a ticket to attend a show, or attend and participate in a live event."