Browsing: Warner Music Group

By Eric Osiakwan

  • Africa’s cultural goods sector is estimated to employ about half a million people
  • The sector generates US$4.2 billion in revenues
  • Digital platforms are fueling the growth of performers, artists, musicians, and others by allowing them to reach global audiences

On January 12, 2022, Warner Music Group (WMG) announced their majority acquisition of Africori – the first major acquisition of the year in the entertainment industry[1].

Momentum has been building toward this as WMG first invested in Africori in April 2020 at the height of the pandemic[2], followed in December 2020, with Africori signing a global sub-publishing deal with Warner Chappell Music France[3].

In 2019, WMG signed a partnership deal with a leading Nigerian record label, Chocolate city[4] and a licensing deal with Boomplay[5] which raised US$20 million[6]. That same year, French media giant, Canal+ acquired Nigerian production …