The Nigerian music industry is currently witnessing an exponential growth due to advances in technology which has made music production, sales, distribution of audio and visual content quicker compared to the era of the legends before this generation. Afrobeats which their genre has been christened is dominating the airwaves not just from Lagos to Johannesburg but also getting airplay in the far flung Caribbean Islands of the Americas.
Compared to their peers in the United States of America who have leveraged their personalities to transform them into multimillion dollar and billion dollar brands like Beyonce, Rihanna, Dr Dre, Akon who is building a futuristic city in Senegal which is the first of its kind that will be powered by blockchain and his Lighting Africa is providing solar electricity solutions currently in 18 African countries, PDiddy and Jay-z, they are not taking huge advantage of their fan base to create money spinning products which will sustain them when they are no longer active. Their major sources of income is from brand endorsements, concerts and foreign tours as the structure for them to reap revenue from their intellectual property is faulty which has led to pirates taking advantage of the situation.
When Dapo ‘DBanj’ Oyebanjo was among the artistes dominating the airwaves as the KokoMaster, he ventured into entrepreneurship with his Koko Garri and Koko Mobile phone brand which both failed because they were ventures in which he couldn’t dominate as Koko Garri wouldn’t make his fans leave the open markets where they could get the commodity cheaper and as for Koko Mobile, his supply chain structure was not strong. He could have been the one dominating the African mobile devices market instead of Transsion Holdings which came and displaced Nokia and Samsung.
Considering the success and popularity of Tuface Idibia’s classic single ‘’African Queen’’ which laid the foundation for his multimillion career as an African pop star and legend, one would have expected Tuface to establish a clothing line called African Queen which will offer urban chic trendy wear focused on the African woman on the continent and in the Diaspora. There are over 50 million Afro Europeans and Americans who are interested in things which will help them connect with the Motherland and an African Queen line with cosmetics too made from the best African indigenous fragrances that will make African women’s skin and bodies glow and smell nice while also creating a video game of African Queens who attained fame as legends available for downloads on all Android and IOS devices, PC’s and even gaming platforms from leading telecommunication services providers will earn him far more income streams in hundreds of millions of dollars than his entertainment outfit.
Davido as the current artiste with the most fan base on the African continent should establish a partnership with a leading African alcoholic beverage company that has roots all over the continent to create a special liquor brand which will be brewed from indigenous African herbs and other flavours to promote his identity and earn him massive income. Also considering that Skelewu was a massive hit, Davido should create a game based on his rise to the top and as well as invest in technology startups across the globe especially those doing stuff with blockchain especially for the creative arts industry to tackle issues relating to piracy. A Davido Theme Park somewhere in Lagos or at Ede in his hometown where his fans can visit to watch him perform via holographic technology with robotic attractions that have audio visual productions, virtual and augmented reality solutions, performing arts centre, museum, hotel and shopping facilities. By the time he is done with his done with his career he would be earning massive returns from these investments.
Olamide should find ways to export his music to Brazil which has over 80 million blacks with majority of them from Yoruba descent and also create products which will appeal to them.
Finally, the Ojuelegba hit crooner, Wizkid should turn his home in Surulere where he rose from humble beginnings to become a pop superstar into a tourist attraction which will attract his millions of fans from across Africa and the rest of the world that will spend money when they come visiting annually. Bob Marley’s estate earns millions of dollars from tourists who come to Jamaica annually to pay respect to the late Reggae legend. A motivational game targeted at making young children and adults grow to become successful in their careers across the world should be developed by Wizkid and his team and made available for downloads across all platforms will lay the foundation for increased wealth. Wizkid should also enter a partnership with Transsion Holdings to create a line of smart communication devices aimed at enhancing one’s creativity.
Nigerian music artistes deserve to reap the rewards of the effort which they put into making their fans happy.