Afrobeats, a genre deeply rooted in Nigerian culture and inspired by decades of African rhythm, has now become a global sensation.
Artists like Wizkid, Davido, Burna Boy and Rema pictured have captured the attention of the world, headlining international festivals, amassing billions of streams and solidifying Afrobeats as a staple in the global music industry. Wizkids video for his song Piece of My Heart ft. Brent Faiyaz has amassed 5.2 million views in just three weeks since it was released.
Streaming, album sales, touring, merchandise, licensing and partnerships with brands all offer huge economic opportunities for successful Afrobeats artists. Global streaming services like Spotify and Apple Music have been crucial in the heavy promotion and widespread distribution of Afrobeats while major labels like Universal and Sony have divisions solely dedicated to African music. North American megastars Drake, Justin Bieber and Beyonc have all collaborated with Nigerian artists, bringing the genre to massive new global audiences.
Yet despite the financial success and cultural influence of Afrobeats abroad, the mood in the Nigerian music industry is less upbeat than it might be. In 2023, Afrobeats generated an estimated 100m, but only a fraction of that income is thought to have found its way back to Nigeria, according to Mag Rodriguez, founder of Even, a platform enabling artists to sell their music directly to fans.
This disparity poses a difficult question who really is benefiting from the success of Afrobeats , and what more can the Nigerian industry do to capture that value at home?
