Apple Music et al: Dominating music streaming in Africa
Music streaming. Source: Stears Business

David Ek, the co-founder of the world's biggest music streaming platform, made a prediction ten years ago.

At the time, he was just 27 years old, and his company, Spotify, which was worth $200 million was available in France, Spain, the UK, and four other European countries. He hadn't launched in the world's largest music streaming market (America) yet.

But Ek told a journalist that eventually Spotify would be worth "tens of billions" and only "four or five players" would be left in the global music streaming market.

It was a bold remark; few believed him, but he was right. Spotify is valued at nearly $30 billion today. His company, as well as Apple, Amazon, and YouTube, dominate digital distribution.

In Africa, it is available in just five countries: South Africa, Egypt, Tunisia, Algeria, and Morocco. Although there are talks that the music streaming giant would expand into other African

Don’t limit your understanding. Join the Premium community to continue reading.

Fisayo Okare

Fisayo Okare

Read Latest

How Nigeria can unbundle its rail lines efficiently

PREMIUM - 27 SEP 2021

Economies are gaining from carbon taxes, but not Nigeria

PREMIUM - 24 SEP 2021

Nigeria is experiencing a housing bubble and it's absurd

PREMIUM - 23 SEP 2021

Nigeria’s health infrastructure and its funding problem

PREMIUM - 22 SEP 2021