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DMCE Launches Funding Platform for Musicians

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DMCE Orin Fund

By Adedapo Adesanya

Digital Music and Commerce Exchange Limited (DMCE) has partnered with chordCash for the unveiling of a funding platform called Orin Fund for musicians.

Orin Fund is an e-commerce marketplace holding various forms of financial products for artists across Africa.

Its first product which has the name of the fund itself is in partnership with chordCash, an American company that provides a patented technology to help artists get advances on their streaming royalties.

In three simple steps, any African artiste can acquire the funds they need for their project between 7-14 days. Within the next few months, Orin Fund is expanding its products to have other financial solutions to develop artists/labels in Africa without excluding labels/artists exit or raise funds from private investors both locally and internationally.

This innovation by DMCE aims to give artists control over their intellectual property while still providing the funds they need to stay afloat and succeed in the emerging market where funding is a huge challenge.

President of DMCE, Ms Oyinkansola Foza Fawehinmi said, “With the accelerated popularity of African music globally, it is important that we develop our structures locally to support the global expansion of our artists.

“In a continent of 1.4 billion+ people with 70 per cent of its demography under 30, intellectual property is the next gold mine of the continent with music as one of its forerunners, it is important to create a decentralized marketplace for access to funds at whatever career level for an African artiste.”

“I am excited to be working with several partners in creating unique financial solutions for each market. Chordcash has taken an early bet in the market and I am certain of its success,” she said.

Adding his input, the Chief Operating Officer of DMCE, Mr Olayinka Ezekiel said, “At DMCE, our mission is to place African creators at the centre of the entertainment value chain.

“Orin Fund is bolstered by a team with extensive finance, entertainment and media experience. Our new product approach leverages global best practice but is adapted to fit the African context and opportunity,” he added.

Mr Eric Palumbo, Head of Partner Activation & Growth Marketing at chordCash said his company “is honoured to become DMCE’s chosen partner to join their mission in empowering artists across Africa through Orin Fund. Independent African musicians will have access to funding that helps expand their global reach without having to sacrifice ownership of their music or control of their careers.

“Our data-driven funding model combined with DMCE’s expertise in intellectual property will make Orin Fund a powerful new resource available to artists looking to take the next steps in their career growth.”

Founded in 2018, DMCE is an African-focused company that is set to redefine the intellectual property valuation, collateralisation, and general monetisation of the African music space.

The firm is currently established in Ghana, Tanzania, and the USA with Nigeria as the headquarters. Through intellectual property valuation, protection, management, administration— and now funding, it gives every artist the means to thrive and own their craft.

Via Orinfund, DMCE extends this service to artists in all African countries with access to both local and international funding.

DMCE offers catalogue administration services to some of the biggest and most respected artists in Nigeria’s music industry some of which include; K1 De Ultimate, The Estate of Dagrin, Sola Allyson Obaniyi, and Premier Records, The Estate of Chief Sikiru Ayinde Barrister.

The company also see the business management of hyperlocal record labels, such as Remdel Optimum Communications which is affiliated with top gospel artists such as; Tope Alabi, Bola Are, Evangelist Bisi Alawiye, Evangelist Dunni Olanrewaju (aka Opelope Anointing) and Daniel Aregebesola.

DMCE’s new product, Orin Fund, will ensure that artists are covered on all grounds and made aware of their assets and bargaining power. Basically, creating a levelled playing ground for them.

Adedapo Adesanya is a journalist, polymath, and connoisseur of everything art. When he is not writing, he has his nose buried in one of the many books or articles he has bookmarked or simply listening to good music with a bottle of beer or wine. He supports the greatest club in the world, Manchester United F.C.

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Nigerian Music Stars in Hot Demand Worldwide—NCC

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Nigerian music stars

By Adedapo Adesanya

The Nigerian Communications Commission (NCC) has tasked content creators in the country to take advantage of the many advancements in the nation’s growing telecommunications industry, saying much can be achieved through music artists, who are hotcakes globally.

The Executive Vice Chairman/Chief Executive Officer (EVC/CEO) of NCC, Mr Umar Danbatta, stated this in Lagos over the weekend while speaking at the 10th Annual Brands and Marketing Conference of the Brand Journalists Association of Nigeria (BJAN) where the NCC was conferred with the Regulator of the Decade award.

Represented by the Executive Commissioner for Stakeholder Management, Mr Adeleke Adewolu, the EVC noted that the ongoing process, for which arrangements are in top gear, followed the successful auctioning of two bands of the 3.5GHz spectrum in December of 2021.

Mr Danbatta informed the participants at the conference that content creation and consumption had grown around the telecommunications infrastructure provided by technology, which Nigerian entertainers had leveraged to become global brands.

He said,  “Due to heavy leverage on digital platforms, the Nigerian entertainment industry has gone global. Nollywood is one of the biggest movie industries in the world. In fact, more movies are produced by Nollywood yearly in comparison to Hollywood.

“Nigerian music stars are in hot demand worldwide because of their popularity and brand recognition on social media. We should add that many of these global superstars emerging from Nigeria launched into stardom by leveraging caller tunes and other mobile content platforms to grow their brands and huge followers online.”

Mr Danbatta declared that, “Digital platforms are fostering different types of systemic change, creating new brands, eroding the value of some brands, whilst at the same time increasing the value of other brands. The innovation-transformation-disruption cycle has come to stay and will be exacerbated as technology continues to evolve.”

The EVC  assured that the NCC would continue to aggressively drive the rollout and seamless operation of infrastructure to drive new digital technologies to benefit all sectors of our economy.

“It is our hope that Nigerian brands will continue to leverage robust infrastructure to grow their value and ensure that our country derives maximum benefit from unfolding digital transformation efforts,” he said.

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Gospel Singer Sammie Okposo Slumps, Dies

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Sammie Okposo

By Modupe Gbadeyanka

Reports just filtering in indicate that a popular gospel artist in Nigeria, Sammie Okposo, has passed on.

Details of this unfortunate incident are still sketchy, but it was gathered that he passed away on Friday at the age of 51 after he slumped.

Recall that some months ago, Sammie Okposo was in the news over issues concerning his marriage.

The Wellu Wellu crooner later apologised to his fans and others for betraying their trust, promising to be a better person.

Three years ago, the Delta State-born music star had a close encounter with death after the propeller shaft of his car pulled off while on motion.

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More than a Music Streaming Service – Why You Should Allocate Media Spend To Spotify

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Spotify music streaming service

By Carla Harrison

If I were to pick up your phone right now, there’s a very good chance that I’d find Spotify among your apps. It is, after all, the world’s most popular music streaming service, with 433 million users (188 million of whom are paid subscribers) in 183 countries. Since its launch in 2008, it’s transformed the way the world listens to music and helps launch the careers of artists around the world.

And if you use Spotify, you’re probably also aware that it’s expanded from just music streaming into podcasting, with some 4 million podcast titles joining its library of 82 million songs. But did you know that it’s also a powerful advertising platform with a growing focus on the African continent?

Any brand that’s serious about expansion, particularly in high-growth markets such as Nigeria, simply cannot afford to ignore it.

The pros of radio, plus more  

In order to understand what makes Spotify such an appealing platform for advertisers, it’s worth first reminding ourselves of the strengths offered by traditional radio. In general, for example, radio ads are more cost-effective than other forms. You can also get away with increased frequency, meaning that your message is more likely to stick.

Spotify offers all the benefits of radio advertising plus more. With growing numbers of people listening to digital audio streaming every day, you’re guaranteed an active and engaged audience. At the same time, you’re also reaching them while they listen to what they love. And because Spotify’s targeting options are so advanced, your brand can reach specific people based on age, gender, music genre, and playlist. Unlike radio, Spotify guarantees 100% completed listens in its reporting. It can also provide metrics around which type of audience engaged with your ad and a companion banner which allows users to click through to a webpage.

The streaming service is an innovator in the advertising space too. Its 3D audio feature, for instance, allows brands to provide premium quality advertising through an immersive, dynamic, and sensory audio experience. As a result, listeners don’t just hear an ad; they feel it.

But Spotify offers more than just audio ads. It also allows brands to reinforce their messages with high-impact display and video ad formats. Spotify video ads are actually the best performing in the industry, as they had to be built for viewability. The ads are 100% viewable and 100% audible, and Spotify only charges for 100% completion.

Making an impact in Africa 

It’s also worth pointing out that Spotify is seeing significant levels of growth across Africa. While the streaming service has been available in South Africa since 2018, its real expansion into Africa only came in early 2021, when it launched in an additional 40 countries.

But just a year after launching in Nigeria, the number of artists streamed per user had grown by 60%, and Nigerian music fans had created 1.3 million user-generated playlists. Additionally, nearly 21 000 songs had been added to the platform, placing Nigeria as the country with the second most streams after Pakistan in the new markets, with Kenya third in the ranking.

That growth isn’t likely to slow down anytime soon, either. According to Statista, music streaming revenues in Nigeria are expected to show an annual growth rate of 12.61% between 2022 and 2027. It’s also worth noting that penetration in the overall streaming market currently sits at just 4.1%. With an additional 35 million Nigerians set to come online by 2026 (all of whom will be hungry for the consumer experiences that come with affordable and ubiquitous access), Spotify looks primed for significant growth.

That comes with obvious growth benefits for advertisers, especially when you factor in that 39.6% of music streaming users are in the medium-income group. As Nigeria’s economy continues to grow, that income group will become larger and more valuable.

Partnering with the experts 

Brands looking to utilise Spotify as a marketing platform don’t have to go in blind, either. By working with experts that have specialist teams, they can get the most out of their campaigns. The right partners will also offer advertisers price transparency, ensuring that they get advertising on the platform at the most affordable rates.

In doing so, they can ensure that they always reach the right audiences at the right time with the right message. Moreover, with Spotify, they’re reaching people during the moments they love. And that’s always incredibly valuable for any marketer. Small wonder then, that Spotify is seen as the most trusted ad platform among consumers. Factor in the brand safety it offers, and you have a winning combination.

A culmination of factors 

Ultimately then, Spotify represents the culmination of a number of factors that should be of interest to anyone with a media budget that needs to be spent. And as Africa, and Nigeria in particular, that combination of engaged, active audiences, the ability to target specific audiences, and innovative advertising products will only become more important.

Carla Harrison is the East African Sales Manager at Ad Dynamo by Aleph

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