As Nigerian artists continue to rack up billions of streams globally, a critical question lingers: why does so little of that success translate into tangible economic value for the country? While superstars like Davido generate millions of dollars from international platforms, the bulk of the revenue exists outside Nigeria, leaving the nation to benefit mainly through indirect channels such as luxury imports and local spending by a few individuals.
In this exclusive interview with BusinessDay, Michael Odiong, CEO of Premier Records and Co-founder of the African Music Business Roundtable (AMBR) and Music Tech Nigeria, breaks down the structural gaps holding back the industry. He explores practical solutions for music catalogue valuation, blending financial data with cultural and vintage heritage, and reveals how the second edition of AMBR aims to change the narrative.
What are your thoughts on entering the second year of the African Music Business Roundtable (AMBR)?
The income generated from these initiatives will trickle down through various channels. Streaming platforms will pay taxes whether through withholding taxes or other mechanisms, and the government will receive its share, benefiting the broader ecosystem.
