The Afrobeats export now earns Nigeria about $600m a year in music revenue, as festivals, streaming and world tours turn a sound into a real industry.
NIGERIA · CULTURE
Key Facts
—The number: Nigeria’s music industry earned about 901 billion naira, roughly 600 million US dollars, in 2024.
—The trajectory: One industry report projects the sector could pass 1.5 trillion naira, about 1 billion dollars, by 2033.
—How the money is made: Live shows made up about 65.7% of 2024 revenue, with streaming royalties near 30.1%.
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