The Nigerian Music Industry has transformed over the years, evidence is the quality of videos that are now key components of such transformation.
In the 90s not too many people could lay claim to listening to Nigerian Rnb or hip hop songs, not to talk of sitting down to watch a 3 minute video laced with bare bone productions.
It is a well-known fact that Music videos are now as important as the songs in reaching new markets and sustaining the tempo of air play. With the increase in smartphone usage and cheaper internet data, the ability to view videos online (Youtube) and download the latest videos from sites like Tooxclusive.com and Notjustok.com has never been easier.
Why Are Music Videos Important to Artistes?
There are 2 major ways through which music videos help artists:
Typically music videos are produced and released in the early stage of a songs’ release cycle, intended to drive exposure through additional channels for fans to consume, whether they are shown on TV, or streamed in a public area.
When brands enter the picture and strategically place products in music videos, it can produce a new revenue stream for the artiste while also building exposure for the brand. (Nielsen.com)
What Does A Standard Music Video Production Budget Cover?
A standard Nigerian video can cost between N2 million and N10 million depending on the production budget of the artiste.
A standard and top quality video production budget covers the following but not limited to the following:
- Concept development
- On-camera talent
- Location fees
- Production equipment
- Production crew
- Visual effects
- Color correction
- Video encoding
- Digital delivery
So What Changed the Nigeria Music Video Scene?
With the breakthrough in Nigerian music crossing borders and foreigners beginning to appreciate our music better, the Nigerian artistes caught the buzz and improved the quality of videos. However this wasn’t done without some notable names.
Enter Clarence Peters who took over the market around 2005/06. He changed the face of the Nigerian videos. What Clarence Peters had that others before him like DJ Tee didn’t have was a good Camera, in fact he was a very good Camera handler which was his unique selling point.
Most Nigerian videos made use of the Mac3 or Mac2 years back, but Peters was the first to use the D7 camera. With time other producers followed suit and consequently the quality of videos improved.
Reasons Why Nigeria Videos Cost Much
Concept: Some Directors have their own in-house creative services department with a team of writers, directors and designers who help develop creative options for the artistes to choose from. This will definitely cost money.
For example DJ Tee directed the ‘Eniduro’ which shot Olamide to limelight. In the video Olamide wore 25 different outfits and in addition the video was in black and white.
Technology: Nigerian videos are now advanced and producers have moved from using Coma shoots/ Greenhouse effect where the video is shot in one house or location. With the aid of Cameras like D7 used by producers to shoot videos, this has driven up the cost of videos shootings. This is because some of these cameras are quite expensive and require efficient maintenance.
Logistics, Wardrobe, and Props: These items determine the look of the video, and their importance cannot be overstated in terms of the final product.
Good locations can be expensive, and sometimes even requires existing relationships. Even free locations end up costing money. It is easily noticeable that lots of Nigerian artists travel to places like South Africa, Dubai, America to shoot videos and the locations used in these places require lots of money.
Ash Hamman a UAE-based Nigerian-born artist is reported to have shot the most expensive video in the Emirates. The video gulped a whooping DH850, 000. The money was spent to rent flashy cars, luxurious yachts and beautiful girls.
He said “I want to make a statement. Let me do what everybody is doing, but do it on a larger scale. I said ok, people want to use one Lamborghini? I want five (5) Lamborghinis. People want to use five (5) choppers? I want seven (7) choppers. People want one (1) girl? I got seven (7) girls.”
For his video, he ended up using 13 exotic cars, 3 yachts and 40 female models.
The Cast and Crew: A great music video requires lots of talented people. A shoot generally involves at least 7-10 production professionals. These people work on day rates and sometimes bring their creativity and scripts on how they want the video to look like.
For example when Clarence peters shot the video for ‘Ghostmode’ Olamide ft Phyno. An eye-witness who was at the making of the video confirmed that about 10 tankers of water and flowers were used during the shoot.
Availability of resources: Much more money is flowing in the music industry with artists selling millions of albums, million dollar sponsorship deals from the top companies in the land. Lots of these money is spent on music videos to keep pleasing the fans and maintaining the make-believe lifestyle these artists live.
Olu Maintains’ ‘Enuf Effizi’ has been claimed to be the most expensive music video. Olu Maintain has been a big player in the game for a long time and has the resources to spend so much. In the video he used a Private Jet, Ferrari, Lamborghini, and expensive PROFESSIONAL models.
P square has one of the highest selling albums in the country and also generate the highest revenue from shows for any African artist or group. They have featured American Rapper Rick Ross in their video shot in the US on a yacht. We all know how much it is to feature a foreign “A” list artist, then to also get him to appear on the video also. This would cost as much as $30,000 in cash.
Experience and Connection of Producer/Director: Only a handful of people know that Clarence Peters worked on the set of TV Programme Everyday People as Assistant Director, then he went to South Africa, came back and had a deal with TV Station Soundcity. The deal was that for every of the video he directs, he has a playing slot on the station. This also helps drive his price because Nigerian Artists know that once he directs their videos the chances of their videos being aired is higher.
Sesan, another famous Producer who shoots all of Mavin records videos has his style. He doesn’t shoot low budget videos and wouldn’t want to work with the Artists budget, even if the artist has over 1 million Naira.
Conclusively, a major factor attributed to the expensive nature of producing videos here in Nigeria or anywhere is the excuse artistes give concerning the exchange rate between the naira and the dollar. They argue that if the Federal Government gives the same or better treatment as the one given to pilgrims as it affects the exchange rate, their bills will be minimal in producing music videos.
Shoprite to leave Nigeria
South African retailer, Shoprite International Limited says it will consider the potential sale of the majority stake of its Nigerian holdings, Retail Supermarkets Nigeria Limited.
This was disclosed in the company’s operational and voluntary trading update that was published this morning.
more details later
Gold prices soars following resurging COVID-19 caseloads
Gold futures gained 0.46% to trade at $1983 at about 6.41 am GMT.
Gold started the first trading week on a bullish note at London’s trading session. This is coming on the heels of growing concerns about the ravaging Coronavirus pandemic, triggering gold traders to increase their bullish bet.
Gold futures gained 0.46% to trade at $1983 at about 6.41 am GMT
Spot bullion surged 11% in July, the biggest monthly gain since 2012, as investors weighed a weaker dollar and record low U.S. real yields.
Why the sudden rush for gold?
The current global health crisis has prompted unprecedented amounts of stimulus being unleashed by the central banks in most emerged markets. There have also been other dovish monetary policies, including lower rates. All of these have combined to boost gold bulls in solidifying their bullish position on the short term.
In addition, Stephen Innes, the Chief Global Market Strategist at AxiCorp in a note to Nairametrics buttressed the macros supporting the yellow metal’s bullish run he said
“Investors will continue to have a favorable view of gold partly on ongoing Covid-19 concerns.
“While gold demand shows few signs of retracing, the yellow metal could face fierce short-term resistance at $2000 given the growing view we could be at the end of the runway for the US yields to fall further. And the US Treasury is running out of the exorbitant privilege of the stronger dollar and safe haven flow.”
Gold has moved through its all-time highs as the story continues to be the Federal Reserve’s money-printing coupled with the potential USD1 trillion fiscal stimulus packages for pandemic relief. Real rates continue to trend lower, and the dollar continues to weaken. Therefore, the environment should remain supportive of gold.
Data war: MTN takes over, gains 1.7 million subscribers, as Glo outshines Airtel in June
MTN gained 1.74 million data subscribers in June against the 882,458 it recorded in May 2020.
Although competition in the Nigerian telecommunication space has always been stiff, latest data seen by Nairametrics indicated that the competition is getting stiffer.
Telecommunications operators, especially in the data section, are giving each other a hot chase. Gone are the days when the biggest telecommunication firm automatically retains the top position. Recently, companies that were once described as fringe players are catching up really fast in terms of attracting new subscribers every month.
For instance, in May 2020, Glo took other operators by surprise, dwarfing them to lead the chart as the telco with the highest number of subscribers in a month when it gained 8.302 million data subscribers. The indigenous telco grew from 28.934 million in December 2019 to 37.236 million by the end of May 2020, while MTN gained 4.75 million data subscribers. Airtel, which used to be the second-highest in subscriber growth after MTN, recorded 2.795 million. Unfortunately, 9mobile lost 812,827 subscribers within the same period.
MTN regains top position
According to data released by the Nigerian Communication Commission for the period ending June 2020, Nigeria’s largest mobile telecommunication company, MTN, gained 1.74 million data subscribers against the 882,458 it recorded in May 2020.
Also, at the end of June 2020, the total number of data subscribers on MTN data network rose to 60.60 million from the 58.86 million it recorded in May. This means the telco added 1.74 million data subscribers.
Glo attracted more subscribers, outshining Airtel (subscribers base) for the first time in years
Despite a challenging year for Globacom in terms of its data subscriber base, the telco took industry watchers by surprise, as its subscriber base chased, met and overtook Airtel’s In June 2020.
For the first time in years, the once second largest telco (subscribers base) lost its position to the indigenous company as the latter increased its base from 34.24 million in May to 37.97 by the end of June 2020. The Indian-owned telco only managed to increase its base from 37.32 million to 37.57 million within the same period.
On the other hand, 9mobile ended the month without attracting any data subscriber. According to the NCC data, 9mobile continues its steady decline, as a total of 16,000 subscribers dumped the network for others when it fell from 7.26 million subscribers to 7.10 million within the same period.
In terms of market share, Glo is now trailing behind MTN, as the latter expanded its overall market share in June.
At the end of June 2020, MTN’s total data market share rose further to 60.60 million subscribers. On the other hand, Glo had 37.97 million, followed by Airtel’s 37.57 million and 9mobile’s 7.10 million.
Internet remains slow in Nigeria despite the advent of 4G network
The advent of 4G/LTE in the global telecom industry was accompanied by the expectation of fast internet speed. The 4G is the fourth generation of wireless mobile telecommunications technology, succeeding 3G. Potential and current applications include amended mobile web access, IP telephony, gaming services, high-definition mobile TV, video conferencing, and 3D television.
While GSM companies continue to jostle for market share, it has often come at the expense of poor service and lack of accountability. Quite frankly, as an average internet user in Nigeria, one is usually left at the mercy of poor mobile internet services which frustrate one to seek limited alternatives.
Nigeria’s internet download speed remains among the slowest in the world, and while the telcos continue to rake in heavy gains from data sales, consumers continue to groan for lack of fast and affordable internet services.