Digital concert is the new source of revenue for many Nigerian artistes, no thanks to the Coronavirus pandemic. The artistes, whose earnings have declined significantly since the virus outbreak in March, are now seriously exploring the capabilities of YouTube and Instagram as a means of earning gig fees during the lockdown.
A series of gig cancellations: In late Q1, the music industry was not spared by the COVID-19 onslaught, as many Nigerian artistes were forced to cancel their local and international shows. An A-list artiste like 2face Idibia had to postpone his Cameroon concert. Davido also postponed his “A Good Time” tour in North America, even as Asa postponed her London and Lagos concerts.
There were other artistes like WizKid, Burnaboy, Seun Kuti and many gospel singers who lost their March and Easter bookings.
Elsewhere, international events like Coachella and Glastonbury shows —where Nigerian performers like Seun Kuti and Burna Boy were billed to earn performance fees —were also cancelled.
Loss of revenue: Tickets to these concerts in Nigeria usually start at a fee of N2000 to as high as N1 million, depending on the kind of seat/ticket bought. It could be a Diamond table, VVIP, VIP, or regular table. Meanwhile, Nigerian A-list entertainers charge at least five figures in dollars for international shows.
Negative impacts expected: The cancellation of these shows will have an impact on their projected earnings in H1 2020. Davido, in one of his Twitter Q&As after cancelling his tour, told a fan who requested for money that there is “no money for now … no show in sight abeg … we all Dey here together.”
— Davido (@davido) April 2, 2020
Another popular singer, Seyi Shay, also tweeted about the impact of the lockdown, saying:
“I don’t even wanna talk about how much money I’ve lost cos of this global lockdown! Shows, endorsements, deals!!!! I pray The Almighty restores EVERYTHING that my fellow artistes and YOU have lost ! #weshallovercome.
“Noone wants to talk about it, but me i go talk am ooo! This is real inside life. This sucks!! Plenty work and gigs locally and internationally CANCELLED! God when #weshallovercome ko ni da fun coronavirus (it will not be good for Coronavirus)!”
I don't even wanna talk about how much money ive lost cos of this global lockdown 😡😡😡! Shows, endorsements, deals!!!!
I pray The Almighty restores EVERYTHING that my fellow artistes and YOU have lost ! 💛🙏 #weshallovercom e
— Seyi Shay INTERNATIONAL BAD GYAL (@iamseyishay) April 13, 2020
Artistes depend on digital shows to survive: By the time a cure for Coronavirus is discovered, the way we live would have been impacted dramatically. In the meantime, changes are already being experienced in the music industry.
2face Idibia, Asa and many Nigerian musicians have begun to go with the tide, initiating work-from-home events as well. While private sectors are using video conferencing apps like Skype and Zoom to communicate with their workers, these artistes are using YouTube and Instagram to organise shows. In march, the likes of Seyi Shay, Reekado Banks, Timi Dakolo, Simi and many other artistes took part in a YouTube Live show.
While most Nigerian artistes have been doing digital shows from their homes, 2face Idibia switched it up a notch on April 12, 2020, by performing on a concert-designed stage on Instagram Live. For this reason, it was called the first E-concert. The show was organised by Trophy Extra Stout. Similarly, Asa and Davido held a show organised by music streaming platform, UduX Livestream, on April 13, 2020.
While the gig fees for these digital shows are not disclosed, these artistes usually charge between six figures to N1 million and above for performance pre-COVID-19 in Nigeria. And with private organisations sponsoring this digital shows, they are still expected to earn six figures and above.
The use of YouTube and Instagram Live to organise shows have shown just how vital tech has been within the COVID-19 era and the lockdown period. Even Mark Zuckerberg’s Facebook has been giving its Facebook Live much exposure recently, reminding the public that its platform can be used to organise shows as well.
So while these entertainers cannot earn as much as they projected from local and international shows, tech giants like YouTube, Instagram and Facebook have built platforms that ensure they don’t lose out completely. This therefore proves that as technology advances, so will the capabilities of humans.
The problem with Digital gigs: While these online shows are the perfect replacement for cancelled gigs in the meantime, it might be hard to sustain in the long run as data price is still on the high side in Nigeria. That’s why a musician like 2face Idibia, who has over 5 million followers on Instagram, could only attract a paltry 2000 viewers during his Instagram Live concert.
Although the Minister of State for Labour and Employment, Festus Keyamo, had urged network providers to offer their subscribers free data, MTN Nigeria and Airtel have ignored him. The network providers have chosen to offer their subscribers free SMS instead.
FG explains how the Covid-19 vaccines work and their composition
The NPHCDA Director said that Covid-19 vaccine candidates are of various categories based on their mechanism of action.
The Federal Government through the National Primary Health Care Development Agency (NPHCDA) has explained the composition of the Covid-19 vaccines and how they work.
This is as some of them have been approved for emergency use by the World Health Organization (WHO) and some countries, while others are still at different phases of clinical trials for possible approval.
According to a report from the News Agency of Nigeria (NAN), this insight was given by the Executive Director/Chief Executive of NPHCDA, Dr Faisal Shuaib, who said there were several COVID-19 vaccine candidates.
He said that Covid-19 vaccine candidates are of various categories based on their mechanism of action such as the inactivated or weakened virus vaccines.
He explained that the idea behind the formulation of an inactivated or weakened virus vaccine is to elicit an immune response without causing the disease itself. Shuaib also said there were protein-based vaccines, which used harmless fragments of proteins or protein shells that mimic the Covid-19 virus to safely generate an immune response.
He added that the viral vector vaccines used a virus that had been genetically engineered to produce coronavirus proteins to safely generate an immune response and not give rise to the disease.
Going further, Shuaib pointed out that the Ribonucleic Acid (RNA) and Deoxyribonucleic Acid (DNA) vaccines employed a cutting-edge approach that used genetically engineered RNA or DNA to generate a protein that safely prompted an immune response.
What you should know
- It can be recalled that on March 2, 2021, Nigeria received the first set of about 4 million doses of the AstraZeneca Covid-19 vaccine, manufactured by the Serum Institute in India and shipped via the COVAX Facility, a partnership between CEPI, Gavi, UNICEF and WHO.
- A few days ago, the Executive Director of NPHCDA disclosed that a total of 8,491 Nigerians have reacted adversely to the AstraZeneca inoculation since the exercise began on March 15.
- He said that Nigeria recorded 52 cases of moderate to severe incidents of Adverse Effects Following Immunisation (AEFI), presented as fever, vomiting, diarrhoea headaches, dizziness and allergic reactions.
- About 1.09 million Nigerians have so far been administered the first dose of the AstraZeneca Covid-19 vaccine.
Elon Musk loses an estimated $6bn after a Tesla car accident killed two people
Elon Musk’s net worth dipped by $6 billion following a tragic Tesla car accident that killed two people.
The second richest man in the world, Elon Musk, witnessed his wealth shed an estimated $6bn after a Tesla car was involved in an accident that led to the death of two people.
Tesla stocks dropped by 3.8% after the news of the crash went mainstream. The resultant effect on Elon Musk’s wealth was a $5.71bn loss in a single day.
Two men lost their lives on Saturday night in Houston when their 2019 Tesla model car slammed into a tree. Police authorities on sight claimed the car might have been on autopilot due to the sitting position of the corpses.
They also struggled to put out the fire from the Tesla car and even called Tesla for help. The death of the two men has sparked a heated argument between Tesla and its critics. Autopilot or not?
Although police officers’ assertion that the car may have been on autopilot remains unconfirmed, it has raised serious uncertainty about the safety of Tesla’s autopilot feature and Tesla’s critics are not backing down on this.
Elon Musk reacts
Elon Musk has reacted to the news, insisting that the autopilot feature in the crashed vehicle was not enabled. According to him, the Wall Street Journal’s coverage of the accident was not professional.
What you should know
Elon Musk is now worth $183bn following the recent drop. He closed the gap on Amazon’s Jeff Bezos to $4bn early last week. The gap has widened to $14bn today.
Nairametrics | Company Earnings
Access our Live Feed portal for the latest company earnings as they drop.
- 2020 FY Results: Unity Bank Plc posts profit after tax of N2.09 billion.
- Guinea Insurance Plc reports a loss of N142.13 million in 9M 2020.
- Unilever Nigeria Plc set to hold Annual General Meeting on 6th of May.
- UBA Plc posts profit after tax of N38.16 billion in Q1 2021.
- PZ Cussons Nigeria Plc appoints Ifueko Okauru as Independent Non-Executive Director.