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Entertainment

Mr. Eazi plans to sell shares of his streamed music

Nigerian musician, Mr. Eazi has urged fans to own equity shares of his music and stream to earn money.

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Nigerian Afrobeats star, Oluwatosin Ajibade, popularly known as Mr Eazi, announced an experimental plan for his music fans and investors to buy shares in his songs.

Mr. Eazi disclosed this in a social media statement on Wednesday. He added that investors will own equity in his songs and earn income on streaming revenue.

He disclosed that he has been in the list of top 5 most streamed African artist since 2016 and tweeted:

Gonna try an experiment on my next release where you guys the fans will be able to buy shares on My song! Meaning you will own an equity % on the song! As u stream & give me $, some goes back to You! I have consistently since 2016 been Top 5 most streamed African Artists & that’s 100% due to my fans!! I love you guys!! And it’s time to get you in on the equity side.

“Imagine you had a % of my last song with Nicki or my new single “LENTO” with Jbalvin!!! As u stream u make it a hit, some of the $ comes to you! But, most importantly you are a true part of the Global Smash Hit you helped create.

Why this matters: If Mr. Eazi is successful with his equity sharing plan, it will give Nigerian investors an indirect means to invest and earn in foreign exchange in Nigerian Entertainment, and reducing barriers to entry for Nigerian music investments.

What you should know 

  • Nairametrics reported in July that Mr Eazi raised $20 million for his Africa Music Fund (AMF) to invest in the careers of African music talents.
  • He explained that his intention was to create a new platform to fund the music entertainment ecosystem in Africa, adding that the entertainment ecosystem is not understood by instuitional investors in Africa and leads to limits in funding the industry.

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Entertainment

Michelle Obama to launch TV cooking show for kids on Netflix

Former US First Lady, Michele Obama is set to unveil a new TV show for kids.

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Michelle Obama, the former First Lady of the United States has launched a new children’s show that will be showing on Netflix from March 16.

The show is based on the adventures of two puppets, Waffles and Mochi, who have a dream to learn to cook fresh food with the help of Mrs Obama and a magical flying shopping cart.

READ: Netflix gains 17% after beating investors expectation

Speaking about the new show, Mrs Obama said “ It’s all about good food: discovering it, cooking it, and of course, eating it. These two will take us on adventures all around the world to explore new ingredients and try out new recipes. Kids will love it, but I know that adults will also get plenty of laughs—and some tips for the kitchen.”

She also mentioned her excitement to work with “Partnership for a Healthier America” to get fresh ingredients to families in needs across the country so they can cook together at home.”

READ: Netflix appoints Econet founder, Strive Masiyiwa to its Board of Directors

What you should know

  • The show is produced by Higher Ground Productions, the production company owned by Michelle and her husband, President Barack Obama.
  • Higher Ground was launched in 2019 in partnership with Netflix. The company promised to “harness the power of storytelling” and touch on “issues of race and class, democracy and civil rights, and much more.”

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Entertainment

Universal Music Group to expand operations in Nigeria

Universal Music Group has announced an African expansion to include Nigeria and a few other countries in the continent.

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Global Music publishing giant, Universal Music Group, has announced plans to expand operations in Africa in countries such as Nigeria, Ghana and Kenya in 2021.

This was disclosed by the group’s regional CEO, Sipho Dlamini, in a Bloomberg report on Monday. The CEO also revealed that Universal Music had opened an office in Ivory Coast to tap into the francophone music scene.

“We are thinking long term and looking to build lasting infrastructure in order to support African talent for years to come,” Dlamini said. “We want to expand the possibilities for that talent to reach new audiences around the world.”

Universal Music plans to take advantage of the large music and tech adoption by younger Africans in a bid to secure streaming revenue. The CEO also revealed that Universal, just like its rival Sony, plans to sign more African musicians and also build more recording infrastructure for the continent for a wider reach.

Bloomberg disclosed that the recorded music revenues in Africa and the Middle East had totalled $100 million in 2019.

“There has never been a more exciting time for African music around the world, as it continues to influence and inspire culture and creativity, while reaching a wider audience globally each day through streaming,” Dlamini said.

The CEO added that Universal Music was also working with major African Telco operators including g MTN Group Ltd, Vodacom Group Ltd, and Orange SA in a bid to boost its operations in the continent.

What you should know 

  • The plan to expand operations does not come as a surprise, as Nigerian musicians recorded success in 2020 due to streaming.
  • Nairametrics reported last month that David Adedeji Adeleke, better known as Davido, revealed that his third studio album had surpassed 213.2 million streams across all platforms in a month.
  • Nigerian Afrobeats star, Oluwatosin Ajibade, popularly known as Mr Eaziannounced an experimental plan for his music fans and investors to buy shares in his songs.
  • Nairametrics reported in July that Mr Eazi raised $20 million for his Africa Music Fund (AMF) to invest in the careers of African music talents.

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