Muyiwa Awoniyi, manager to Grammy-winning artiste Tems, has shed light on the contrast between streaming revenue generated in Nigeria and other parts of the world.
During a recent appearance on the Afrobeats Intelligence podcast, Awoniyi attributed the low earnings from Nigerian streams to the country’s affordable subscription rates and struggling economy.
He revealed that while one million streams in Nigeria generate approximately $300, the same number of streams in Sweden, Spotify’s home country, fetch between $8,000 and $10,000.
Do you know how much a million streams is worth out of Nigeria? It’s $300. I am telling you facts, it is N900 to subscribe to Spotify and Spotify treats things territorially, he said.
A lot of people do not know this, by the way. So for me, I always knew that if my IP is anchored to a region where one million streams is $300, I am cooked. I knew this from Nonso’s time because, like I said, the trickle-down effect of the economy is going to hit the citizens regardless.
I mean, your purchasing power is going to be limited. Do you know the highest territory for streaming Spotify? Sweden is where Spotify is from. Your one million streams is between 8-10 grand.
Burna Boy had earlier advised his colleagues against relying solely on revenue from Nigerian streams.
He argued that achieving number one on any streaming platform in Nigeria is not a significant accomplishment.
Muyiwa is a well-known music executive and the founder of BSB Management Agency. He has managed talents such as Tems, Omah Lay, and Nonso Amadi.
