Sony Music partners telcos, eyes music streaming in Nigeria

A landmark agreement has just been reached by Sony Music Entertainment after it reached a partnership with Nigerian telecoms companies MTN, Airtel and Etisalat in the area of music streaming.

Reports say Sony Music pushed for the partnership after noting the big growth prospects of music streaming in Nigeria, especially with falling internet data costs and a large, growing population.

According to Michael Ugwu, general manager Sony Music for West Africa, the company can generate more revenue through ringback tones.

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Ugwu said with the improvement of internet connectivity, streaming subscriptions were a TOP growth area. “That’s where the business focus is,” he added, without giving any figures.

He informed that there were around 3.5 million subscribers to MTN Music Plus, with users paying from as little as 50 naira ($0.16) to 800 naira a month to stream music.

“MTN has about (a) 60 million subscriber base, which shows that penetration is still at the early stages,” said Ugwu.

 

 

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