Universal Music eyes Nigerian market

Vivendi’s Universal Music Group (UMG) is set to launch a new division in Nigeria.

Reports say plans are underway for Universal Music Nigeria, to operate from Nigeria’s commercial capital Lagos with the opening of its new division.

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According to Sipho Dlamini, Managing Director of Universal Music South Africa and Sub-Saharan Africa, when fully operational, the Nigeria division will focus on developing artists and musicians from West Africa countries, particularly Nigeria, Ghana and Gambia.

“Our Nigeria team will support, nurture, and help develop artists, while creating opportunities for new talent from the region to reach the widest possible audience,” said Dlamini.

With music revenue in Nigeria (mostly derived from sales of mobile phone ring tones) growing by 9 percent in 2016, year-on-year, to reach $39 million and expected to rise to $73 million by 2021, the move by Universal Music to open shop in Nigeria is not far fetched.

 

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