The music streaming industry in Africa has seen remarkable growth, with the recorded music market in 2023 surging by 24.7 percent.
This growth has mainly been driven by the increasing popularity of streaming services. South Africa leads the regional revenues, accounting for 77 percent of the market with a growth rate of 19.9 percent.
Nigeria has also made a mark on the global music scene, generating approximately $39 billion and gaining international recognition.
Platforms like Audiomack and Boomplay have played a significant role in promoting Nigerian talent. However, Ghana’s music industry, despite its rich culture and emerging talent, faces challenges.
Ghanaian artists often struggle to earn a fair share of their revenue from global streaming services due to the lack of a dedicated local platform.
The recent announcement by Ghana’s Vice President, Dr. Mahamudu Bawumia, about the launch of a Ghanaian-owned streaming platform offers hope for the industry.
The platform aims to provide a robust catalog of local music and ensure fair royalties for artists. While the initiative is commendable, it may face hurdles in monetization and user attraction in a competitive market.
Launching a streaming platform in Ghana comes with challenges, including limited music catalogs, user engagement, and competition from established services.
To thrive, the platform must offer offline and online modes, discounted data costs, and robust digital rights management. It should also support various payment options and combat piracy effectively.
