Nigeria not among world top 20 marketers
Despite the musical triumphs of her several top artistes, Nigeria has failed to make it into the world’s top 20 biggest music markets for 2012, the latest ranking by the International Federation of the Phonographic Industry, IFPI, claims.
The federation placed the United State of America number one, with $4.17 billion (N661 billion) trade value – 49% each for physical and digital market and a $13.4 (N2,100) per person consumption. Japan was ranked 2nd, with $3.96 billion (N630 billion) market value with 73% for physical market, and 25% for digital market; Germany was 3rd, with $1.41 billion (N224 billion) market value, and a physical and digital market value of 81% and 13% respectively.
Fourth was the United Kingdom, with a market value of $1.38 billion (N219 billion); physical market, 67%; and digital market, 25%. South Africa, at 18, was the only African country on the list, with a trade value of $125.6 million (N20 billion) and a physical and digital market of 93% and 5% respectively.
With the international success of many Nigeria music stars this year- Iyanya, Whizkid, Ice Prince, P Square, D’Banj- some industry insiders were wont to disagree with the ranking, while others, enumerating the many challenges plaguing the industry, said Nigeria not being on the list was justified, and the country would not be included in the 2013 list Too many issues A music blogger and writer (HipHop World, Popoff Central), Ayomide Tayo, said Nigeria would not make the 2013 list, despite its huge population and number of records released this year.
According to Tayo, Nigerian music revenue could increase and the country make the IFPL ranking if the music industry put its house in order and keyed into social media. “For Nigeria to become one of the biggest music markets we need to have a functioning music industry. We need to get the basics right.
The federation placed the United State of America number one, with $4.17 billion (N661 billion) trade value – 49% each for physical and digital market and a $13.4 (N2,100) per person consumption. Japan was ranked 2nd, with $3.96 billion (N630 billion) market value with 73% for physical market, and 25% for digital market; Germany was 3rd, with $1.41 billion (N224 billion) market value, and a physical and digital market value of 81% and 13% respectively.
Fourth was the United Kingdom, with a market value of $1.38 billion (N219 billion); physical market, 67%; and digital market, 25%. South Africa, at 18, was the only African country on the list, with a trade value of $125.6 million (N20 billion) and a physical and digital market of 93% and 5% respectively.
With the international success of many Nigeria music stars this year- Iyanya, Whizkid, Ice Prince, P Square, D’Banj- some industry insiders were wont to disagree with the ranking, while others, enumerating the many challenges plaguing the industry, said Nigeria not being on the list was justified, and the country would not be included in the 2013 list Too many issues A music blogger and writer (HipHop World, Popoff Central), Ayomide Tayo, said Nigeria would not make the 2013 list, despite its huge population and number of records released this year.
According to Tayo, Nigerian music revenue could increase and the country make the IFPL ranking if the music industry put its house in order and keyed into social media. “For Nigeria to become one of the biggest music markets we need to have a functioning music industry. We need to get the basics right.
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