Connect with us

Broadcasting

Stakeholders call for Digitisation of African Music @ AFRIMA

Published

on

Kindly share this post

Discussants at the All Africa Music Award (AFRIMA) 2017, yesterday unanimously called for digitisation of music produced in the African continent, to ensure global competitiveness.

The discussants, who made the call at the Music Business Roundtable of the 2017 AFRIMA in Lagos, said that Africa should not be tardy with digitisation of its music brands.

The event had as its theme: “Digital Takeover: Shaping the Future of African Music, Money, and Media.

AFRIMA is a world-class event that holds annually with live performances by celebrity artistes and televised broadcast to 84 countries around the world.

Some of the panelists include General Manager , Sony Music (West Africa), Michael Ugwu; the Chief Executive Officer, (CEO), Lead Consultant, Kelvin Orifa and Rikki Stein, CEO, Kalakuta Sunrise Ltd.

Others include, Sam Onyemelukwe, Managing Director, Trace T.V, and Angela Martins, Head of Culture Division, Department of Social Affairs, African Union.

Ugwu said that embracing digitisation would not only boost the revenue from the entertainment industry, but also put it on the global map.

“We need to get it right that digitisation will help a lot in our projection to the global market; the more we participate the more our music travels.

“It has a lot of impact aside of the monetary values. Many of the artistes are terrified of live streaming of their music asking what they would gain from it since it’s been streamed live.

“There are lots of gains in it; there are lots of negotiations going on about the benefits of live streaming though i also have a bad experience with one of my clients.

“Sometimes live streaming allows for the global views of music because it travels faster than putting on a site for people to download, which may consume more data,’’ he said.

Speaking in the same vein, Kelvin Orifa, Chief Executive Officer, (CEO), Lead Consultant, said that there were lots of opportunity in the marketing of music.

According to him, the only thing left for the artistes is to provide the right content.

“I had to resign my job at one of the leading communication companies to pursue a career in marketing of music which i found rewarding.

“I think with the right content, music from Africa is on the right path, we now have more demands for African music and more collaboration with African Musicians.

“We still need more content to be out there and compete well in the global circuit. My companies now have been able to gather experience in interacting with other segment in the market.

“We should take knowledge of the market seriously and add it to capacity building of our musicians,’’ he said.

Orifa said that marketing music need a lot of projection as to when to expect yields from the music and also the benefits the content providers would derive from their intellectual property.

“Music marketers must take a short term and long term view of their production. It is by finding the environment where the music will sell and be appreciated.

“A lot of music companies have been in existence for many years but not persistent, here we are today; about 15 years ago the world bloggers didn’t exist.

“The industry like other industry are brands and products, they existed years ago but now going into extinction. We need to have projection because of the dynamics of digitisation.

“A very strong brand will have a history, a story line of where it’s coming from. So, projection is the key to the digitisation,’’ he said.

Also, Onyemelukwe of Trace Music, said that artistes need to be patient with their music before thinking they are on the world map..

“Digitisation is a boom; we need to do more of live streaming for the world to see. Many people around the world now want to listen to African tunes online.

“Although the bandwidth in Africa as regards to live streaming is still low, we need something above the present 4G network that we are using, we need 5G.

“Digitisation of our music makes it travel faster and make it known to the world. We may say that it is not very profitable, but it takes artists to places where they can never imagine,’’ he said.


Kindly share this post

Dear Reader, Your support matters. But we believe that technology makes life more exciting and helps improve the lives of people around Nigeria and indeed the world. That is why, we have devoted our energy to independent reportage of technology and finance and how they affect lives. Our incisive and analytical view of how technology news affects the daily life help individuals and organizations make up their minds. Quality journalism costs money. Today, we're asking that you support us to do more. Kindly support our effort to deliver technology and finance journalism to everyone in the world. Donate as little as N1,000. Bank transfers can be made to: UBA Plc 1017156876 Communication Week Media Ltd

Broadcasting

VFD Group Proposes SplitXchange for Financing Nigeria’s Creative Industry

Published

on

Kindly share this post

VFD Group Plc has proposed the introduction of a specialized Exchange that would address the issue of financing in Nigeria’s entertainment and creative industries to bolster foreign exchange earnings and economic development.

Folagbade Adeyemi, the Managing Director of Splitar Limited,  stated this while speaking at the Capital Market Correspondents Association of Nigeria (CAMCAN) quarterly Forum, sponsored by VFD Group Plc.

Adeyemi revealed that the Group is actively pursuing an exchange platform tailored to the media and entertainment sector, offering diverse investment opportunities for both domestic and international investors.

Currently in its development stage, SplitXchange when launched, would offer a platform for financing the media and entertainment industry, among other alternative assets.

According to him, “Seeing the huge potential in alternative assets, Splitar Holdings, through Split Exchange, would drive the alternative assets space with its revolutionary digital exchange.”

He emphasized the potential of this sector to significantly improve the GDP of the country and called for a collaborative approach towards establishing robust frameworks and clear guidelines to support investment in alternative assets leveraging technology.

“Unless we collaboratively set up institutions that can provide data around these asset classes and place a true value on these asset creators to make seeking finance a lot easier, we will not see significant returns.

“A lot of transactions have been ongoing within that space which are not captured within the country’s value chain. That is what SplitXchange seeks to address.”

With Nigeria’s estimated population at 208.8 million people, Adeyemi highlighted the increasing demand for Nigerian content locally and on a global scale.

Speaking on the theme: “Beyond Tradition: Increasing Relevance of Alternative Assets in the Capital Market,” Adeyemi lamented the absence of robust funding pillars in the country.

He emphasized the potential of Entertainment and Media, noting that globally there is an average market size of $41 billion as of 2021 with an estimated growth of 4.2 per cent.

While pointing out investments by Netflix and Amazon, which have churned out blockbuster movies that have gained viewership and streams across the globe, he noted that Nigeria’s biggest investor in the form of Pension Assets was yet to invest in the entertainment or streaming services.

He stressed the need to solve the problems of liquidity, efficiency, and barriers to entry in the country.

“In today’s market, the quick conversion of assets into cash is a challenge due to the absence of a well-structured marketplace that oversees and regulates these assets.

“The automation of processes such as compliance, escrow account management, dividend distribution, corporate action management, and drag-along actions technology presents a significant challenge in today’s alternative market. The high initial cost of assets in this market restricts participation to only affluent individuals and corporate investors,” he said.

He noted that the sector remains excluded from the organized financial sector due to the inability of intermediaries to recognize Intellectual Property (IP) as suitable collateral to access funding. “Projects are financed informally through a network of angel investors, high net worth individuals, non-governmental organizations, government, and personal savings,” Adeyemi said.

Furthermore, he pointed out that investors and asset creators face challenges when seeking investment opportunities or raising capital through traditional financial avenues.

“Traditional financial institutions are ill-equipped to appraise industry opportunities due to poor visibility, data, and income/revenue leakages leading to mispricing through high-interest rates, market illiquidity of associated securities, poor market depth, and lack of accessibility for retail investors,” he said.


Kindly share this post
Continue Reading

Broadcasting

Konga Travel Commences Canadian Visa Services for Professionals and Students

Published

on

Kindly share this post

Konga Travels and Tours, a leading provider of travel services in Nigeria is pleased to announce the launch of its Canadian visa assistance services through strategic partnership with a licensed Canadian immigration company.

Konga Travels is now equipped and in a vantage position to assist clients in realizing their relocation dreams.

The new Canadian visa services cater to the travel needs of diverse category of individuals including students, workers, professionals, and investors looking for new opportunities in Canada.

Applicants can get exclusive packages on business immigration, study in Canada, work permits, as well as visit and tourist visa services with the professional assistance of Konga Travels and Tours.

The Business Immigration visa is tailored to investors interested in conducting business activities in Canada with a pathway to permanent residency. The Study in Canada visa service caters to students aspiring to pursue undergraduate or postgraduate studies in foreign institutions renowned for their academic excellence and global recognition.

Okezie Akaniro, Senior Vice President of Konga Online Limited expressed excitement about the expansion of the company’s service portfolio saying “We are thrilled to introduce Canadian visa assistance services to our esteemed clients because we understand the aspirations of Nigerians seeking to pursue educational, professional, or business opportunities in Canada.

“This partnership underscores Konga Travels’ commitment to providing holistic travel solutions that meet the diverse needs of our customers, with our expertise and strategic collaboration, we aim to simplify the Canadian immigration process and help individuals achieve their aspirations of studying, working, or investing in Canada,” he stated.

Expressing his enthusiasm for the new service, Abiola Bakare, Business Head of Konga Travels and Tours posited, “At Konga Travels, we continuously seek ways to enhance the travel experiences of our customers.

“The introduction of Canadian visa assistance services aligns with our goal of providing end-to-end solutions and simplifying the travel process for our clients.”

Konga Travels and Tours goes beyond processing visa applications. As part of its suite of services, Konga Travels offers flight booking, hotel reservations, and tour packages. Recently, Konga Travels and Tours further enhanced its offerings by partnering with Coronation Insurance to provide comprehensive travel insurance solutions.

For further inquiries, customers are encouraged to contact Konga Travels through any of the official customer touchpoints provided here:

Phone Call: +234 809 460 5555; 0708 063 5700

WhatsApp: +234 (0) 811 211 4488

Email: [email protected]

Facebook: Konga Travel

Instagram: @kongatravel


Kindly share this post
Continue Reading

Broadcasting

5 Strategies to Prevent Payment Delays from Hurting Your Business

Published

on

Kindly share this post

Payment delays pose significant challenges for businesses across Africa. Maintaining a steady cash flow is essential for business growth and sustainability, making it crucial to address late or non-payments from customers.

So, how can SMEs effectively prevent payment delays? Let’s explore five actionable strategies to keep revenue flowing smoothly.

Streamline Payment Processes
Smoother payment experiences lead to prompt payments. Simplifying the payment process for customers by offering multiple payment options enhances convenience and reduces the likelihood of delays. It is important to note that collaborating with a reliable payment gateway is fundamental in achieving seamless transactions.

Embrace Subscription Models

Adopting a subscription-based payment model ensures consistent cash flow and predictability in revenue streams. SeerBit has innovative features, such as partial debits and automatic retries which fortify this model, ensuring uninterrupted revenue even amidst payment hiccups.

Digitize Invoicing

Transitioning from paper-based to digital invoicing eliminates delays caused by delivery hiccups, while also minimizing the risk of lost documents. Digital invoicing not only streamlines payment tracking, but also enhances operational efficiency.

Implement Incentives and Penalties

Introducing incentives for early payments and penalties for late payments encourages timely settlements. Customers are motivated to pay promptly to capitalize on discounts and other special deals, while the prospect of additional charges or sanctions deters delays. Reminder notifications serve as gentle nudges, prompting customers to fulfil their payment obligations promptly.

Proactive Payment Management

Partnering with SeerBit empowers businesses to proactively manage payment collections. With a robust payment gateway offering seamless transactions, recurring payment capabilities and digital invoicing services, businesses can effectively mitigate the risks associated with payment delays.

Conclusion

Preventing payment delays is critical for sustaining business operations and fostering growth. The World Bank predicts that late payments cost the global economy over $40billion every year. By implementing these strategies and leveraging the capabilities of SeerBit, businesses can optimize their payment processes, ensuring uninterrupted cash flow and significant long-term success.


Kindly share this post
Continue Reading

Trending