South Africa has been ranked as the leading African country in recorded music revenue, generating approximately $33 million, according to data from the International Federation of the Phonographic Industry (IFPI).
The figures, published in the IFPI Global Music Report 2024, highlight the growing impact of music streaming and other digital platforms on Africa’s rapidly expanding music industry.
Egypt placed second with recorded music revenue of about $30 million, followed by Nigeria in third position with $27 million. The three countries significantly outperformed several other African nations in terms of recorded music earnings.
The report also identified streaming as an increasingly important driver of music revenue across the continent. Globally, streaming accounted for 67.3% of recorded music revenue, compared with 24.5% in Sub-Saharan Africa.
Sub-Saharan Africa, however, recorded the fastest growth in streaming revenue worldwide, with earnings rising by 34.7% in 2023.
The expansion has been driven by increased internet penetration, smartphone adoption and the growing popularity of digital music platforms such as Spotify.
Data from Spotify also showed a dramatic increase in earnings by Nigerian musicians, whose streaming revenue surged by 2,500% over seven years to approximately ₦25 billion, equivalent to $28.65 million, as of December 2023.
South African artists, meanwhile, earned about 256 million rands, or approximately $14.01 million, from Spotify during the same period.
Despite the impressive growth, disparities in income levels and access to digital services continue to shape the performance of Africa’s music industry.
Countries with higher disposable incomes are generally better positioned to generate revenue from paid music streaming services, giving their artists and music industries an advantage.
As streaming continues to play a bigger role in the global music business, industry experts have called for greater investment in digital infrastructure, improved internet access and stronger opportunities for African artists to benefit from the continent’s expanding music market.
By: Prince Martey-Sogar