…Explores the Billion-Greenback trade behind Afrobeats, Lagos nightlife, and why the tradition is outpacing the economics
TAG, an impartial advisory and funding administration agency centered on Africa’s high-growth sectors, has launched a groundbreaking report titled “Uncharted Waters: Nigeria’s Afrobeats Economic system“. The report presents a provocative, data-driven look into the rise of Afrobeats as a worldwide sound and the financial buildings struggling to maintain tempo with its cultural success.
As Nigerian artists dominate world charts, promote out stadiums, and rack up billions of streams, Afrobeats has turn into one of many nation’s most seen exports. But behind the worldwide highlight, TAG reveals an ecosystem that is still largely casual, undercapitalized, and structurally disconnected from the monetary success its sound generates.
From poor royalty distribution and weak copyright enforcement to an absence of venues and enterprise infrastructure, the report reveals how the economics behind the music have did not evolve alongside the expertise driving it.
The report additionally turns consideration to the Lagos nightlife economic system, an often-overlooked engine of Afrobeats. Golf equipment, lounges, and reside occasions in Lagos not solely launch new sounds and break rising artists but additionally gasoline a ripple impact of spending throughout hospitality, trend, luxurious, and concrete logistics. By way of what it calls the TAG Hennessy Check, the agency highlighted how the common membership desk spends ₦617,000 ($402) per evening, underscoring Afrobeats’ function as each a cultural motion and financial engine.
This showcases that Lagos nightlife serves as a robust barometer shaping traits, with Afrobeats consumption at its core.
“Afrobeats isn’t simply music, it’s a viable economic system,” mentioned Fiyin Ogunlesi, Managing Principal at TAG. “However we’re nonetheless constructing castles on sand. We will’t proceed to export this sound globally with out constructing the buildings at house to assist and defend the creators, entrepreneurs, and communities behind it. Meaning higher monetary instruments, stronger IP enforcement, and severe funding within the enterprise of tradition.”
Uncharted Waters presents not solely an in-depth financial and cultural evaluation but additionally a name to motion. TAG urges traders, policymakers, and artistic trade gamers to collaborate in turning Afrobeats from a creative success story right into a sustainable financial power, one which delivers worth not simply to world labels or tech platforms however to the Nigerian creatives and communities at its core.
The total report is now out there for obtain right here – tagafrica.com.ng
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