Jay Z, one of the most financially successful Hip-Hop artists in the United States,
unveiled this venture just a month after the launch of his new company Tidal,
the first music service with High Fidelity sound quality,
High Definition music videos, and Curated Editorial, American rapper, record producer, and business mogul Shawn Corey Carter popularly
known by his stage name Jay Z, is reportedly on the verge of expanding his business empire by investing in the Nigerian music industry.
expertly crafted by music journalists.
The industry which produces over 550 albums of different kinds of music annually,
record sales have more than tripled in the past five years and industry stakeholders
have projected that the country's entertainment industry would hit one billion naira by 2020.
It's been an incredible growth. Going back five to ten years ago, artists were flying okadas
as we call it, going to shows and they were really being paid like slaves, Sam Onyemelukwe,
managing director at Esan TV told CNN Africa.
According to homespun statistics, global annual Nigerian live performance
revenues reached around 105 million dollars and despite the several
infrastructural problems and copyright issues, the industry continues to thrive.