African Creatives — The Ultimate Guide to Monetizing Contents

The Covid-19 crisis had a massive impact on the creatives including the music industry. "It’s hard to be creative when experiencing such pressures on income", an award winning Kenyan musician Mr. Shani’s Agent said in his interview with UNCTAD

"COVID19 has seen many creatives turn to digital platforms and technologies to connect with audiences and consumers. They are also looking for ways to monetise the technology,” said UNCTAD’s creative economy programme head, Marisa Henderson.

Read more: Unctad

While recorded music continues to decline and live events are likely to take a significant hit over the next year due to COVID-19, music-streaming revenue is estimated to increase at about 20% CAGR in South Africa, 30% in Kenya, and 40% in Nigeria, resulting in revenues of about $40M, $5.2M, and $17.5M respectively between 2019 – 2023. The world’s three largest record labels, Universal Music Group, Sony Music, and Warner Music Group have all entered the African market either by signing African artists, acquiring African record labels, and/or opening offices on the continent.

Read more: theafricareport

Mr Eazi supports the idea that artists should be involved in their revenue streams chain in his interview with the CNN where he said, “It is important for artists to have access to their own data so they can build their own music communities and behind less dependent on distribution companies.”

Now, the question goes, how do we monetize?

• Holding live shows physically/virtually (music creatives)
• Uploading videos online
• Holding online classes (writers)
• Copy editing, consulting clients online.
• Create and sell stock photos, edit videos, seeking crafts/ merchandise online.
  Resources: entrepreneur site

Thanks for reading!