Streaming Growth Steady For Sony Music In Nigeria
Ugwu further explained that the decrease in internet costs had put streaming subscriptions into a top focus. He said MTN Music Plus has 3.5 million subscribers with customers paying competitive rates like NGN 50 naira up to NGN 800 a month to download music, with around 60 million customer base on MTN's Network, which depicts that penetration is still at the early stages.
For Sony Music, ringback caller tones presently bring in a third more revenue for Sony Music than streaming in Nigeria. Ugwe explained that company's decision to have an office in Lagos was decided by the size of the caller tunes market.