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Streaming Growth Steady For Sony Music In Nigeria

Michael Ugwu, General Manager for Sony Music West Africa, said in a statement to Reuters that factors such as the decrease in internet data costs coupled with a growth spurt in population is the driving factors for music downloads in Nigeria. He says Sony Music has set up joint deals in Nigeria with telecoms companies MTN, Airtel and Etisalat in the Lagos since February 2016.

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.

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