It has barely been four years since Boomplay, Chinese-backed music-streaming startup was started, but it does appear that it is targeting French-speaking nations now after it first launched in West Africa.
“We have started to look at the Francophone regions such as Cameroon and Cote d’Ivoire, as well as the areas where there is a large diaspora community such as North America and Europe,” General Manager Dele Kadiri said in Lagos.
Although the company is buoyed by its $20 million funding from investors, it does also seem that finally Africans are really beginning to pay to listen to music. The startup is presently in Nigeria, Kenya, Ghana and Tanzania.
As part of its remarkable success, Boomplay now has more than 53 million users, up from 42 million in April, and is adding 2 million a month to make the startup Africa’s largest music-streaming platform, Kadiri said.
Read also: How Startups Are Changing The Face Of Africa’s Music Streaming Service
The startup is a joint venture between Chinese phone maker Transsion and Chinese consumer apps giant NetEase but is specifically focused on the African market. Although it has succeeded in raising $20 million in outside funding to invade more sub-Saharan countries and continue to build up its database of music tracks, the startup has refused to disclose its valuation.
In 2018, Boomplay sealed its first partnership deal with a global music company following a major licensing deal with Universal Music Group for Nigeria, Ghana, Kenya, Tanzania, Rwanda, Uganda, and Zambia. UMG’s catalog includes African artists, as well as global recording artists including Post Malone, Eminem, and Nicki Minaj.
“Chinese investors see Africa as the China of 10 years ago,” Phil Choi, Boomplay’s head of international acquisitions and partnerships was once quoted as saying, “so they feel they can apply the same models to it, and bring it up to being a very prosperous region.”
“Africa is full of opportunity, from its young demographics to its vibrant culture, and Boomplay sits in the middle of all of that greatness,” said Tony Li, managing director of Maison Capital, in a statement. “Boomplay has incorporated NetEase’s experience in the music streaming business with Transsion’s expertise in local operations, and in doing so Boomplay became the dominant player in the region in a very short period of time. As more of Africa comes online, we are confident that Boomplay will continue to be a major force in business and culture.”
Charles Rapulu Udoh
Charles Rapulu Udoh is a Lagos-based Lawyer with special focus on Business Law, Intellectual Property Rights, Entertainment and Technology Law. He is also an award-winning writer. Working for notable organizations so far has exposed him to some of industry best practices in business, finance strategies, law, dispute resolution, and data analytics both in Nigeria and across the world