More record labels are pulling their music from Boomplay, a popular streaming platform in Africa, due to lingering issues with royalty payments. The latest companies to remove their catalogs are Sony Music, Orchard, and Awal.
Boomplay, which expanded its operations to Africa in 2015, has grown significantly, boasting 95 million active monthly users. However, the platform has faced criticism for failing to remit royalties to artists and labels.
According to reports by TurnTable Charts, Boomplay has not paid royalties for two years, with some companies claiming the platform owes them a backlog of payments dating back to 2021.
The removal of catalogs from major labels like Sony Music, Orchard, and Awal will significantly impact Boomplay’s offerings. Artists affected by the move include Davido, Wizkid, Tems, and Lojay.
Economic Downturn in Nigeria
Nigeria’s economic downturn, marked by a 33% inflation rate, has reduced the spending power of its over 200 million citizens. Boomplay’s business model, which focuses on attracting customers outside urban cities, has been severely impacted.
Lack of Transparency and Accountability
The inability to remit royalties and the lack of transparency and accountability have led labels to cut ties with Boomplay. Music Executive Igbokwe Amaechi noted that labels have had to physically visit Boomplay’s office to demand their royalties due to the platform’s lack of transparency.
Impact on the Music Industry
The move by major labels to remove their catalogs from Boomplay highlights the economic challenges facing Nigeria’s music industry. The industry is still struggling to consolidate Afrobeats’ global gains, and this development dents hopes of attracting foreign direct investment.
The situation calls for concern and action from stakeholders, who should engage the private sector and government to address the issues hindering Nigeria’s music industry growth.
