Music Business

All the Interesting Key Points Made at the Social Media Week Lagos 2014 MUSIC BUSINESS SEMINARS #SMWLagos

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Social Media Week Lagos 2014 came to a close on the 21st of February 2014 and it was a very interesting week. The panels and discussions on various industries were captivating and very inspiring.

For our AML readers who were unable to attend the music business seminars we suggested prior to the event, not to worry! We have gathered some key points made at the events, via social media (twitter)  to share with you.

We also round off our listing with a  video from Tech Cabal’s Battlefield Social Media Week Lagos presentation which included a pitch by DECODED, music lyrics site founded by AML readers  and sponsored by even more AML readers.

Enjoy!

− #SMWMusicAfrica: Music + the Social Media Red Herring
( Held: 19th Feb, 2014)

Key Points made:

* Spinlet is the iTunesMusic of Africa

* Buying followers will not help your song to be sold

* Do you consider an artist who had good songs but no online presence?

* Can we call the street a better or the best distribution avenue or channels for the artistic works?

− Decoded Presents: Music Discovery in The Digital Age
(Held: 20th FEB,2014)
Key Points made:

* We are a new facet of African music through lyrics. Fans can comment and translate the lyrics

* We have no plans to sell music. We don’t. We are focused on Lyrics

* Decoded allows music lovers download music.

* As a musician, utilize social media and blogs to tell your own stories online – Chika Uwazie

− #SMWMusicAfrica: Copyright:The 500 pound Gorilla
(Held: 19th FEB,, 2014)
Key points made:

* 90% of radio stations in Nigeria are playing music from laptops and not logging songs they play- Obi Asika

* Broadcasters must understand that the price of music is part of their operation costs

* COPYRIGHT- The rights a country grants a creator of an original work

* Broadcasters in Nigeria have been notorious for not paying for songs

* TV and Radio stations by Law are supposed to log every song they play.

− #SMWMusicAfrica: The Business of Touring;How Live Music Went Social
(Held:19th FEB, 2014)
Keypoints made:
* There is no music business without touring!

* There are so many places to tour around Nigeria besides Lagos

* It is ALWAYS a good time to tour – Sasha

* Culture of buying Tee-shirts and other Merchandise from artistes is not yet mature in Nigeria – Sasha

* RIGHT NOW is a good time to tour. There are so many people hungry for entertainment

− #SMWMusicAfrica: Powered by Beat 99.9FM and Billboard Music
(Held: 19th FEB,2014)
− Keypoints Made:
* Nigerian Music came from nothing to being the hottest thing now.

* you may not be ‘Beyonce’ level as far as music, but what social media does is to level the playing field

* Physical distribution is out of the chain. Right now, it’s ringtones and endorsements

*Music Success is not based on the level of No 1 hits.

− SMWMusicAfrica: Financing The Entertainment Sector
(Held on the 19th feb, 2014)

Keypoints Made:

* Music Business owners need to build business models that help different stakeholders

* Banks cannot finance passion only. Banks want to see balance sheets, cashflows and business plans

* Banks need to understand the value chain of the music industry

* The Banks are making some effort to engage with the industry, but the industry also needs to work together and come together in one voice

* You have validated the shows, now sort out the Business!.

− Red Bull Presents: DIGITIZE ME! How Nigerian Artists and Producers are leveraging Digital Media to win!
(Held on the 18th of feb, 2014)

Keypoints Made:

* RedBull Academy is an opportunity open to DJ’s, producers, vocalists, anyone doing music.

* RBMA is like a magic school bus going from place to place gathering people from different cities together.

* The academy taught me that there was more to music and allowed me to experiment with different forms of music- DJ Jimmy Jatt

* With social media, it has become very easy for producers to send out music and collaborate

* This year, the RedBull academy will be in Tokyo!.

− What’s Next? Music, Fashion and Nitelife;Africa’s New Tourism Ambassadors
(Held on the 19th of feb, 2014)

Key points Made:

* People are looking to Africa for inspiration, look at music, fashion e.t.c

* Everyone is looking to Africa as the next big opportunity

* You need to add value to the music you put online. So it is different and attracts the outside community.

-Ojonoka Agudah

(TechCabal Battlefield – On Febuary 21st 2014, Techcabal (hosted) a showcase of Nigerian technology startups at the first edition of the Techcabal Battlefield. Startups (got) the chance to present their products and businesses to an audience of users, geeks and investors during the 2014 Edition of Social Media Week Lagos. Cash prize of $10,000 $20,000, gifts and massive exposure online and in traditional mass media was at stake for the winning startups. Watch to see the winner.)

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Ojonoka Agudah

Ms. Ojonoka Agudah is an attorney licensed to practice law in Nigeria, West Africa, whose practice area focuses on Intellectual Property, Sports and Entertainment Law. A 2012 graduate of the Nigerian Law School, Bwari, Abuja, Agudah is also an Africa Music Law™ intern. Her articles will appear on Mondays and Wednesdays, now until May 2014. Comments and feedback on her articles are encouraged and highly welcomed.

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