Millicom Debuts Digital Music Initiatives for Africa
September 24 2014 - 9:47AM
Business Wire
Millicom (Stockholmsb�rsen: MIC), the international
telecommunications and media company, announced today two
initiatives to introduce its digital music experience in
Africa.
Tigo Music comes to Africa: a first in its markets
Tigo Music launches across Millicom’s African operations,
starting in Ghana in Q4. Bundled as part of pre-paid data plans,
the service will offer unlimited music streaming with instant
access to a library of more than 30 million songs. It will be the
first of its kind.
Today, Tigo Music is already a great success in Latin America
with 600,000 subscribers in place and having emerged as the largest
source of digital revenues for the music industry in Colombia.
Africa Music Rights: growing the continent’s digital music
market
Millicom has formed a partnership with one of Africa’s leading
digital music companies, Africori, to fund, acquire and manage
music rights through “Africa Music Rights” (AMR) to which Millicom
will contribute a significant majority of the initial
investment.
AMR will serve the whole continent, where 70% of music consumed
is locally produced, and will invest in rights directly from
artists, writers, micro-labels and others. Key areas for growth
include South Africa, Nigeria and Kenya as well as Millicom’s six
Tigo markets.
Africori contributes to the venture Coolspot, one of South
Africa’s leading independent labels. It has a catalogue of over
11,000 songs spanning 25 years and includes more than 70 gold and
platinum releases from high-profile South African legacy artists
such as Oleseng and Sammy Malete.
Millicom’s CEO and President, Hans-Holger Albrecht, commented
“Africa’s digital music market is taking off fast with online and
mobile penetration growing strongly. Tigo Music gives us a
first-mover advantage, reinforces our strategic shift from voice to
data and extends the digital lifestyle. AMR complements this by
exploiting the huge opportunity to serve the rising demand for
digital music across the continent. Together they make Millicom a
music powerhouse for Africa.”
Africori’s CEO, Yoel Kenan commented “With the sheer wealth of
music emerging from Africa, supported by the timely market growth
of digital sales, right now Africa is undeniably the most exciting
region for the music business globally. We’re excited to be
partnering with Millicom, a company which shares our passion and
vision for the region, as we continue to shape the music business
in Africa”
About Millicom
Millicom (NASDAQ:MICC) (STO:MIC) is a leading international
telecommunications and media company dedicated to emerging markets
in Latin America and Africa. Millicom sets the pace when it comes
to providing digital lifestyle services to the world’s emerging
markets, giving access to the world, primarily through mobile
devices. Operating in fourteen countries, primarily using the Tigo
brand, Millicom offers innovative and customer-centric products.
Millicom employs more than 10,000 people and provides mobile,
cable, broadband, TV content, online and financial services to over
50 million customers. Founded in 1990, Millicom is headquartered in
Luxembourg and listed on NASDAQ OMX Stockholm under the symbol MIC.
In 2013 Millicom generated revenue of $5.16 billion and EBITDA of
$1.9 billion.
About Africori
Founded in 2009, Africori is the leading digital music company
operating in Africa, dedicated to developing infrastructure by
providing solutions for content owners, rights holders and
consumers. Operating on both a local and international scale,
Africori has offices in Johannesburg, Lagos and London, and
representation in Zimbabwe, Zambia, Ghana, Malawi, Uganda,
Tanzania, and Rwanda. Africori offers digital distribution,
licensing and rights management services to artists, labels and
producers across the African continent.
Music in Africa Facts
The market for digital entertainment services is fast evolving
in sub-Saharan Africa. Music is already the second most popular
feature on mobile phones, with half of smartphone users and one
third of feature phone users listening to music on the go every
day.
- 75% of mobile subscriptions in Sub-Sahara Africa will be 3G/4G
by the end of 2019 (Ericsson Mobility report 2014)
- There will be 412 million smartphones in Sub-Sahara Africa by
the end of 2018 (Informa Telecoms & media 2013). Smartphone
penetration is forecast to double from 12% of handsets in 2013 to
26% in 2018.
- 70% of African music revenue and consumption is driven by
local African repertoire (Informa Telecom & media 2013)
- Mobile music revenues in Sub-Saharan Africa are predicted to
grow from $150m in 2013 to $470m by 2016 (Informa Telecom &
media 2013)
This information was brought to you by Cision
http://news.cision.com
Millicom International CellularPress Enquiries:Julian Eccles,
VPCorporate Communications+ 44 7720
409374press@millicom.comorInvestor Enquiries:Nicolas DidioDirector
of Investor Relations+44 203 249
2220investors@millicom.comorwww.millicom.com
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