Gvt out to boost music as revenue hits 72.9tri/- globally

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Gvt out to boost music as revenue hits 72.9tri/- globally
Gvt out to boost music as revenue hits 72.9tri/- globally

Africa-Press – Tanzania. TANZANIA: AS global music revenue hits $28.6 billion (approximately 72.9 tri/-), the Ministry of Culture, Arts, and Sports has reaffirmed its commitment to support locals to seize the lion’s share from the rapidly growing industry.

The latest International Federation of the Phonographic Industry’s (IFPI) Global Music Report 2024 indicates that music revenues climbed by 10 percent to $28.6 billion last year, with Sub-Saharan Africa (SSA), where Tanzania is located, recording 24.7 per cent growth.

Speaking exclusively to the ‘Daily News’, the Director of Arts Development in the Ministry, Dr Emmanuel Ishengoma, stated that the government is creating an enabling environment to ensure that music producers, composers, writers, singers, and all involved in the chain reap big amid the on-going technological changes that have subsequently transformed the industry.

“The world is moving into digital, especially in production and distribution of music… and it is our responsibility to ensure that stakeholders are benefiting from the changes,” Dr Ishengoma said.

He added that in 2022 and 2023, the government, in collaboration with the Muzic in Africa Foundation, held an ‘ACCES’ forum which brought together famous musicians in Tanzania to link them with international markets through digital platforms. In 2022, according to the director, Tanzania’s government made legal reforms in the Copyright Act No. 7 of 1999 to allow music stakeholders to collect royalties and distribute them accordingly.

Commenting on the report, the IFPI Director for Sub-Saharan Africa, Angela Ndambuki, said the strategic investment by the record companies over the years in the region has propelled the growth of the region’s recorded music industry.

Citing the dossier, the director added that streaming numbers have grown year on year and the potential of the region is promising, especially with the spectacular performance of African artists on the global stage.

“There must be concerted efforts by stakeholders including government, users of music, and industry players to work towards improving policies and compliance to grow the region’s music business. This is Africa’s moment; we must not lose the momentum,” she insisted.

The sustained growth of the recorded music market, according to IFPI’s Chief Legal Officer and Interim Joint Head of IFPI, Lauri Rechardt, is encouraging, but it’s also important for us to acknowledge the challenges the industry faces, including streaming fraud, digital piracy in all its forms, and, of course, the threat from the abuse of generative artificial intelligence if it is not developed responsibly and with respect for artists’ and labels’ rights.

IFPI, the voice of the recording industry worldwide which represents more than 8,000 record company members across the globe, works to promote the value of recorded music, campaign for the rights of record producers, and expand the commercial uses of recorded music around the world.

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