Nigerian on-demand music streaming platform MePlaylist has secured investment from Mathew Knowles; Beyonce Knowles’ father.
The streaming service hopes to take advantage of the rise in the consumption of Nigerian music through online platforms for financial returns.
Founded by Olakunle Oladehim, MePlaylist, the streaming firm seeks to bridge the gap in the streaming business in Nigeria and Africa with the new investment.
The music startup believes the African market has not been explored enough with its one billion-plus population largely young.
Speaking on the investment, Mathew Knowles, the founder of Music World Entertainment Corporation, said, “MePlaylist is Africa’s answer to the popular music streaming platforms, but it takes streaming a step further by personalizing the experience for each consumer based on their consumption patterns and the technology available to them. This and the population of Africans both on the continent and in the diaspora is why I am proud to have invested in MePlaylist.”
Artistes like Davido, Tiwa, Wizkid, Yemi Alade, Burna Boy, Olamide, Diamond Platinumz, and new arts like Fireboy and Joe boy are driving the use of internet in Nigeria and Africa, making the streaming business viable on the continent.
Ayodeji Oyenekan, the Head of Technical Innovation at MePlaylist stated that several artistes are beginning to release their albums and singles on platforms with paywall, ignoring the usual hardcover album. “Because of the innovative app we have built, MePlaylist will offer artists, aggregators and other content owners the opportunity to better monetize their content and reach a wider audience,” he said.
With Music World Entertainment Corporation joining the likes of Music World International and Track Record Entertainment LTD, UK, MePlaylist will have to rival Spotify and Apple music for the streaming consumer base.
Founder, Oladehin also said, “our focus is to put our users and their music consumption habits first; our platform has been designed with the understanding that people are mobile and constantly in need of new content, so from our interface to our catalogue options, we are making the MePlaylist experience the best in the market.”
He added that “Whether you are looking for the next Wizkid, Burna Boy or Tiwa Savage song or your taste is more Obesere and King Sunny Ade, we have something for you on an app that makes the music more interesting for you.”
