The growing online platform for digital music distribution in the country is now being valued at $100 million, about N16.2 billion, according to analysts with Spinlet, with iRoking and iTunes dominating the market.
Digital distribution outfits have sprung up in the last six years, making it possible for the spread of local music online and for investors to tap into an estimated $10 billion digital market globally
“Investors in digital music distribution are seeing huge potential for profits,” says an analyst.
The internet has become an important element of modern economic infrastructure recently, fundamentally changing how people interact, how consumers shop, and how products and services are designed, developed, marketed, and delivered. The internet has also changed how businesses operate and interact with one another.
