Business
We’ve paid $40bn in royalties to music industry, says Spotify
Published
2 years agoon
By
Lanre
Spotify unveiled its annual music royalties report tagged ‘Loud & Clear’ at its ‘Stream On’ event on Wednesday.
The report highlights the success of artistes on the platform.
“The 2023 update demonstrates that more and more artistes are finding success than ever before: The number of artistes generating $1m+, as well as those generating $10,000+, has more than doubled over the past five years,” the report reads.
“Additionally, we estimate that the 50,000th highest-earning artist on Spotify generated more than $50,000 across all recorded revenue sources.
“Loud & Clear also details how Spotify pays the vast majority of every dollar it generates for music—nearly 70%—back to the industry, and all-time Spotify payouts to music rights holders are approaching $40 billion.”
At the ‘Stream On’ event, Daniel Ek, Spotify founder & CEO, also shared his keynote presentation.
“Stream On is about all the ways we are bringing Spotify to life and letting creators at all stages of their careers know that we are open for business,” he said.
“We are focused on building the best home for them – a place where they can establish a career, thrive and grow and where the world can be inspired by their creativity.
“And that’s what we’ve been doing for almost 17 years: building, improving and reimagining this home to better meet creator needs and help them chart new pathways to success.
“As we look to the future, we are excited to expand that ambition to even more creators across new formats. We’re enabling more creativity, discovery and personalization than ever before by providing the best resources, support, and interactivity..”
Last year, Spotify named Burna Boy, Ayra Starr, Tems, Asake, and Wizkid among its most-streamed artistes in Nigeria in 2022.
Related
You may like
Velox Real Estate launches Rivers State’s first eco-friendly luxury resort estate
Export & Prosper Masterclass: Unlock U.S. market opportunities for Nigerian entrepreneurs
ECOWAS Energy Information System workshop to strengthen regional energy data integration
Ikom cocoa factory poised to generate $600m annually, Akwa Ibom eyes tourism boom
Woodhall capital partners with Afreximbank to launch $25 million SME export boost in Nigeria
UK-Nigeria bilateral relations strengthened during high commissioner’s visit
Business
Velox Real Estate launches Rivers State’s first eco-friendly luxury resort estate
Published
1 week agoon
March 11, 2025By
akonitv
Velox Real Estate launches Rivers State’s first eco-friendly luxury resort estate, blending sustainability, urban living, and economic growth
In a groundbreaking move that will redefine real estate and tourism in Rivers State, Velox Real Estate & Investment Limited, led by visionary developer Akorvueze Nwakanma, has officially commenced construction on the region’s first world-class eco-friendly resort estate.
Situated in the heart of Port Harcourt, this pioneering development is set to revolutionise urban living by seamlessly integrating luxury, sustainability, and economic advancement.
The resort estate is the first of its kind in Rivers State, offering an exclusive residential and commercial hub designed to merge modern architectural excellence with nature’s tranquillity.
With a strong emphasis on environmental sustainability, the development will feature cutting-edge green technologies, lush landscapes, and eco-friendly infrastructure, creating a perfect balance between urban sophistication and responsible living.
Speaking at the project site alongside key industry stakeholders, Akorvueze Nwakanma reiterated his commitment to reshaping the state’s real estate sector and positioning Rivers State as a premier destination for high-end tourism.
“This project is more than just an estate; it is a statement of intent, our pledge to redefine what is possible in urban development.
We are creating a haven where business and leisure coexist, where innovation meets sustainability, and where Rivers State emerges as a trailblazer in eco-friendly holiday destinations,” he stated.
The resort will include an array of premium amenities, such as:
– Luxury residences
– An artificial lake
– A golf course
– Greenhouse farms
– A farm-to-table dining restaurant
– State-of-the-art commercial spaces
– Recreational hubs
– Zero-carbon green zones
With sustainability at its core, the estate will incorporate energy-efficient systems, eco-friendly building materials, and advanced water conservation techniques, setting a new benchmark for green real estate in Nigeria.
Beyond its architectural brilliance, this project is expected to significantly boost Rivers State’s economy.
By attracting high-value investors, creating job opportunities, and enhancing the region’s tourism sector, the development will elevate Port Harcourt’s global appeal as a centre for commerce, leisure, and sustainable living.
As construction gains momentum, excitement is building among real estate investors, business leaders, and potential residents eager to be part of this transformative project.
With Velox Real Estate at the helm, this eco-friendly luxury resort estate is not just a landmark development—it is a bold step toward a greener, more prosperous future for Rivers State.
Related
Business
Export & Prosper Masterclass: Unlock U.S. market opportunities for Nigerian entrepreneurs
Published
2 weeks agoon
March 7, 2025By
akonitv
Join the Export & Prosper Masterclass in Lagos on 8 March 2025 to learn how to export legally and profitably to the U.S. Register now!
Entrepreneurs, product owners, and Nigerian manufacturers eager to expand into the U.S. market now have the perfect opportunity to gain valuable insights at the **Export & Prosper Masterclass – Lagos Edition**, hosted by **USA Africa Business Hub**. This exclusive event, scheduled for **Saturday, 8 March 2025**, at **9:00 AM**, will take place at the **Manufacturers Association of Nigeria Centre (MAN Centre)** in Ikeja, Lagos.
The masterclass aims to equip Nigerian entrepreneurs with the necessary knowledge and tools to successfully export their products to the United States while complying with U.S. regulations. Participants will learn how to export profitably, safely, and legally through expert-led sessions.
**Gbenga Omotayo**, the **Founder of USAfrica Hub** and **USAfrica Business Expo**, will lead the event. Omotayo will guide attendees through critical topics such as navigating **U.S. export regulations** (FDA, USDA), proper **product packaging and labelling** for the U.S. market, and building relationships with verified U.S. distributors. He will also introduce expert tools and resources designed to help entrepreneurs expand their businesses.
One of the unique features of the masterclass is the opportunity for Nigerian manufacturers, agri-food producers, and apparel designers to bring product samples for evaluation, offering a potential route to U.S. distribution deals. This is a rare chance to showcase products directly to experts and potential distributors.
The event is **free of charge**, but **seats are limited**, and early registration is required to secure attendance. Interested participants can register at **www.tix.africa/exportandprosper** or contact the organisers via WhatsApp at **+1 (917) 826 3566** or **081 0375 7728**.
Related
Business
ECOWAS Energy Information System workshop to strengthen regional energy data integration
Published
3 weeks agoon
February 27, 2025By
akonitv
The 3rd annual ECOWAS Energy Information System workshop in Lagos aims to enhance energy data management and regional integration
The 3rd annual workshop on ECOWAS Energy Information System is underway in Lagos, bringing together representatives from ECOWAS member states, ECOWAS specialised energy agencies (WAPP, ECREEE) and ECOWAS Directorate of Energy and Mines to enhance energy data management and integration across the region.
Also read: ECOWAS food and cultural festival 2024 to address West Africa’s security challenges
The four-day workshop, running from 25 to 28 February 2025, aims to reinforce Member states capacity, and improve the quality of energy data at national and regional level in order to address challenges in gathering energy statistics on supply, usage, and availability in West Africa.
The ECOWAS Energy Information System (ECOWAS-EIS) was launched on 24 March 2023 in Bissau, Guinea-Bissau, to ensure the reliable collection, storage, and dissemination of energy data.
ECOWAS developed this digital platform to better guide policymakers, investors, and researchers with accurate energy information.
Speaking at the opening event, the Director of Energy and Mines at the ECOWAS Commission, Dabire Bayaornibè, highlighted the progress made in harmonising energy data collection.
He noted that before the implementation of the ECOWAS-EIS, many member states lacked access to comprehensive energy information.
Now, data on electricity access, energy production and consumption, energy infrastructure, energy efficiency etc. are available, enabling effective monitoring and planning.“In previous years, several member states struggled to track energy usage and outages.
Today, through ECOWAS-EIS, we are improving access to accurate data, enhancing national energy information systems, and strengthening regional integration,” Bayaornibè said.
Nigeria has already set an example by launching its National Energy Information System (NEIS) in October 2024 following a support from ECOWAS Commission through development of the computerized data collection system and training of national actors.
The system provides real-time energy data, aiding the government and private sector in decision-making.Bayaornibè stated that ECOWAS aims to replicate Nigeria’s success across other member states.
The Director-General of the Energy Commission of Nigeria, Dr Mustapha Abdullahi, represented by the Director of Energy Utilisation & Management, Engr. Mohammed Adam Mundu, described the workshop as a crucial step in consolidating three years of effort towards a unified ECOWAS Energy Information System.
“The first workshop, held in Accra, Ghana, in 2022, provided an assessment of our energy information system. Côte d’Ivoire hosted the second edition in 2023, leading to improvements in data quality.
This third workshop in Lagos now focuses on consolidating our progress and expanding the system across Member States,” he said.Guinea-Bissau’s Director of Energy Planning and Statistics, Mohammadu Saido Baldi, emphasised the importance of knowledge sharing.
He noted that learning from the experiences of other nations would help improve Guinea-Bissau’s national energy database.“
A well-structured energy information system is essential for developing informed policies and achieving long-term energy security,” Baldi stated.
The ECOWAS Energy Information System workshop aligns with Priority Action 1.6 of the updated ECOWAS Energy Policy, which aims to improve governance and performance in the energy sector by enhancing data access and harmonisation.
The initiative also supports the development of the West African Power Pool and the African Atlantic Gas Pipeline, further strengthening regional energy integration and economic growth.
By ensuring a consolidated and reliable regional energy information system, ECOWAS is reinforcing its commitment to achieving Sustainable Development Goal 7 (SDG7) – access to affordable, reliable, sustainable, and modern energy for all.
Related

Lagos seafood festival to boost maritime economy, celebrate aquatic heritage

Oyo State to sanitize travel and tour sector, targets unregistered operators

Abia State identifies 55 cultural heritage sites, expands electricity market
Trending
- Business2 years ago
Ooni of Ife Discusses Business and Peace Initiative in Kenya
- Culture2 years ago
Outrage as Ezendigbo of Ibadanland confers chieftaincy title on Olubadan
- Events2 years ago
Glamour, glitz as B’obagunwa Omo’ba Obinrin Akile Ijebu celebrates New Year party (Photos)
- Events2 years ago
Onitoomu of Ito-Omu installs two new chiefs (Video, Photos)
- Culture2 years ago
The Four Igbo Market Days and Their Significance In Omenala ÌGBÒ
- Paranormal2 years ago
Black Cat Superstition: Good and Bad Luck Beliefs
- Events2 years ago
Laminisa I, HRM Oba Dr. Lawal, marks 15years on throne
- News2 years ago
Exclusive interview with Onitoomu of Ito Omu kingdom (Video)