Today more than ever before, African artists are boosting the continent’s global influence. African musicians are going further and shaping international trends. These cultural entrepreneurs are creating jobs for Africa’s expanding youth population and fueling economic growth.
African music has witnessed a meteoric global rise. Afrobeats artists were streamed over thirteen billion times on Spotify in 2022. Revenue from the music industry in Sub-Saharan Africa grew by 24 percent last year, the fastest growth globally. Between 2017 and 2023, royalties for South African artists on Spotify have increased by 500 percent; Tyla, a twenty-two-year-old who earlier this year referred to herself as a “Jozi girl living the dream,” won the first Best African Music Performance award at the 2024 Grammys. And major labels like Audiomack and Universal Music Group have opened offices on the continent, investing heavily in African talent.
With Africa’s population projected to nearly double to 2.5 billion people by 2050, the continent will host one-third of the planet’s young people and the fastest-growing consumer markets for the entertainment industry. Music streaming revenues in Africa are expected to rise from $92.9 million in 2021 to $314.6 million by 2026. Platforms like Spotify, Paramount+, and Netflix are vying for a share of this expanding market with compelling, locally produced content. Nigeria, poised to become one of the ten biggest economies in the world by 2050, generated $45.2 million in revenues from music, television, and film streaming in 2022—a 55 percent increase compared to the year before.
Some African governments, international partners, and investors are striving to boost their creative industries to stimulate growth, attract investment, and create jobs. In April 2024, Côte d’Ivoire partnered with a venture capital firm and bank to create a fund for entertainment startups. In October 2023, the International Finance Corporation (IFC) and Sony collaborated to invest in Africa’s creative industries. In announcing the initiative, the IFC highlighted the African creative economy’s “significant, untapped potential . . . for boosting economic growth and improving employment opportunities for young people and women.” Zambia announced a $100-million investment plan to transform its film industry.
But African governments, their international partners, and investors can do more to ignite Africa’s creative industries. Artists have too often succeeded in spite of, not thanks to, the state—where regulatory barriers, weak intellectual property protections, and exacting tax regimes may inhibit the creative economy. Development finance institutions can follow the IFC’s lead by offering blended finance options to de-risk similar investments in other countries. The Democratic Republic of Congo—historically considered a regional cultural superpower, especially in music—shows significant growth potential, for example. Contemporary Congolese stars are yet to experience success akin to that of their Nigerian and South African peers; even Congolese icon Fally Ipupa has less than 7 percent of Nigerian artist Burna Boy’s monthly listeners on Spotify.
Beyond their remarkable economic impacts, Africa’s cultural entrepreneurs are reshaping global perceptions of the continent. As one African analyst noted, “historically, when we talk about global soft power, Africa has never really been top of mind.” But through television series and films set in Africa and written by Africans, artists are rewriting the infamous “single story” that has shaped international perceptions of a continent ravaged by war, poverty, and disease. One African-British journalist wrote about how “Afrobeats artists were the best [public relations] team we could ever have asked for—talented, arrogant, and unapologetically African.
African governments, international partners, and investors can all play a critical role in further unlocking the potential and impact of the continent’s creative industries. However, they must ensure that African artists and entrepreneurs retain ownership and creative control amid increasing international engagement and investment. Whether that is successfully done will determine whether Africa’s cultural economies benefit from the hard work of the artists and whether creative industries across the continent can build a new, better-informed international appreciation for Africa’s economic and cultural power.