MePlaylistTM “a 100% African Start-Up for Music Streaming and Promotion” attracts Investment from Mathew Knowles and other Global Investors
The company which was founded by Olakunle Oladehin, a seasoned
entertainment industry insider, is poised to revitalize the streaming
market
LAGOS, Nigeria, March 30, 2020/ -- MePlaylistTM (https://www.MePlaylist.com/) a 100% African solution to music consumption and promotion has earned
the attention of global investors and partners like Mr Mathew Knowles,
father of artists Beyoncé and Solange Knowles. Mr Knowles believes
MePlaylistTM offers music consumers in Africa a unique
experience that is much more simplified for a continent where internet
penetration and the use of smartphones is projected to experience
significant growth.
"MePlaylistTM is Africa's own 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 MePlaylistTM", he said in a statement.
With increasing mobile phone usage in Africa and the global prominence
of African acts like Diamond Platinumz, Davido, Tiwa, Wizkid, Yemi Alade and Burna Boy, convenient and reliable platforms with expansive
catalogues of streamable are far from the norm on the continent. Many
streaming platforms prioritize commercialization efforts in high-income
countries and pay less attention to low and middle-income countries.
This has created a gap between Africa’s rich musical contents and the
need to reach fans through channels that make monetization and exchange
of value easier and convenient.
It is solving this challenge that birthed MePlaylistTM; a
music streaming platform that presents music content to users in an
intuitive and data-friendly fashion, projecting African acts to the
world and vice versa. The platform comes with a unique administrative
royalty distribution, multiple plan types and subscription currencies,
high-quality audio, plus DDEX standards for ingesting and reporting
usage. These amongst others have attracted global music stakeholders to
the platform, hence making it possible to partner with music
distributors globally.
According to a year-end report (https://bit.ly/2UELjEM) from the RIAA, revenues from streaming services grew nearly 20% in 2019 to $8.8 billion, accounting for 79.5% of all recorded music revenues,
which means the streaming music services’ share of total music revenues
is bigger than ever. With the global music industry now worth about
$19.1 billion, the African market is still largely untapped with its 1
billion-plus mostly young population and still accounts for a mere 2% of the global recorded-music sector and less than 1% of the royalties
collected.
Unfortunately for music consumers in Africa, many of whom fall between
the ages of 17 and 22, streaming services though ubiquitous, are not
without their challenges. Consumers have over time complained about the
high cost of subscribing to some platforms, the unresponsive and
unexciting user interfaces and catalogues not as exhaustive as consumers would love. This has presented a challenge for content creators in
Africa to earn suitable revenue from their work.
MePlaylistTM is a 100% African solution to music consumption
and promotion. The company which was founded by Olakunle Oladehin, a
seasoned entertainment industry insider, is poised to revitalize the
streaming market by providing a music consumption and promotion service
that will make music consumers enjoy their listening experience on an
optimized app without breaking the bank or running out of options.
MePlaylistTM users will also be able to curate their own playlists and get followers to enjoy new music from all over the world.
According to Olakunle, "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 MePlaylistTM experience the best in the market".
Olakunle further emphasised the increasing importance of user-generated
content (UGC) to give more visibility to music that matters. In his
words “MePlaylistTM has been designed to be an intelligent music App that applies artificial intelligence to give each user a unique experience.”
His words are echoed by Ayodeji Oyenekan the Head of Technical Innovation at MePlaylistTM who says the MePlaylistTM app has been built to make expanding the catalogue on offer and other features as seamless as possible. “Because of the innovative app we have built, MePlaylistTM will offer artists, aggregators and other content owners the
opportunity to better monetize their content and reach a wider
audience.”
Mr Knowles’ Music World Entertainment Corporation is joining other
global industry majors who have invested in Nigeria’s rapidly growing
music industry. Mr Michael Kay Kiladejo, Managing Partner of Music World International, and CEO of Track Record Entertainment LTD, UK, expressed optimism in the African music landscape and cited reasons for investing in MePlaylistTM. In his words “We are very confident in the technical capabilities and expansion strategies for MePlaylistTM to deliver world-class service to music lovers in Africa and beyond. To this end, it is a timely move to be able to facilitate the availability of the iconic Music World catalogue on the MePlaylist platform, and
simultaneously take advantage of access to the dynamic new market it
offers to artists on the Track Record Entertainment label.”
MePlaylistTM Founder Olakunle Oladehin believes that everyone will find their favourite kind of music on the app and anticipates that pre-launch subscription figures will shoot up significantly in the
coming days as more Nigerians experience the seamless features of the
MePlaylistTM app. "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".
Legal and Transaction advisory services for the MePlaylistTM
project was provided by leading Entertainment Law Firm in Nigeria, RBMM
Solicitors. According to Demilade Olaosun, the Lead Solicitor at the
Firm, it was a privilege working with the MePlaylistTM
Management Team to iron out critical equity acquisition terms between
the Company and Mr Mathew Knowles and his team. Olaosun strongly
believes the African Entertainment industry stands to gain a lot from
this strategic collaboration and he is excited about the prospects of
MePlaylistTM in shaping music consumption in Africa and across the world.
About MePlaylist:
MePlaylistTM (https://www.MePlaylist.com/) is a subscription and ads based On-Demand music streaming application,
creating an intuitive and unique media to access unlimited music. The
app collects data about user tastes and preferences to create
custom-curated playlists in the app for users to listen to. MePlaylistTM is available on the Google Play Store and all Web Browser services and
is home to an entire streaming catalogue of new music, curated
playlists, music and more.
For more information visit https://www.MePlaylist.com/
Twitter: @meplaylist
Facebook: Meplaylist (https://bit.ly/3bFbxy5)
LinkedIn: Meplaylist (https://bit.ly/2QWfBSt)
Instagram: Meplaylist (https://bit.ly/2UvFsTH)
About Music World Entertainment Corporation:
Music World Entertainment Corporation has expanded and diversified over
the last two decades into one of the world’s leading music and
entertainment conglomerates, with record sales exceeding 300 million
worldwide. Under Music World Artist Management, Destiny’s Child became a global phenomenon and was named the Best Selling Female Group of All
Time in popular music, as well as Billboards Top Ten Best Selling Artist of the Decade, selling over 100 million records and collecting nearly
200 awards globally.
Its founder Mathew Knowles, MBA, PhD, is a public speaker, #1
best-selling author and a university professor currently teaching at
Prairie View A&M. Under his leadership, Music World Entertainment
Corporation catalogue label boasts major names like Chaka Khan, Kool
& The Gang, The O’Jays, Solange, Michelle Williams and countless
others. For more information visit www.MathewKnowles.com
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