Log in
Show password
Forgot password ?
Become a member for free
Sign up
Sign up
New member
Sign up for FREE
New customer
Discover our services
Dynamic quotes 
News: Latest News
Latest NewsCompaniesMarketsEconomy & ForexCommoditiesInterest RatesBusiness LeadersFinance Pro.CalendarSectors 
All NewsEconomyCurrencies & ForexEconomic EventsCryptocurrenciesCybersecurityPress Releases

Spotify targets Africa for music streaming growth

10/15/2021 | 10:17am EST

Spotify reckons Africa could be the next big market for music streaming.

It's crucial to the Swedish app's goal of a billion users.

The problem is how to handle payments on a continent where many people don't have bank accounts.

Mobile phone companies may have the answer.

In Kenya, Spotify has teamed up with mobile payments app M-Pesa, owned by local network Safaricom.

Phiona Okumu is Spotify's head of music in sub-saharan Africa:

"Some parts of Africa, a lot of African countries are unbanked so that means they don't use credit cards and this is very true of a lot of East Africa. In Kenya, you use M-Pesa for the most part. So we ensured to make sure that there was that facility so that the fans don't have so many barriers to access to the music which is something we should all be able to enjoy."

Spotify isn't alone in teaming up with phone networks.

African rivals such as Nigeria's Boomplay are making similar moves.

Content creators seem to welcome the arrival of the streaming firms.

Charles Otieno is a music producer in Kenya:

"So when it came to Kenya now we can access 'Spotify for Artists', you can see the logs, you can see how your music is basically growing."

The new products see phone firms selling music bundles that give subscribers access to streaming firms' content.

That should boost revenue for performers, and subscriber numbers for the streamers.

ę Reuters 2021
Latest news "Economy & Forex"
06:22aExplainer-U.S. gasoline prices could fall below $3 if oil market sustains losses
06:22aHigh COVID case count, Omicron prompt S.Korea not to relax curbs
06:05aOil rebounds to $76 on speculation Omicron-related drop overdone
06:01aFTSE Rebounds, Pound Seen as Vulnerable to Omicron Variant
05:49aIndian shares close higher as Reliance, Kotak Mahindra Bank gain
05:48aGerman inflation to jump beyond 5% in November, states data suggest
05:46aGold firms as Omicron risks buoy safe-haven appeal
05:42aCouple caught fleeing Dutch COVID-19 quarantine moved to "forced isolation"
05:41aIndia's parliament passes bill to repeal controversial farm laws
05:37aKremlin warns against U.S. pressure over Nord Stream 2 certification
Latest news "Economy & Forex"