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Music Business in Nigeria : MTN Pockets 80 Million Dollars in Revenue from Ringback Tones in Nigeria

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Music Business in Nigeria : MTN Pockets 80 Million Dollars in Revenue from Ringback Tones in Nigeria

MTN-Ringback-Tones-in-Nigeria

With the depleted of album sales revenue in the 21st century has led several labels and artists stick to the emergency of ring-back tone income initiatives by telcos companies.

Music Business in Nigeria is very interesting because artists, record labels, and telecom companies are raking in millions.

Ring-back tones are a great source of revenue for telecommunications operators in Nigeria. This year alone, South African telecommunications giant MTN anticipates $70-80 million in revenue, a 50% growth.

“When you call a Nigerian number, there’s a good chance you’ll hear music playing. Ringback tones cost just 25 cents a month, but artists, record labels, and telecom companies are raking in millions.”

CNN Money video below reveals more about this lucrative music licensing scheme for the music industry and telecom operators.

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