West Music Corporation (WMC), a leading global entertainment company, is making significant strides in the Nigerian entertainment industry with its music investment and content acquisition deals.
This move is part of WMC’s broader strategy to expand its global presence into Africa’s booming music market, marking a crucial step in establishing Nigeria and Ghana as a central hub for its African operations.
At the heart of this mission is WMC’s legal advisor and business consultant, Omowunmi Oladipupo, who spearheaded the negotiations and facilitated the acquisition of music copyrights for the company and its subsidiary, Wahoo Music Entertainment.
“West Music and its subsidiary companies plan to work with artistes in Nigeria and other West African countries to support them with music production costs. We plan to share the publishing and distribution of copyright in these projects, as well as the licencing and marketing of master recordings of classic content.
“We have signed content acquisition contracts with artists like Young Twelve and also licencing and marketing service agreements, which will help us commercialise these creative assets. These contracts are vital to WMC’s investment plans in Africa, facilitating smooth collaborations among artists, producers, and industry players,” Oladipupo stated.
“WMC’s leadership is confident that this expansion will deliver considerable advantage to both the company and the Nigerian entertainment industry. “Nigeria has a rich and vibrant entertainment industry, and we are excited to contribute to its growth by creating more opportunities for local artists, producers and collaborators.
“Our goal is to build long-term partnerships that will strengthen the music industry and promote African talent on a global scale. So far, we have done deals worth over $500,000 and looking to do more as the company is expanding business to major countries in Africa. The company is also looking to collaborate with record labels, and we are already in partnership talks with major record labels like Hypertek, Chocolate City, and Fierce Nation,” said Wang Meiqi, MD of West Music Corporation.
Steve XU, CFO of West Music, further emphasised the importance of this move: “By acquiring and commercialising music catalogues, we’ve opened up new revenue streams for these Nigerian artists through effective licensing and royalty management. The contracts we’ve negotiated have already facilitated cross-border collaborations with international artists and record labels. This goal is to help our partners gain global relevance in the music industry and drive foreign investment into the Nigerian entertainment industry.”
Nigeria’s Ministry of Industry, Trade, and Investment has lauded WMC’s investment as a major economic boost for the country. “This move by West Music Corporation is a positive development for Nigeria’s creative economy. It not only brings in foreign investment but also strengthens our cultural exports,” said Mr. Mohammed Bala, Director of Industrial Development at the Ministry. “We see this as a model for other international companies looking to expand into Africa’s growing entertainment sector.”
In support of this investment, a senior official from the Ministry of Art, Culture, and the Creative Economy, Dr Nneka Anibeze, also commented: “West Music Corporation’s partnership in the creative industry aligns with a crucial component of the Destination 2030 vision and one of the ministry’s ambitious goals for the creative economy, which is to position Nigeria as a major player in the global digital economy. Their investment in intellectual property and digital asset protection is crucial for sustainable growth in the entertainment sector. This will encourage more foreign direct investment in the creative sector, which in turn will drive job creation and boost economic development.”
Anibeze emphasised the critical role of global partnerships in driving the country’s vision forward, stating that Destination 2030: ‘Nigeria Everywhere’, is the Ministry’s roadmap to transforming Nigeria into a global cultural powerhouse and called on more stakeholders to invest in the vision.
“To fully realise this vision, I urge investors, development partners, and global collaborators to join us in creating 2 million jobs and contributing $100 billion to the national GDP.”
As West Music Corporation continues its strategic expansion into Nigeria, its focus on intellectual property protection and cross-border collaborations is set to elevate the local music industry while positioning the country as a central player in Africa’s entertainment market.
West Music Corporation is a company engaged in digital music asset investment and management, music content acquisition, music licencing and distribution, and record label investment. The company and its subsidiaries have an outstanding track record in industry consolidation and capitalisation in music & entertainment sectors in Asia, well-connected global industry resources, and have successfully built up the world’s largest digital music & entertainment group with a $30 billion market cap.
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