Warner Music Group has completely acquired Africori, a prominent African -centered music distribution, music rights management, and artist development company.
Founded in 2009, AFRICORI is proud to claim to be “one of the largest independent song books in Africa,” including music such as Kelvin Momo, Master KG, NKosazana daughter, OSCAR MBO and Titom & Yuppe. The company represents more than 7,000 artists.
WMG invested in Africa in Johannesburg in 2020. Warner said that this agreement was able to access retailers’ catalogs and A & R networks, and for the first time, we had to establish a position in many African markets.
Warner acquired a number of shares in Africari as part of a contract that was completely acquired this month in 2022.
WMG said today (February 11) will continue to operate as a standalone reality. Joel Kennon Temi Adeniji, managing director of Warner Music Africa, will remain as CEO.
In addition, according to the press release, the company has “adjusted the system” so that African artists and songs can be upstreamed into a global Warner music network.
WMG said in a partnership with Africori that the first global success came from the 2020 hit of Master KG. Jerusa, It’s over 435 million Spotify alone stream.
Other success is the 5th Platinum status of the South African Republic of Titom & YuPee ‘. Tshwala bamAnd with the debut album of Wanitwa MOS and Nkosazana daughter MakhelWaneCreated 100 million free release streams.
Africori’s CEO, Yoel Kenan, said today’s news: “We have partnered with Temi Adeniji and Warner Music for several years.”
“The Africori team is looking forward to cooperating with the entire Warner Music family when discovering, developing and developing next -generation talent throughout the continent.”
Yoel kenan, African
Kenan added: “Our shared vision to connect African music with fans around the world from the beginning of the venture was clear.
“The Africori team is looking forward to working with the entire Warner Music Family when discovering, developing and developing next -generation talent throughout the continent.”
“For the past four years, we have shown that proper investment, synergy effects and cooperation have created value to artists, but Warner music helps to revitalize and foster local partners’ entrepreneurship.”
TEMI ADENIJI, Warner Music Africa
Temi Adeniji, managing director of Warner Music Africa, added: “Today is a groundbreaking moment in Africa’s evolution.
“For the past four years, we have shown that proper investment, synergy effects and cooperation have created value to artists, but Warner Music has helped to vitalize and foster local partners’ entrepreneurship.
“We raised Africori artists and connected them to the global network to provide international remixes and trend -oriented cross -cooperation to help increase career.”
Warner Music Group began in October from other places in Africa. WM Africa Franco Phone (WMAFR) operates in sub -Saharan Africa, which speaks of France and French.
WMAFR is a cooperation between Warner Music Africa, Warner Music France and Africori.
According to the IFPI, sub -Saharan Africa was the fastest growing music area in 2023. (It was also the fastest growing music area in 2022.)
The recorded music revenue of sub -Saharan Africa has grown. 24.7% 2023, A 24.5% Increased paid streaming revenue.
South Africa was the largest market in this area 19.9% yoy 2023.
In other places in Africori, the artists of the company ranked first in the South African radiation monitor chart for 11 consecutive weeks. Sdakiwe SBALI,,, ndsizeand vuka.
Africori Distributed Track ranked 50%of the top 10 BMAT and ranked 6th in the Apple Music South Africa chart over last weekend.
In the WMG Calendar Q2224 earnings call last week, Robert Kyncl CEO mentioned the company’s “partnership with a local player” as a part of continuous efforts to increase market share worldwide.
The world’s other recent transactions, which have been hit by local players and WMGs worldwide, include: A minority stake in the skill box of India The argument of Indie Label Cloud 9 in Benelux. WMG recently acquired a minority stake at SUA MúSica, a Brazil -based UGC music platform and distributor.World music business