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How Technology Disrupted the Music Industry: Insights from Chocolate City Music's CEO
In the rapidly evolving world of music, the influence of technology cannot be overstated. For Abuchi Peter Ugwu, CEO of Chocolate City Music, the last decade has witnessed not merely a transformation in sound but a radical shift brought about by digital innovations. Ugwu, who has navigated the music scene for over two decades, emphasizes that the essence of creating and distributing music has fundamentally changed, primarily due to the rise of platforms like TikTok and Spotify.
The Rise of Virality: A Double-Edged Sword
Virality has become a pivotal component in the music industry, with social media allowing songs to reach global audiences almost instantaneously. Ugwu cites the example of CKay’s 'Love Nwantiti,' a track that achieved extraordinary success partly due to its virality. “A simple tweet can spark a global record,” he explains, indicating how technology functions as a great equalizer in the industry. However, this rapid spread does not equate to financial reward. Ugwu warns that merely chasing TikTok fame without a structured approach leads to lost opportunities in the streaming economy.
Streaming: The Economy of Access, Not Sales
Ugwu points out the challenges artists face in monetizing their music in a new economy where streams from platforms like Spotify yield far less value than in Western markets. “A million Nigerian streams amount to less than a sixth of that in the UK,” he states, emphasizing the need for artists to adopt robust strategies rather than relying solely on virality.
AI in Music: A Tool, Not a Replacement
As technologies like AI become integrated into the music business, Ugwu remains cautious. While Chocolate City Music embraces AI for marketing and CRM, he firmly asserts that the human element in music creation is irreplaceable. “Once you take away the human element, you strip music of its essence,” he emphasizes. This perspective highlights a crucial aspect of the digital transformation in music—balancing innovation with human creativity.
Adapting to Change: The Future of Music
The lessons from Ugwu are clear for tech entrepreneurs and innovators in Africa. Adapting to the digital landscape while keeping creativity at the forefront is essential for the sustainable growth of the music industry. The insights gained from the transformation of music can serve as a blueprint for other sectors, underscoring the importance of leveraging technology responsibly while cultivating the unique cultural narratives that drive them.
As music leaders like Ugwu navigate this complex landscape, they pave the way for the next generation of creators and entrepreneurs in Africa. In a time when digital transformation is paramount, it invites investors and stakeholders to explore the potential of merging technology and artistic expression for a brighter future.
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