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Here are the homegrown competitors facing Spotify in Africa


March 4, 2021
Spotify is expanding to 40 more African countries. The audio streaming service is trying  to tap into the growth opportunity presented by the continent, following its initial entry into South Africa, Morocco, Egypt, Algeria, and Tunisia in 2018. In total, Spotify is entering 86 new markets in different parts of the world, to help “ensure that sounds and stories that once remained local can reach a global audience,” the company says.
Spotify joins a growing list of foreign audio streaming services in Africa, including Apple Music, which also expanded to more countries last year. The continent has opportunities in the availability of cheaper smartphones, expanding internet connectivity, faster internet speeds, an increasing array of connected devices, and an expected population boom. Revenue in music streaming in Africa is expected to grow to $493 million by 2025. ....

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Square buys majority of Tidal, adds Jay Z to its board in bid to shake up the artist economy

This morning Square, a fintech company that serves both individuals and companies, announced that it has purchased a majority stake in Tidal, a music streaming service. The deal, worth some $297 million, will allow artist-partners to keep their ownership in the music company. Square CEO Jack Dorsey used his other company, Twitter, this morning to explain the deal. ....

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