By Edwin Madu
Mr Eazi’s music is synonymous with relaxed vibes, alté music, and contemporary African sounds. In July 2020, the Afropop star launched a $20 million African Music Fund dedicated to financing African creatives.
During a Future Africa event, which was held on Thursday, Jan 19, Mr Eazi sat down with Eche Emole, founder of the Afropolitan Group. He spoke about the many ways in which technology and music could work together.
Mr Eazi likened artists to startups and labels to VCs. By his estimates, major music labels control about 60% of the Intellectual Property (IP) space outside of Africa. But within the continent, these labels control only about 2%. This suggests that many African artists are largely independent where creation is concerned and just need financing for things like branding and marketing.
He believes that investors need to realize that there are upsides to investing in Africa’s music space. With many African artists gaining popularity across the world and making reasonable revenue, this revenue can be a basis for investing in said acts.
On Dec 9, 2020, Mr Eazi put out a tweet alluding to a system to allow fans to own equity in his music.