Mr. Eazi, has raised $20 million for his Africa Music Fund to invest in the careers of African music talents. Mr. Eazi says one of his primary motivations for funding music is to provide financial support for artists to expand their catalog.
The way it would work is: artists, who already have a foothold in the continent, are expected to join the platform, and their data would be gathered to see how much they are fully earning from music streams. Upfront payments would be made on the revenue for the artists, which gives them more capital to expand their creativity. The upfront payments would be paid back in installments by the artists as the investments on their earnings rise.
This is so amazing because AMF would enable African creatives to have access to a larger audience through streaming platforms and technology, which will enable them have access to festivals and shows for their music.
He announced that the AMF will partner with Vydia, a music technology company, and both will launch a music distribution platform called Cinch Distro. The platform would help upcoming creative upload their songs for 500 Naira.
We honestly can’t help but stan Mr. Eazi, he is out there constantly outdoing himself and helping young upcoming talents. A big shout out to you Mr. Eazi, keep doing the good work!
By: Dammy Eneli