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Nigerian artists face uncertainty as Universal Music slower streaming growth

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Universal Music Group, the leading music label backing Don Jazzy’s Mavin Records, has seen its shares drop over 20% amid intense competition in the streaming market.

The Netherlands-based Universal Music Group (UMG), representing top artists such as Taylor Swift, Drake, Justin Bieber, and Adele, experienced this significant decline shortly after the market opened on Thursday.

This drop followed the company’s below expectation results in its streaming and subscription businesses.

On the earnings call, UMG Vice President and CFO Boyd Muir attributed the year-over-year slowdown in subscription growth to “the timing of price increases” from its partners. UMG’s partners, including Spotify, Amazon Music, and Apple Music, have raised prices in recent years, which has helped UMG generate additional revenue from its subscription business.

“The other factor impacting our subscription revenue growth this quarter is the slowdown in subscriber growth at certain platforms, which is occurring while the overall subscription marketplace continues to experience significant growth in subscribers globally,” Muir added. “While Spotify, YouTube, and many regional and local platforms have continued to exhibit healthy growth in subscribers, other large partners who have been less successful in driving global adoption have seen a slowdown in new subscriber additions.”

The executive did not specifically call out which platforms were seeing a downtick in subscribers but did say the company is “engaged with all of our key partners” in dialogue regarding product innovation.

Earlier this year, UMG implemented a restructuring plan aimed at generating €250 million in annual savings by 2026, which included job cuts.

Deals with social media platforms have become problematic for Universal Music Group (UMG) in recent months. In May, UMG ended its partnership with Meta Platforms (META), which was licensing premium music videos for Facebook. Management stated that the offering “was less popular with Facebook’s user base than other music products.”

UMG recently acquired a majority stake in Mavin Global Limited (Holdco), founded by Don Jazzy, to enhance its full-service offering in Nigeria through UMG’s global network. Mavin is currently distributed internationally through Virgin Music Group.

Its artists, including Rema and Ayra Starr, are already well integrated into UMG’s network, with signings across U.S. labels such as Republic and Interscope.

Mavin’s roster features notable artists like Ayra Starr, Ladipoe, Johnny Drille, Crayon, Magixx, Bayanni, Boy Spyce, DJ Big N, Lifesize Teddy, and Rema.

Rema’s hit single “Calm Down” [featuring Selena Gomez] reached No.3 on the U.S. Billboard Hot 100, becoming the biggest Afrobeats song of all time and the most viewed video by an African artist on YouTube, as well as the first African artist-led track to surpass 1 billion Spotify streams.

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Seaking, TikToker charged with treason for insulting Tinubu, gets bail

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A magistrate’s court in Ogba, Lagos has granted N500,000 bail to the TikToker Seaking with two sureties in like amount.

The bail comes after Seaking, born Olumide Ogunsanwo, was arrested on Saturday.

Seaking recently shared a video on social media wherein he appeared to have insulted President Bola Tinubu, Babajide-Sanwo-Olu, Lagos governor; and Kayode Egbetokun, the inspector general of police.

During sitting on Monday, the court ruled that one of the sureties must be a family member, and both must reside in Lagos and be gainfully employed.

Inibehe Effiong, SeaKing’s lawyer, had revealed that the police initially denied him access to the detainee at the state police command in Ikeja.

https://twitter.com/InibeheEffiong/status/1871227032790864076?ref_src=twsrc%5Etfw%7Ctwcamp%5Etweetembed%7Ctwterm%5E1871227032790864076%7Ctwgr%5E34a8f709f4733d748f4dc2ab4276cb07fbac408f%7Ctwcon%5Es1_&ref_url=https%3A%2F%2Flifestyle.thecable.ng%2Fseaking-tiktoker-charged-with-treason-for-insulting-tinubu-gets-bail%2F

The lawyer said he, a colleague, and Seaking’s wife — who brought their six-month-old baby — were barred from seeing SeaKing.

He said while waiting to meet with the police commissioner, Seaking was “discreetly transferred to the Ogba magistrate’s court for remand proceedings”.

Effiong said his legal team intercepted the move and opposed the police’s application to remand the TikToker for 30 days, citing insufficient grounds for such detention.

He said the TikToker was charged with treason, cyberstalking, and conduct likely to provoke a breach of peace.

“Thankfully, we intercepted the information and proceeded immediately to the court premises where we met Seaking with the police officers,” he wrote on X.

“To our consternation, the Nigeria Police filed a remand application and annexed a charge to it wherein they’re accusing him of treason, cyberstalking, conduct likely to cause breach of peace and provoking breach of peace.

“They are claiming that he called on Nigerian Youths to “wage war” against the police. We opposed the application for remand on multiple grounds, while urging the court to refuse the application to remand him for 30 days pending DPP advice.

“We applied that he should be admitted to bail in line with the provisions of Section 264 (5) of the Administration of Criminal Justice Law of Lagos State. The court considered arguments from both sides and upheld our position, and held that the police failed to show probable cause why he should be remanded for 30 days.

“The Learned Magistrate accordingly admitted Seaking to bail on liberal terms; specifically in the sum of N500,000 with two sureties in like sum, one of the sureties should be his family member and the sureties should be resident in Lagos State and be gainfully employed.”

The case has been adjourned to January 16, 2025, for advice from the directorate of public prosecutions (DPP).

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Court orders IGP to arraign or release Speed Darlington within 48 hours

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A federal high court in Abuja, on Monday, ordered Kayode Egbetokun, the inspector-general of police, to release the detained singer Speed Darlington within 48 hours.

According to NAN, Musa Liman, the judge, gave the order in a ruling on an ex-parte motion moved by David Ihuoma, the singer’s counsel.

Liman ordered the police chief to charge Darlington to court or release him on bail unconditionally within 48 hours.

The judge adjourned the matter until January 6 for the hearing of the substantive case.

The 39-year-old rapper was arrested on November 27 while performing at a show in Owerri, Imo state.

Deji Adeyanju, a human rights lawyer, had alleged that Burna Boy, the Afrofusion star, was responsible for the rapper’s arrest.

Darlington had taunted Burna Boy over his affiliation with the embattled US rapper Sean ‘Diddy’ Combs’ who is facing multiple charges for sexual exploitation and human trafficking.

He asked Burna Boy to explain how he won the Grammy award for his album ‘Twice As Tall’ — a project executive produced by Diddy. He claimed there was a sexual relationship between the duo.

In the ex-parte motion dated and filed on December 13 by his lawyers led by Adeyanju, Egbetokun was the sole respondent.

The lawyers sought “an order directing the applicant’s release from the detention facility of the Force Intelligence Bureau at the Force Headquarters or any other facility where he is being kept by the respondent, pending the determination of the substantive originating motion on notice”.

Stan Alieke, another legal representative of Darlington, on Monday, also revealed that the rapper had been granted bail.

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I had health scare during pregnancy, says Wizkid’s partner Jada P

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Jada Pollock, manager and baby mama to Wizkid, says she suffered a health scare during the first three months of her ongoing pregnancy.

In a post via X on Monday, Jada, who is pregnant with her third child with the singer, shared a photo showing her baby bump.

She disclosed that she had to undergo an appendectomy just three months into her pregnancy.

The talent manager described the situation as the most terrifying experience of her life.

Jada also expressed gratitude for the safety of both herself and her unborn child after the surgery.

“At the beginning of the year, I faced the biggest fright of my life,” she wrote.

“Three months into my pregnancy, I was rushed to the hospital to have my appendix removed. Against all odds, both my baby and I made it through safely.

“Life is too short to be anything but grateful.”

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Bodex F. Hungbo, SPMIIM is a multiple award-winning Nigerian Digital Media Practitioner, Digital Strategist, PR consultant, Brand and Event Expert, Tv Presenter, Tier-A Blogger/Influencer, and a top cobbler in Nigeria.

She has widespread experiences across different professions and skills, which includes experiences in; Marketing, Media, Broadcasting, Brand and Event Management, Administration and Management with prior stints at MTN, NAPIMS-NNPC, GLOBAL FLEET OIL AND GAS, LTV, Silverbird and a host of others

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