Entertainment
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.
Entertainment
Adetshina addresses identity theft claim, says she earned Miss Universe Nigeria win
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Chidimma Adetshina, the recently crowned Miss Universe Nigeria, has finally addressed the claims of identity theft in South Africa.
Chidimma was born in 2001 in Soweto at Chris Hani Baragwanath Hospital. Her father is of Igbo descent while some reports said her mother is a Mozambican who had become a naturalized citizen of South Africa.
The model sparked controversy during this year’s Miss South Africa pageant due to her nationality.
This led to a surge of criticism on social media, particularly from South Africans. Chidimma would later withdraw from the Miss South Africa contest.
Her withdrawal came after the Department of Home Affairs (DHA) for South Africa alleged that preliminary evidence suggests Chidimma’s mother may have committed fraud and identity theft.
Speaking on the matter in an Arise TV interview, the 23-year-old denied any wrongdoing, saying “I didn’t steal anyone’s identity”.
The young woman, however, declined to elaborate, citing ongoing investigations and concerns about potential contradictions.
“I did not steal anyone’s identity. Obviously I am still waiting on the conclusion of the whole case and matter, then moving forward, I will know exactly what to say,” she said.
“Because I feel like now if I say something and something comes out tomorrow, it could be like but you said this then something else. I am just avoiding all those two things contradicting one another.”
On August 14, the model accepted the invitation to participate in this year’s Miss Universe Nigeria pageant. She was recently crowned winner of the pageant.
Speaking on her victory, Chidimma also dismissed insinuations that she won the Miss Universe Nigeria pageant “out of pity”.
She argued that she went through the same rigorous experience as all contestants, adding that “I worked hard to earn my title”.
“A lot of people felt like it was a pity win and I do not think so. I feel like I really worked hard. Coming from the SA journey, we spent 10 weeks in camp,” she said.
“It might have been a slight difference but I feel like, if we have to look at the journey that we have all been through, I feel like I had the same experience that they did.”
Entertainment
Yemi Shodimu fumes after buying petrol at N1k per litre
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Yemi Shodimu, the ace actor, has expressed frustration over the ongoing petrol scarcity and price hike in Nigeria.
In a video shared on TikTok, Shodimu sang a re-composed song, thanking God for being able to buy 30 litres of petrol at N30,000.
The actor also asked if Nigerians are okay with the situation.
“I thank God I was able to buy fuel. I thank God I was able to get fuel. N30, 000 for 30 litres,” he sings.
“Are we seriously okay?”
Shodimu’s outburst follows the significant increase in petrol prices after President Bola Tinubu scrapped subsidies in 2023.
The official pump price had previously been N600/litre while the landing cost exceeded N1,200.
Entertainment
Skales calls out Green Africa Airline over N15 million loss due to flight cancellation
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Nigerian singer Skales lost ₦15 million after his flight to Akure was canceled due to the pilot’s illness.
Skales shared his frustration in a video, criticizing the airline, Green Africa, for last-minute communication and poor service. His experience highlights ongoing concerns about airline reliability in Nigeria.
Singer Skales expressed his frustration after an Akure-bound flight was canceled due to the pilot’s illness. In a video shared on social media, Skales confronted airline officials, revealing that the cancellation caused him to lose ₦15 million from a deal.
He criticized the airline, Green Africa, for poor communication and disrespect, questioning why they waited until the last minute to inform passengers of the issue.
Skales emphasized the financial loss, stating he had been paid ₦15 million for the event he was meant to attend. His outburst reflects growing dissatisfaction with airline services in Nigeria.
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