Muyiwa Awoniyi, manager to Grammy-winning singer Tems, is raising eyebrows with a candid revelation about the financial realities behind music streaming in Nigeria.
Speaking on the popular Afrobeats Intelligence podcast, Awoniyi shed light on the vast earnings gap between music streamed in Nigeria versus more affluent markets like Sweden, the birthplace of Spotify.
According to him, one million streams in Nigeria generate a meager $300, while the same number of plays in Sweden can rake in $8,000 to $10,000. The reason? Territorial pricing and a struggling local economy.
“Do you know how much a million streams is worth out of Nigeria? It’s $300,” Awoniyi stated. “It is N900 to subscribe to Spotify, and Spotify treats things territorially.”
Awoniyi emphasized that this economic reality significantly impacts artists whose main audience resides in Nigeria. Citing past experience with singer Nonso Amadi, he noted that the low revenue potential was something he recognized early in his career.
He also highlighted the irony that Sweden, with far fewer people than Nigeria, yields drastically higher returns for artists due to stronger economies and higher subscription rates.
This sentiment echoes recent advice from Afro-fusion superstar Burna Boy, who cautioned Nigerian artists against relying solely on local streams for income. Burna Boy has previously dismissed topping Nigerian streaming charts as a hollow milestone, urging fellow musicians to think globally.
Awoniyi, the founder of BSB Management Agency, is a respected figure in the Afrobeats scene. His management portfolio includes rising stars like Tems, Omah Lay, and Nonso Amadi — all of whom have gained international attention.
