Music In Africa to co-host discussion on Kenyan industry financial potential

PwC further notes that consumer spending on live music events in Kenya is set to grow over the next five years but notes that live music is the smallest of the three music sectors and by 2017 will only account for 10% of music revenues in the country. Recent developments in the Kenyan music industry nevertheless prove that that there is untapped potential for the music industry. The countrywide album tour by the popular band Sauti Sol is said to have employed more than 100 people. Though the tour was held over a period of two months the contribution of such ventures to the Kenyan economy cannot be ignored.

The panel

Industry leaders including Mike Strano of Phat! Music and Entertainment, Muthoni Ndonga an artist and live events organizer, music producer and a digital distributor founder Tim Rimbui will be joined by creative economy expert George Gachara to discuss the challenges and opportunities available for operators in the music industry. The session will be moderated by arts and culture journalist Bill Odidi.

For 15 years Mike Strano has continually explored the music business in Kenya. Since moving to Kenya in 1998, Mike has built one of Kenya’s well known music business Phat Music and Entertainment limited. To date his company has expanded to include six units that cater for the various music business needs in Kenya. Through Phat! Publishing Mike has managed copyright related issues for South Africa’s Sheer Publishing Africa.

Sharing her views as an artist and entrepreneur will be Muthoni founded Blankets and Wine as a monthly platform to showcase the emerging and outstanding bands from across Africa. Blankets & Wine has grown into the most useful platform for live music in East Africa and is currently in Kenya and Uganda.

On the technology front music producer and founder of online music distribution platform Waabeh will be Tim Rimbui. With the 2015 IFPI report showing that digital sales had overtaken physical record sales, Tim will provide insights on the digital distribution within Kenya. In 2012 Tim founded Waabeh a digital platform aimed at solving the problem of discovery and distribution of music in Africa.

While the discussion will be focused on the business side, George Gachara will share insights on the state of the creative economy in Kenya. As a managing partner at HEVA fund he will be be able to enlighten aspiring music business entrepreneurs on what elements investors look for in a business. His involvement in the policy formulation for various creative industries in the country will also come in handy.

Lack of information

Even though conservative estimates show that the economic worth of the music recording industry in Kenya at about KES11.52 billion per annum (about $113million), there is no institution that is purely focused on collecting vital information on Kenya’s music industry. Lack of critical data is a factor that hampers the growth of the industry.

The forum will also be an opportune moment for stakeholders to see how better the country has worked to achieve the 2011 Creative Industry Taskforce aim of creating a 10%employment for the creative sector by 2017.

While the Industry shows signs of potential, the unfavourable environment in which musicians operate (lack of incentives), combined with an incomprehensive support structure and policy framework make it virtually impossible for musicians, producers and other stakeholders to develop a competitive music industry.

The discussion will start at 6:00pm. It is free and open to everyone. Any inquiries can be emailed to [email protected].