The news about Spotify debuting in Nigeria and about 80 other new markets across Africa, the Caribbean, Asia, Europe, and Latin America is one of the most exciting on the internet right now.
In Nigeria, the reaction hasn’t been different as many music streamers and just-onboarded users took to their social media platforms to express their excitement.
Although the latest development is no news for some Nigerian users who may have found a way around using the app via other means, especially with VPN; However, one will agree that this new development is long overdue.
While Nigeria and 40 other African countries, including Kenya and Ghana, just got access to Spotify services, other countries like South Africa, Morocco, Egypt, Algeria and Tunisia have had access to the platform.
Giving the new addition, the global music streaming pioneer will now boast of establishment in no fewer than 180 markets.
By far, Spotify is the biggest music streaming service globally, with over 144 million subscribers as of Q3, 2020.
Therefore, the latest move marks the company’s biggest expansion since its inception, making the music streaming service accessible to more than half of the global population.
Not just that, the service will be adding at least 36 new languages to its existing 24, bringing the total to 60 across its new and existing markets.
Spotify will tailor its services to suit the new markets
To offer seamless and personalized services for its users across its new markets, Spotify will reportedly take into consideration the feedback it gets upon the initial release in the respective markets.
As such, the music streaming service will introduce new features and upgrade its podcast catalogue such that it is tailored specifically for each market.
Recall that the company, in 2018, added some new features specifically for emerging markets.
Things like a free mobile subscription plan and initial access to on-demand songs were strictly made available for paid subscribers only.
Currently, there is no hint on what new feature will be added to the app for Nigerians; however, it is easy to guess that the feature will make the app even more personalized.
What to Expect from Nigeria Music Streaming Services Amidst Stiff Competition
Spotify’s entrance into Nigeria’s music streaming market – although an anticipated one – may not necessarily be a smooth race as already opined by many.
Undoubtedly, the Swedish music streaming service appears to be the “perfect order” for many; however, it is coming to join and compete with other existing global streaming platforms like Audiomack, YouTube Music, Apple Music, and Deezer.
Similarly, indigenous-based apps like Boomplay and MTN’s MusicTime, which have gained a considerable fan base in recent times, will also pull a tough one on the Swedish app.
Regardless, just like the popular saying goes – “survival of the fittest” – the battle for dominance in Nigeria’s music streaming service has only begun.
In the light of the above, the forgoing part of this article will highlight some of our expectations in the industry moving forward:
Currently, Nigeria’s music streaming industry represents a highly competitive bottleneck for both global and indigenous music streaming services.
While the aggressive competition has been ongoing for a long time now, Spotify will only result in a further stiffened market for all participants.
In order to stand tall above the competition, all the brands involved will start applying a variety of strategic approaches in an attempt to retain their audience while seeking to poach from other competitors’ userbases.
Of course, where all users are offered the same varieties of products, poaching might seem impossible.
However, the narrative could change if music streaming starts signing exclusive contracts with musicians or content creators in general.
Recall that this kind of activity is not new to either YouTube and Spotify; as the former signed an exclusive live-streaming deal with PewDiePie.
Although this might look like a difficult stunt to pull in a country like Nigeria; however, it is nothing impossible to achieve.
If such happens in the near future; remember we said it here first.
Competitive subscription rate
Nigerians are one set of impossible people to bait into subscribing for such services as listening or streaming music; it is one thing to buy data, and subscribing is an entirely different ball game.
Anyways, this is one area that is set to experience a lot of re-evaluation moving forward in the Nigeria music streaming industry.
We believe that the best way for most streaming services to attract their customers regardless of the subscription is to offer a service.
Yes! subscription can be attached to premium offerings like YouTube, Boomplay and others that are already practicing.
Also, even while asking users to subscribe for premium offerings, it is essential to put the “Nigeria factor” into consideration, as not so many people will be willing to pay “SO MUCH” after all.
With the above likelihood, the subscription rate for music streaming services might drop drastically, especially for platforms that care about userbase over premium content.
In the long run, the former is what really matters!
Fixed subscription rate – ‘No more Dollars to Naira conversion’
This majorly applies to Spotify who is just setting foot in the Nigeria music streaming industry.
While Nigerians still had to boycott regional restrictions with the help of VPN in order to use Spotify, they still faced other constraints such as exchange rate.
Of course, most Nigerians are not alien to the negative impact of the Dollar-Naira exchange rate and how it can put a strain on one’s finances.
However, coming into the country also means that Spotify will offer its subscription services in Naira, so users can pay a fixed amount going forward.
Need to overhaul or revamp mobile app
One major selling point for Spotify is the simple yet interesting app interface; this is one thing that has attracted many users to the platform over the years.
Although there are a number of indigenous apps that may have passed in this aspect as well, others may have to spice up their user interface if they truly mean business.
Really, the first impression matters a lot. So yes!
If you start seeing a lot of revamping taking place on most of these apps, remember we said it here first.
More opportunity for content creators
Although, this does not necessarily mean a win for individual creators – musicians and podcast creators; however, it is something that could pay off if well optimized.
With Spotify joining the league, creators in Nigeria will have more unrestricted avenues to reach out to their fan base; raking in more coins while at that.
While we await most of these predictions to play out in the near future.
Kindly suggest – in the comment section below – other possible scenarios that will play out in the industry moving forward.