Passionate about the world of new information and communication technologies, Ronny KITIO graduated from the University of Yaoundé 1 with a degree in fundamental computer science. He is now the founder of Colorfol.
Colorful was created a few years ago. What are your activities today?
Colorfol was created in 2019 with the aim of providing a solution for the music industry by offering a platform where users can find songs by artists in French-speaking Africa first and foremost, while also offering artists a platform where they can share their music locally.
Colorfol, the Digital Music Store dedicated to French-speaking Africa, aims to transform the music shopping experience. Our user-friendly platform is designed to meet the specific needs of our markets, encouraging fans to buy directly and offering artists instant monetization.
The streaming industry seems to be offering more and more market opportunities for African platforms. How can this boom be explained?
Sub-Saharan Africa recorded exceptional growth in the global recorded music market in 2022, with an increase of 34.7%. It is the only region to have exceeded 30% growth. The music streaming market on the continent generated approximately $500 million in revenue, thanks to the rapid adoption of the internet and smartphones, particularly among the younger population.
This expansion offers new opportunities for artists to make themselves heard and allows fans to easily access songs by their favorite artists. This is due to globalization, the emergence of ICTs, and the digitization of the music industry in Africa.
How can you stand out from the competition, especially when faced with industry giants such as Deezer and Spotify?
Firstly, Colorfol no longer positions itself as a streaming platform, but rather as a music sales platform in Africa. Our initial observation is that African artists, particularly in French-speaking Africa, face difficulties in promoting their music and generating sufficient income. Colorfol provides a solution by enabling artists to sell their music, promote their talent locally, and develop their careers.
Our goal is to create a user-friendly platform that meets the specific needs of our markets in French-speaking Africa. We want to encourage fans to buy music directly from artists, offering them instant monetization. We are committed to ensuring fair remuneration by allocating 70% of revenues to artists.
What are your short- and medium-term goals in terms of users?
In the long term, Colorfol aims to become the leading music sales platform in French-speaking Africa, positioning itself as the market leader.
We have set ambitious targets, aiming to reach 50,000 premium users by the end of 2024, with a projection to double that number by the end of 2025 to reach 100,000 users. At the same time, we are committed to offering 10 million tracks by the end of 2025, thanks to strategic partnerships with local and international artists, as well as distribution companies and independent labels.
We also seek to support artists by offering them an opportunity to sell on our platform, with a target of 100 sales per project by 2025. Our vision is to become the undisputed leader in music sales in French-speaking Africa, offering a quality music experience and supporting local artists.
And today, how many users do you have, and how are they distributed geographically?
Colorfol currently has over 18,200 downloads on iOS and Android platforms. We have a user base of 16,720 people, of whom over 10,000 are active on a regular basis.
We are proud to have more than 3,500 artists registered on our platform, sharing their music. Our music library includes more than 3 million tracks.
Thanks to our partnership with Keyzit, we are able to offer a variety of content from different French-speaking African countries. Among the countries most represented by listeners are Cameroon, Ivory Coast, France, Germany, Canada, and Chad.
What is your business model?
Colorfol's business model is based on several sources of revenue:
Colorfol can generate revenue through advertising. Targeted ads can be shown to users, allowing them to enjoy music for free while generating advertising revenue for the platform.
Colorfol allows artists to sell their music directly to users of the platform. When a user purchases a song or album, a portion of the revenue is paid to the artist, while Colorfol retains a commission.
Colorfol offers a paid premium subscription that provides users with benefits such as unlimited music streaming, the ability to download tracks, and access to exclusive content. Revenue from subscriptions contributes to the growth and development of the platform.
You have been named the winner of the 2023 AFD Digital Challenge. What does this mean to you?
AFD has given us the opportunity to redefine ourselves. With the support of experts, we have a new positioning that makes us unique, and with the support of Orange's services, we want to create a new experience for artists and music lovers so that artists can make a living from their art.