At the conference "Media Business and Music in Africa"
held at the French Institute in Togo, Olivier Laouchez, CEO of the Trace Group, shared his experience and vision of the media and music industry in Africa.
Here is a transcript of the main excerpts from his speech
Threats and opportunities related to digital technology
There is a general consensus that Africa is brimming with musical talent, even though the continent accounts for only 0.73% of the global music business. As a media outlet, how can we develop sustainable economic models that promote and export African music both locally and internationally?
In Africa, as in the rest of the world, the digital revolution has completely transformed the media world, as well as the music industry. Beyond the emergence of new modes of consumption, such as the development of music streaming platforms, the environment in which media outlets such as the Trace group must evolve their business is extremely competitive, marked by the presence of giants such as GAFA, which are gradually taking over the digital media universe. In Africa, the music industry, which is still struggling to establish itself, must also face the challenges of digital technology.
However, digital technology also offers a wealth of opportunities. It is now easier to bring music to an artist's audience thanks to Web 2.0 channels.
Value creation and copyright
With the development of new music streaming platforms, the issue of artist remuneration and value creation has become crucial. Marketing resources must now be put in place to generate digital traffic, develop the artist's visibility and thereby generate revenue, ensuring a fair distribution between artists and platforms. On the continent, the professionalization of the music industry will only be possible if it benefits all stakeholders.
For Olivier Laouchez, making a living from music and talent in Africa, as in other countries around the world, is very complicated today. In his view, artists must not only develop their creative skills but also think of themselves as a "package." The world in which an artist must evolve is much more complex today and must include several qualities and dimensions: from the stage to social media, including the development of relationships with brands. Digital technology, although it is a game changer, is also a source of opportunity in that it is a gateway to the whole world.
The CEO of the Trace group took the opportunity to announce various projects currently in progress. First, the signing of a partnership with Canal+ for the creation of new channels such as Trace Afrique Aura, and the upcoming creation of a channel dedicated to Afro-urban hits from the 1990s and 2000s, aimed at an older audience.
Finally, Olivier Laouchez intends to develop an FM radio project similar to those in Côte d'Ivoire and the DRC.
Check out: Interview with Olivier Laouchez, founder of Trace