Casablanca, (ADV) – Vivendi’s Universal Music Group (UMG) will launch a new division in Nigeria as part of efforts by the world’s largest music label to expand into Africa’s most populous nation and the wider region.
The music entertainment group said on Tuesday its new strategic division, Universal Music Nigeria, will operate from Nigeria’s commercial capital Lagos.
Music revenue in Nigeria – mostly derived from sales of mobile phone ringtones – grew 9 percent in 2016, year-on-year, to reach $39 million and is expected to rise to $73 million by 2021, auditing firm Pricewaterhouse Coopers (PwC) said last year.
Universal Music Group said the new division will work alongside the label’s existing operations in Morocco and Cote d’Ivoire.
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