Known for his laid-back style, alté sound, and innovative African music, Mr Eazi has made waves in the industry. In July 2020, the Afropop artist introduced the African Music Fund, valued at $20 million, aimed at supporting African creatives.
During a discussion at the Future Africa event on January 19, 2023, Mr Eazi sat down with Eche Emole, the founder of Afropolitan Group. They explored how the realms of technology and music could intersect and benefit each other.
Mr Eazi drew a comparison between artists and startups, and music labels with venture capitalists (VCs). He explained that while global music labels dominate around 60% of intellectual property (IP) control outside Africa, they only manage about 2% within the continent. This indicates that many African artists have considerable autonomy in their creative processes but still require funding for aspects like marketing and branding.
He emphasized that investors should understand the potential of the African music industry, noting that as more African artists gain international recognition and generate significant revenue, there is a strong foundation for investment.
In December 2020, Mr Eazi shared a tweet hinting at a system where his fans could own shares in his music. During the event, a member of the audience asked him to elaborate on this idea. For him, it was about involving his fans in the process.
With his platform Empawa music, Mr Eazi aimed to bridge the gap between artists and their fanbase. Under this model, fans could act as VCs, investing in the artists they love and earning a portion of the music’s earnings. He mentioned that he might try this approach for his next album.
Looking ahead, Mr Eazi sees collaborations with tech companies and the development of new tech solutions tailored to African artists as key to the future of music in Africa. He pointed to increased funding in the African music industry, such as Transnet’s partnership with Boomplay, as an example of how investments can provide leverage and open doors for more partnerships to help the industry grow.
