An entrepreneur and founder of Triple Gold Entertainment, Edidiong Mbong, has said that the Nigerian music industry lacks a well defined business structure.
The music entrepreneur, whose brand focuses on artiste development and music distribution, told Sunday Scoop, “Despite its immense potential, the Nigerian music industry lacks well-defined business structures. Investors can explore opportunities, such as owning record labels, music streaming platforms, or investing in artiste management. Clear financial reporting and auditing practices are essential for attracting investment. Fostering collaborations and promoting our music globally can lead to increased export revenue. Investments in concert venues, studios, and music education institutions are also vital. A robust infrastructure supports artistes and facilitates creativity. Strengthening copyright laws and enforcement mechanisms ensures that artistes receive fair compensation for their work. In summary, the music industry holds immense promise, and strategic investments, policy reforms, and collaboration will shape its bright future.”
On what inspired him to start his company, he said, “The company was born out of my passion for music, and the desire to contribute to the vibrant entertainment industry. I envisioned a company that would empower artistes and revolutionise the entertainment sector through technology. As a company, we are motivated by the passion for music and a desire to address the challenges faced by artistes in the industry, such as limited access to resources and opportunities for growth; not only by producing exceptional content, but also by fostering talent, innovation, technology, and community.”
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