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By partnering with Transsion Holdings which has a well established footprint across Africa, Chinese technology startups are finding a new way to scale across the continent.
Music streaming services have the largest short term upside if they double down in Ghana and Nigeria. As subscription growth continues to reach its peak in the Nordics, United States, and many parts of Europe the race to expand further has become even more competitive.
Sony Music Entertainment (SME) has agreed to license its music catalogue for Boomplay, which is owned by Transsion Holdings and NetEase. The agreement with SME follows on from Universal Music signing a similar licensing deal with Boomplay earlier in 2019.
Universal has agreed to a deal to license its catalog to Boomplay, the leading music streaming service operating across Afrika.