Warner Music Group Completes Africori Acquisition
Warner Music Group finalized the complete acquisition of Africori, a company focused on music, rights management, and artist development in Africa.
Founded in 2009, Africori claims to be “one of the largest independent collections of songs in Africa,” featuring music from notable artists such as Kelvin Momo, Master KG, Nkosazana, Oscar MBO, and Titus. The company currently represents over 7,000 artists.
WMG first invested in Africori in Johannesburg in 2020, stating that the deal provided access to the distributor and A&R network catalog, enabling them to “engage in numerous African markets.”
Warner acquired a controlling interest in Africori in 2022, leading to the complete acquisition this month.
Africori’s Role and Future Plans
On February 11, WMG announced that Africori would continue to operate as an independent entity, with Joel Kenan remaining as CEO, reporting to Temi Adeniji, managing director of Warner Music Africa.
Additionally, according to the press release, the companies have “aligned their systems” to ensure that Africori’s artists and songs can ascend into Warner’s global music network.
According to WMG, their partnership with Africori achieved its first global success with Master KG’s hit Jerusalema, which amassed 435 million streams on Spotify alone in 2020.
Other notable successes include a five-times platinum certification in South Africa for Tido & Yupee’s TSHWALA BAM, and the debut album of Nkosazana’s daughter, Mahelway, which garnered 100 million preliminary streams.
Comments from Leadership
In response to today’s announcement, Joel Kenan, CEO of Africori, stated: “We have had an incredibly successful few years collaborating with Temi Adeniji and Warner Music.”
“The Africori team looks forward to working with the entire Warner Music family as we discover and nurture the next generation of talent across the continent.”
Joel Kenan, Africori
Kenan emphasized: “From the very outset, our overarching aim has been to connect African music with fans around the globe.”
He added, “Over the last four years, we’ve demonstrated that effective investment, synergy, and collaboration have not only created value for artists but also that Warner Music has energized and nurtured the entrepreneurial spirit of local partners.”
“This significant moment in our evolution in Africa exemplifies our commitment to proper investment and collaboration.”
Temi Adeniji, Warner Music Africa
The adeniji commented on expanding the reach of Africori artists and connecting them to Warner’s global network, providing international remixes and promotional strategies that have propelled their careers.
Elsewhere in Africa, Warner Music Group launched WM Africa Francophone (WMAFR) in October to operate in France and French-speaking Africa south of the Sahara.
WMAFR represents a collaboration between Warner Music Africa, Warner Music France, and Africori.
According to IFPI, sub-Saharan Africa was the fastest growing music region in 2023, a trend that continued from 2022.
Recorded music revenue in sub-Saharan African countries grew by 24.7% in 2023, driven by a 24.5% increase in paid streaming income.
South Africa remains the largest market in the region, accounting for 77% of regional revenue after achieving a 19.9% growth in 2023.
In South Africa, the company’s artists have topped the radio monitor charts for 11 consecutive weeks, thanks to popular tracks like SDAKIWE SBALI, Ndsize, and Vuka.
The music distributed in Africa comprises 50% of the top 10 BMAT ranking, and last weekend, it secured six of the top positions on the Apple Music South Africa charts.
During WMG’s Q4 2024 earnings call last week, CEO Robert Kinkel noted how the company “collaborates with local players” as part of its ongoing efforts to enhance market share worldwide.
Recent transactions by WMG with local enterprises include a minority stake in Skillbox in India and the acquisition of indie label Cloud 9 in Benelux. WMG has also recently taken a minority interest in the Brazilian music platform UGC and distributor Sua Mifeica.
Warner Music Group completes full acquisition of Africa-based music distributor Africori
