A local musical recording company has decided to utilise opportunities presented by technology through digitalising most of its operations.
Speaking to this publication, Diamond Music Company’s director Mr Steady Munyanyi said the advent of the Coronavirus pandemic has made them realise the need to improvise by digitalising .
“The Covid-19- induced lockdown has not been kind to us in the music business but it has presented us with an opportunity to tap into the digital word for us to remain viable,” said Munyanyi.
Despite boasting of the state-of-the-art digital music and video production studios ,the company is nowmarketing and distributing music on popular online sites like YouTube, ITunes, Google Play Music, Spitfire and Revebnation.
It has since roped in a Congolese Rhumba artiste ,Desolo B ,who has since signed a contract that will see his music being marketed by the stable.The artiste recently released a video ‘I love You’ http://www.youtube.com/watch?v=xJJCx8JU5Ug from his debut album and is reportedly working on a second album at his new found home ‘Diamond Music Company’.
A report by the Research Report World reveals that the digital music market presents an immense opportunity for a growth in the industry.
“The global Digital Music market is anticipated to rise at a considerable rate during the forecast period, between 2020 and 2025.
“ In 2020, the market was growing at a steady rate and with the rising adoption of strategies by key players, the market is expected to rise over the projected horizon,”it says.
It is estimated that ITunes rakes around $6.9 billion each year translating to 75 percent of all global digital music sales which makes it a lucrative venture for music companies like Diamond Music Company.
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