The music industry has been hit hard by coronavirus with live performance revenue the biggest casualty. A four-month shutdown is estimated to cost the industry more than N10b in sponsorships, live shows, and endorsements with longer delays being even more devastating.
However, some stakeholders in the industry are fighting back with new ways to monetise music consumption.An artist, Akinsebikan Olabode Charles a.k.a Package AOC in a chat with The Guardian stressed the need to devise modalities to cushion the adverse effect of the lockdown and social media distancing.
Speaking on the lessons learnt from COVID-19, Olabode said the lockdown has opened the eyes of many artists to adopt virtual engagement, especially with their fans, clients and prospects. He added that his brand has been producing and making good music in preparation for when the whole pandemic will subside.
“COVID-19 pandemic has been tough on all individuals and businesses. It has also taught us a lot.
“For professionals who spent much of their life on stage or in the company of other musicians, sharing ideas, collaborating, feeding off the energy of fans and audiences, there has been an impact on creativity too.
“Live shows are the most affected part of the entertainment industry, but the basic source of income of those in the music business which includes, studio session, productions have dropped more drastically. Every session planned in my diary is gone.
“My entertainment company never stopped working, my team and I have been making good music and creating plans for epic events when COVID-19 finally subside,” he said.