Boomplay raises $20m in new funding


It has been a busy few weeks for Boomplay, the digital music service that is building across multiple markets in Africa. Last month, it signed a licensing deal with Warner Music Group covering a catalogue of 1m songs for 10 countries – namely Cameroon, Cote d’Ivoire, Ghana, Kenya, Nigeria, Rwanda, Senegal, Tanzania, Uganda and Zambia. This followed a licensing deal with Universal Music Group last November. Now it has raised $20m in a Series A funding round (led by Maison Capital) to fuel its expansion – including securing more licensing deals and building up its team in various African countries.

Boomplay launched in Nigeria in 2015 and claims to now have 5m tracks in its catalogue as well as 42m users across multiple markets on the continent. As with Spotify, it operates on a freemium model – allowing free access (with certain restrictions) to music as well as a subscription tier. It does not, however, break down how many of these 42m users are paying subscribers.

Boomplay CEO Joe He sees growth in Africa as just the first step in the company’s global aspirations. “Music has no borders, and we’re committed to providing a rich and high-quality music experience for all users – not just in Africa, but around the world,” he said in a press statement. “This investment will help us do just that, by fostering cultural interchange and helping people communicate through the universal language of music.”

Eamonn Forde

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