5th June, 2020
By Taiwo Okanlawon
Nigerian-American rapper and fitness coach, Chigozie Alvin Anugwom popularly known as A-Bate has lamented on the negative effects of the COVID-19 pandemic in the entertainment industry.
Numerous music events, including music festivals, concert tours, and award shows, were cancelled or postponed. While some musicians and composers were able to use the time to create new works, there were flow on effects on the many supporting people who relied on performers for their income.
The Los Angeles-based record producer revealed that about five-month shutdown of shows, concerts among others is estimated to cost the music industry about $10bn in sponsorships, with longer delays being even more devastating.
“It’s a lot. The crisis is huge and keeps accelerating. but based on the importance of streaming, which has grown from 9% to 47% of total industry revenues in few years, we will survive.
“But the business model of music is live music, which made up over 50% of total revenues and is derived mainly from sales of tickets to live performances, you can see it’s a big mess for artistes across the globe.
“In the wake of the pandemic, physical sales went down by about one-third, while digital sales have fallen around 11%. This aligns with general falls in discretionary spending, but the industry will surely find ways to mitigate the impact of COVID-19,” he stated.
A-Bate who hails from Owerri, studied child development in Child development in Lacc College Los Angeles Community. He recently dropped LV Gucci produced by DJ Snake.
The hip hop star is also currently working on new musics.