Africa’s largest music industry, the Music Industry Federation of Africa, has released its 2017 statistics, and unsurprisingly, the continent’s biggest and most popular artists are making the biggest and best music in the world.
The numbers reveal that there were 4.2 million music professionals in Africa last year, a drop from 5.6 million the previous year, and a rise of almost 70% from the year before.
But with a population of just under 10 billion, the industry remains a relatively small and underfunded one.
It’s hard to say exactly how much money African artists make on average, but according to data released by the African Federation of Music Artists, they earn just over half of what American musicians make.
The rest is largely made up of fees, royalties and other forms of support.
According to the data, a whopping 70% of the world’s top earners make more than $1 million, while the average African artist made $1.9 million.
And yet, despite this success, Africa’s music industry still struggles to find funding, with the African Foundation for Music and Culture (AFFMIC) stating that just 2.2% of its revenue in 2015 came from foreign sources.
This is despite a country with a per capita GDP of $3,904 and the continent having a total of 2.4 billion people, according to the latest World Bank data.
So, what is the problem?
There’s no doubt that Africa’s booming music industry is a big draw, but there are many factors that contribute to its success, including its relative abundance of talent.
In terms of talent, Africa is the world leader in Africa, and with that comes a wealth of talent that has the potential to make music a career.
According the AFFMIC, there are more than 500 African artists on the Billboard Hot 100 chart, and more than one million in the Billboard World Albums chart.
They’re also the top grossing artists in the continent, with their album sales reaching more than US$7.5 billion in 2015.
There are also more than 60,000 artists in Africa’s top 200 music festivals, and according to The International Federation of the Phonographic Industry (IFPI), there are over 10,000 music festivals in Africa.
The growth of the industry also has its challenges.
Despite having a large number of artists, the country has not had the same amount of talent in the industry for a decade.
In 2016, only 4.5% of music industry professionals were African.
According a 2015 report from the Africa Foundation for the Arts and Culture, Africa has one of the highest rates of gender inequality in the entire world, with women outnumbering men in all areas of the music industry.
According in the report, there is still a huge gap between the number of female and male artists, and the fact that the music business in Africa is largely owned by men, with only 10% of those in the music and recording industry actually being women.
The lack of representation also means that the majority of African artists have only made one single album.
The data also indicates that the vast majority of artists do not have a well-known label or a track record.
As a result, artists are largely self-taught and often rely on the internet and social media to make their mark.
With less than 5% of African musicians having a studio, the lack of support is a concern.
But the good news is that the industry is starting to change, with new labels coming on board in the last few years.
The International African Music Industry (IAMI), a network of artists in African music, launched in 2017.
With a goal of connecting artists to their fans and promoting their music, the group has been a huge success and is working to build up an international network of over 1,000 African artists.
IAMI is currently focused on releasing more than 3,000 albums a year, with more than 1,100 being released annually.
This represents a substantial increase from the 4,000 to 5,000 releases a year the group released last year.
IamI also aims to create a global network of talent through the launch of a new music festival, the International African Festival (IAF).
IAF aims to take the music festival experience to a new level, bringing artists from all over the continent together for a night of music and storytelling.
According IAMO, the IAF will be a unique and immersive experience that will allow listeners to connect with artists and producers from all around the world and to hear their music firsthand.
The IAF festival will take place at the Nairobi International Airport and will feature a wide range of genres, including Afrobeat, pop, rock, hip-hop, electronic music and electronic dance music.
The event is slated to take place in November and will host more than 300 artists, who will be able to perform and interact with fans.
The festival will also feature live performances from international acts such as Afrojack, Zara