Speaking shortly after the event, Adebola Adeyinka, the Assistant Marketing Manager, Rites Food Limited, said the firm’s sponsorship of the music reality show, “is a validation of one of our values in terms of supporting Nigeria and supporting Nigerian youths in birthing their talents, giving back to the community and connecting with our consumers.
“So for us it’s an exciting thing because one of our objectives when we set out to sponsor this reality competition was to know, connect with our consumers, and support Nigerian youths in birthing their dreams and discovering new talents. So for us as an organisation, it’s an exciting period.”
Since the emergence of the first winner in 2011 till date, the music reality show has produced eight winners, and for the Chief Executive Officer, West Africa, MultiChoice, John Ugbe, “Nigerian Idol has become a powerful platform for investing in the Nigerian entertainment industry, and has grown to become a vehicle for aspiring exceptional singers who can make a mark.
“The industry is projected to reach $14.82 billion by 2025, and we need to be deliberate about its trajectory and how young Nigerians will contribute to that future. Nigeria is rich with creative ingenuity and musical talent that can shape the world, and we are proud to play a role in actualising this dream for thousands across the country. We are invested in doing even more.”
For Dr. Busola Tejumola, Head of Content and West Africa Channels, MultiChoice, the TV music reality show since its inception in 2011, has served as the springboard to launch the music careers of young aspiring singers in Nigeria; serving as a platform for budding artists to reach an audience, tap into fame and eventually commercial success.
She said: “Nigerian Idol has transitioned beyond being merely an entertaining show to become a key indicator of trends within the music industry in Africa, as well as, a strategic investment in the industry. Beyond its entertainment value, Nigerian Idol is a catalyst for economic growth towards enriching lives, and we are happy to be a part of Victory Gbakara’s journey.”
According to her, “As a rapidly growing sector in the entertainment industry, music has helped to elevate Nigeria’s image and cast a good light on the nation. Nigerian Idol contributes economically and through talent development to the Nigerian music industry.
“Music also contributes in a significant way to the country’s Gross Domestic Product (GDP) and is expected to improve as more stars like Victory Gbakara create great music that can attract listeners worldwide. Statista notes, Nigeria’s music revenue grew from $26 million in 2014 to $34 million in 2018, and by 2023 the revenue is expected to amount to $44 million,” she added.
