Warner acquires Africa’s top music distributor Africori
Warner Music Group (WMG) has acquired a majority stake in Africori, a prominent African music distribution, rights management, and artiste development company.
The multinational entertainment and record label conglomerate confirmed the acquisition in a statement yesterday.
Africori caters to music rights management and artist development and also serves about 7,000 artists and 850 clients.
In 2021, the firm said its artistes generated hundreds of millions of audio streams and billions of YouTube views.
Warner, in its statement, said the decision to take a majority stake in Africori could see it become the foremost distributor in Africa and open up more opportunities for African artistes to tap into the WMG’s global network.
It said Africori will continue to operate as an independent firm, with Yoel Kenan, the CEO, remaining in post.