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What is Spotify Data Bonus on Airtel?

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Airtel Africa Plc - Investors King

Last week, top telecommunication firm, Airtel Nigeria announced that it has partnered with audio streaming service, Spotify to provide data bonuses for its customers to access unlimited local and foreign audio content on the musical platform. The complimentary data comes at a time when Nigerian artistes and their music have begun appealing to a global audience.

When Spotify launched its service in Nigeria last year, the world’s largest streaming service became the 13th audio-streaming platform to launch in Nigeria. Before then, Nigerians accessed the platform’s services with the aid of a Virtual Private Network (VPN). Shortly after its launch, Spotify established a payment network with Nigerian banks, accepting to operate in Naira, rather than in U.S Dollars, which is at a higher rate.

Outside Nigeria and parts of Africa, it is present in, Spotify’s cheapest monthly subscription plan available to students costs $4.99 (N2,085). Its main plan goes for $10 (N4170). As a monthly subscription, the price is quite high for an economy where two-thirds of its citizens live below $2 a day.

To cater to young Nigerians, who are the highest users of the audio-streaming service, Spotify had to slash its high prices, demanding similar prices to Apple Music and Youtube Music. Students here are required to pay N450 ($1.09) for a monthly plan. This is still the least, compared to individual plans that goes for N900 ($2.19) and family plans going for N1,400 ($3.40).

Although the prices are slashed, many Nigerians are still not able to afford it, making the partnership with Airtel Nigeria feel like a solution to ease streaming prices.

Airtel Spotify bonus

According to Airtel, customers who purchase weekly and monthly data bundles, will receive complimentary data bonuses to stream music and podcast audios unlimitedly, on Spotify, without having to worry about additional data costs.

Investors King learned that if a student subscriber on Spotify gets the N450 subscription plan, your daily Airtel data purchase at N100, specifically for streaming, will allow you access to unlimited local and foreign audio content that will last for 3 days.

How the Bonus can be Used:

On Airtel Streaming, customers can purchase daily, weekly or monthly data subscriptions, allowing them to stream unlimitedly for the given number of days their purchase covers. Airtel Streaming has been designed for streaming on selected platforms, including Spotify.

That is, once you subscribe for Spotify, depending on whatever plan you want, your data purchase for that day, week, or month will come with bonuses that ensure you keep streaming your beloved song or podcast.

A N2000 data purchase for a month, say February, on Airtel Streaming, offers customers 7 gigabytes (GB). Spotify subscribers who buy this data plan will not be limited by a ‘low data’ notification as they can still access their favourite songs on the platform, till February, which the data plan covers ends.

For 30 days also, customers can pay for 15GB worth of data at N3,000, and N5,000 for 30GB. Both data plans on Airtel Streaming will not limit the number of musical content a user has in a month, as bonuses through Airtel’s partnership with Spotify will be made available unlimitedly. Customers are to dial *141# to receive more guidelines.

Telecommunications

MTN Nigeria to Convene Extraordinary General Meeting to Address Capital Loss

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Karl O Toriola - Investorsking.com

MTN Nigeria, one of the country’s leading telecommunications giants, has announced plans to hold an Extraordinary General Meeting (EGM) with its shareholders to deliberate on strategies for managing the significant capital loss it incurred in 2023.

The decision was disclosed in a corporate notice filed with the Nigerian Exchange Limited on Tuesday and the EGM is scheduled to take place later this month in Lagos.

The primary agenda of the meeting will be to discuss and explore possible measures to mitigate the loss of capital suffered by the company during the financial year ended December 2023.

The telecom giant posted a net loss after tax of N137 billion, largely driven by a N740 billion foreign exchange loss.

Consequently, MTN Nigeria’s retained earnings and shareholders’ fund plummeted to negative N208 billion and N40.8 billion, respectively.

In a statement, Karl Toriola, the Chief Executive Officer of MTN Nigeria, acknowledged the daunting operating environment characterized by inflationary pressures, currency devaluation, and foreign exchange shortages.

Toriola explained that the adverse impact of these factors on the company’s financial performance necessitates a comprehensive reassessment of strategies to navigate the complexities ahead.

Toriola further expressed the company’s commitment to sustaining commercial momentum and accelerating service revenue growth, despite the challenging economic landscape.

The decision not to declare a final dividend for 2023 reflects MTN Nigeria’s prudent approach to prioritizing financial stability and long-term resilience amid ongoing uncertainties.

The upcoming EGM signifies a pivotal moment for the company and its shareholders to collaboratively chart a course towards recovery and sustainable growth.

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Telecommunications

NCC Files Copyright Infringement Charges Against MTN Nigeria and Others

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Karl O Toriola - Investorsking.com

The Nigerian Copyright Commission (NCC) has taken legal action against MTN Nigeria Communications Ltd. and four individuals, including its Chief Executive Officer, Karl Toriola, over alleged copyright infringement.

The charges, filed in the Federal High Court, Abuja Division, revolve around the unauthorized use of musical works belonging to artist Maleke Idowu Moye.

According to the NCC, the defendants are accused of offering for sale, selling, and trading musical works of Maleke without his consent between 2010 and 2017. These works were allegedly used as Caller Ring Back Tunes without proper authorization.

The musical pieces in question include popular tracks such as “911,” “Minimini-wanawana,” and “Stop racism,” among others.

The commission further alleges that the defendants distributed these musical works to subscribers without authorization, infringing upon the rights of the artist.

The charges are based on provisions of the Copyright Act, Cap. C28, Laws of the Federation of Nigeria, 2004.

As the case awaits assignment to a judge and a fixed date for mention, it marks a significant development in the ongoing efforts to uphold copyright protection in Nigeria’s telecommunications sector.

This legal action underscores the NCC’s commitment to safeguarding the intellectual property rights of artists and creators within the country.

MTN Nigeria, a major player in the telecommunications industry, now faces a legal battle that could have broader implications for how intellectual property rights are respected and enforced within Nigeria’s digital landscape.

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Telecommunications

MTN’s MoMo Sees 32.2% Surge in Transaction Volumes

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MTN Nigeria - Investors King

MTN Group’s mobile money platform, MoMo, has experienced a 32.2% surge in transaction volumes.

With 72.5 million active users, MoMo continues to solidify its position as a leading fintech service provider in Africa, tapping into the continent’s burgeoning mobile banking sector.

The company’s success underscores the growing trend of Africa’s young and tech-savvy population embracing mobile technology to address financial needs.

Mobile phones are increasingly becoming a tool for bridging gaps in services, particularly in banking, presenting a lucrative opportunity for wireless carriers like MTN to capitalize on the burgeoning fintech market.

MTN’s achievement comes as it finalizes a deal with Mastercard Inc., valuing its fintech business at an impressive $5.2 billion.

This strategic partnership further enhances MTN’s position in the digital finance space, positioning it for continued growth and innovation.

However, MTN is not alone in its fintech endeavors. Rivals such as Airtel Africa Plc, Safaricom Plc, and Vodacom Group Ltd. are also making strides in digital transformation, with plans to separate and monetize their fintech businesses in the long term.

Airtel Africa, for instance, is reportedly considering an IPO for its mobile money unit, indicating the high stakes and intense competition within the sector.

Despite the remarkable success in its fintech ventures, MTN faced challenges in its core telecommunications business, with service revenue growth slowing to 6.8%.

Inflation and currency devaluation in key markets, particularly Nigeria, impacted profitability, highlighting the complexities of operating in diverse African markets.

As MTN continues to expand its fintech footprint and invest in infrastructure to enhance connectivity across the continent, it remains poised to capitalize on the immense potential of Africa’s digital economy.

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