Apple music was finally made available to the Public on Tuesday, 30th June. This would allowed Apple to compete with power players in the streaming music game. The service was announced at the World Wide Development Conference only a few weeks ago. The following are some of the 7 things you need to keep in mind immediately your iPhone is updated.
1. Launch Time
The senior director of Apple Music, Ian Rogers tweeted that users needed to have their iPhones updated after 30th June, East Coast time, 11 a.m. This is in order to get Apple Music as fast as possible. One hour later, at midday, Zane Lowe kicked off the broadcast of radio 1 beats from Los Angeles.
It will cost $ 9.99 every month or $ 14.99 for a family plan accommodating a maximum of six users. Just like Rdio and Spotify, this entails unlimited streams and listening offline from the library of Apple Music. There is no such free tier for music on demand. For the first three months, Apple is giving free trials in order to attract established users from switching from competitors.
3. So … iTunes?
ITunes is fully alive, iTunes is not dead I repeat. On your iPhone, it will still be possible to see the purple icon of iTune store. The clients who still prefer buying their music for $ 1.29 at ago will not have anything changed. All that you own on iTunes will be integrated seamlessly to your library of Apple music. As such, you will not have it rebuilt from scratch; even the embarrassing album that you purchased in 2007 which you really don’t like.
4. The Catalog
You don’t have to pay a subscription fee for you to get everything in iTune. If you wish to buy it separately, it can be streamed, downloaded and played whenever you wish. You will have a smooth experience and even not realize that it is not the same from music that you don’t really own. Google play will have this done on your behalf. It will be more than 30 million songs available during the launching.
5. What’s Connect?
Connect is a feed where artists share content of multimedia nature and at the same time users get to comment on this content. One can follow the artist of his choice. All artists can get an account with Content, get verified and make direct posts. This offers a platform for fans and artists to interact casually.
6. Whistles and Bells
In order to have it separated from the pack that is crowded, Apple Music has had its little features doubled down. There is an interface filled with bubbles which makes one remember the app of Beats Music. This allows you to select artists and genres of your choice to diverse degrees. An album and playlist recommendations will then be made accordingly.
7. Human Curation
Human Curation is one thing that Apple Music pegs on. This can be found in the play station of Beats 1 radio that was assembled by actual people and not algorithms. There is a culture surrounding art that human beings compile and does not come to play through the normal algorithmic song list. Apple would like you to see its Apple Music as a platform of learning music and experiencing the culture of music as opposed to listening songs on demand.
Pantami Moves to Tackle $2.16bn Capital Flight from Telecoms Sector
$2.16bn Leaves Telecommunications Sector Yearly
The Minister of Communications and Digital Economy, Isa Pantami, has put the total capital flight from the telecommunications sector at $2.16 billion per year.
A large part of the total amount comes from those renewing and purchasing software licenses, domain subscriptions and renewals, and cybersecurity.
The minister said to stem the trend, the ministry has developed a policy to promote local content in the sector.
In his speech at the digital day celebration, Pantami said the Indigenous Content Development and Adoption, under Pillar #8 of the National Digital Economy Policy and Strategy (2020 – 2030), would tackle the issue.
Pantami said, “As part of our efforts to promote indigenous content, we have developed a policy for promoting indigenous content in the telecom sector to complement similar efforts that focus on the information technology sector.
“This is important to stem the tide of capital flight, among other things. A report of the Association of Telecommunication Companies of Nigeria suggests that such capital flight in the telecom sector is as high as $2.16bn annually.
“A healthy digital economy requires a robust indigenous content policy to significantly reduce this.”
Pantami stated that there was an urgent need to promote and support the development of indigenous content in all sectors.
He explained that the Indigenous Content Development and Adoption pillar was addressing this for the digital economy.
“This pillar aligns with Executive Orders 003 of May 2017 and 005 of February 2018, on ‘Support for Local Content Procurements by Ministries, Department and Agencies of the Federal Government of Nigeria,” he said.
Speaking on broadband, the minister said the Nigerian National Broadband Plan (2020-2025) was created to speed up the growth of broadband connectivity in Nigeria.
Pantami said, “The plan is designed to deliver data download speeds across Nigeria of a minimum 25Mbps in urban areas, and 10Mbps in rural areas, with effective coverage available to at least 90 per cent of the population by 2025.
“This will be at a price not more than N390 per 1GB of data (two per cent of median income or one per cent of minimum wage).”
Nigeria’s Fintech Startups Raised $122 Million in 2019
Financial Technology Startups in Nigeria Raised $122 Million in 2019
Financial Technology (fintech) startups in Nigeria raised a combined $122 million in 2019, according to the Nigerian Stock Exchange (NSE).
Mr. Olumide Bolumole, the Divisional Head of Listings Business, NSE, disclosed this while speaking on the fintech industry and its growth in recent years.
“The Fintech industry in Nigeria continues to gain increasing popularity after taking the lead in Africa and attracting $122 million in funds in 2019.
“At the exchange, we recognise the opportunity to provide a platform where players in the Fintech landscape can have easier access to right-sized capital to fulfil their organisational objectives.
“The NSE is, therefore, committed to developing multiple solutions to address the needs of the Fintech community in Nigeria such as the provision of the NSE Growth Board.
“The exchange will also prioritise collaborations with organisations such as FinTechNGR to ensure solutions from this webinar are implemented for the benefit of the sector,” he said.
However, with just about 200 fintech companies in Nigeria, the sector is still young and just emerging with room for growth, considering the fact that most Nigerians are still unbanked.
Fintech Companies Raised $554 Million in Investment Last Week
Financial Technology Firms Raised $554 Million Investment Capital Last Week
Financial Technology (Fintech) companies raised a combined $554.17 million from investment rounds last week.
A data compiled by Finbold showed the top 25 fintech firms were led by Razorpay and Wealthsimple.
Razorpay, a payment platform, raised $100 million to account for 18.04 percent of the total amount raised during the week. This was followed by Wealthsimple’s $87 million.
Deepwatch came third with $53 million while NYDIG and M1 Finance came fourth and fifth with $50 million and $45 million, respectively.
Other noteable fintechs include Extend $40 million; FOSSA $30.55 million; +Simple $23.75 million; Finexio $23 million; and Sonrai Security $20 million.
On the other hand, Evolve Credit was the last among the 25 companies. It raised $0.025 million while Upside Saving raised the second least fund at $0.42 million. Also, they were the two firms that raised below $1 million in the week under review.
Oliver Scott, a Finbold editor, who spoke on funding in the fintech sector, said “Notably, venture capital is still the primary source of funding for fintech startups. However, new trends indicate a high level of private equity and debt financing. Additionally, more funding activity is concentrated around later funding rounds. The sector is also witnessing a rise in IPOs and acquisitions. Such trends are pointing to a maturing market.”
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