A significant knowledge gap regarding intellectual property (IP) is hindering the long-term financial success of individuals in the creative industry, according to industry leaders. This issue was a major talking point during RegalStone’s live session, titled The Next Billion Dollar Sound: Music, Data, and Digital Investment, which followed the release of its Nigerian Music Market Intelligence Report. The lack of understanding about IP, publishing, and rights management is seen as a barrier to wealth creation and attracting investment.
During the session, Bizzle Osikoya, co-founder of The Plug, highlighted the problem, stating there is a “huge knowledge gap for artists and creatives” who “don’t understand what IP is.” This lack of knowledge extends to not knowing how to value their catalogue or the basic business structure of the industry. He explained that this can lead to mistrust with management, as artists may feel they are being “ripped off” simply because the business side of things has not been properly explained to them.
Obi Asika, the Director General of the NCAC, underscored the long-term value of IP, reminding attendees that copyright lasts for 75 years for the owner, providing a long window to monetise and work the asset. He emphasised the necessity of working with professionals who understand publishing, rights, and how to secure the best deals in the market. Asika also noted that while IP is typically not funded by banks, it is an asset class that investors are increasingly interested in, provided the data and viability are clear.
Bizzle Osikoya suggested that musicians should be supported with affordable company registration, tax education, and a team to help with royalty collections. As Obi Asika put it, artists are not victims: “there’s leverage in capacity. There’s leverage in who you are and what you’re bringing to the table.” The key, according to Asika, is to always try to retain as much ownership as possible and “know how to work [out] smart deals” regarding publishing and distribution.
NECLive 2025 returns on Friday, November 28 at Landmark Events Centre. Explore this year’s theme, ‘Powering Africa Through Creative Enterprise,’ and connect with industry leaders. Secure your spot today at www.nec.ng.
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