Music: how can it be monetised in and outside of Africa? UN SDG#10

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The economics of someone’s passion is quite intangible and rather difficult to measure. Economics and markets like to measure and quantify nominally. This allows them to predict and forecast potential revenues, investments and volumes.

Today’s GrowthView explores our passions and interests that cut across societies. Music connects us emotionally. How can we achieve the UN SDG #10 on reducing inequalities within and among countries, with art &music?

 

How has technology evolved to capture our love for music? Has Spotify’s business model tapped into the African market? Can we simply measure our interests?

 

The aim is poverty reduction. GrowthView turns to what we value, as people.

 

Someone’s passion for instruments, singing or football is an emotional connection and this is harder to set on a barometer.

 

What we value can be measured – emotional impact is sustainable

These are hot and cold feelings – this is why in technology we also see heat maps for IT system architectures, to clearly and simply visualize the cost of a software and the buy-in from users internally. For example, in a large corporate bank that has a multitude of software and systems in place (CRM, trading platforms, data transmitters or simply risk calculation engines). These systems are visualised sometimes with heat maps – red to green.

 

Same as when children play the hot and cold game or hide and seek and the child says “you are getting hotter” or “no, you are cold”, as he/she wanders looking for her/his friend with eyes closed.

 

These simple barometers of hot and cold are understood universally.

 

Markets and investors are constantly looking for scales and for spectrums of growth. What does this really mean? Growth potential is infinite. Company valuations are based on … Read More...