Boomplay raises $20M in funding


Boomplay Music, a leading music streaming and download service in Africa, has raised $20 million in Series A funding to continue its rapid expansion on the continent, the company announced Friday (April 5).

The streaming platform, which operates the Boom Player app, is adding an average of 2 million new subscribers per month and now boasts 44 million app downloads and 1 million daily users. It hosts the most extensive online African music catalog in the world with 5 million tracks, according to the company.

Boomplay launched in Nigeria in 2015 and is owned by Transsnet Music Limited, a China-based company. Users can stream songs and videos online for free or sign up for one of the platform’s subscription plans, which are available globally with a focus on Sub-Saharan Africa.

Read the rest of this story on Billboard.

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