Boomplay receives Chinese funding

The funds, says the company, will help the growing platform reach more users across the continent.

“Our vision is to become not only a music streaming service, but we aim to be the No 1 player in the whole music ecosystem for African music,” Boomplay CEO Joe He said.

The new injection of funds was made mainly by Chinese private equity firm Maison Capital. The streaming service is itself Chinese, as it is the product of a joint venture between phone company Transsion and mobile content developer firm NetEase. Both are Chinese establishments.

“We are extremely grateful to Boomplay’s new and past investors for their continued faith and support which has enabled Boomplay to reach this landmark milestone,” He said.

“Music has no borders, and we’re committed to providing a rich and high-quality music experience for all users – not just in Africa but around the world. This investment will help us do just that, by fostering cultural interchange and helping people communicate through the universal language of music.”

Since it launched in 2015, Boomplay has grown steadily to become one of the biggest players in the digital music streaming space on the continent. Two years after it launched, it won in the Best African App category at the Apps.com Awards. At the time, He said the platform’s growth in such a short time was “super impressive”.

He added that the platform would focus on “confronting digital content consumption challenges with new and adaptive innovations through technology.”

It appears to have done that. Last year, Boomplay grew its library by partnering with Universal Music Group. Just last month, it announced another partnership with Warner Music Group, thereby getting two of the world’s 'Big 3' record labels into deals. These arrangements have given its users access to a vast repository of music from around the world, including songs from Taylor Swift, Tekno and J Cole.

“Africa is full of opportunity, from its young demographics to its vibrant culture, and Boomplay sits in the middle of all of that greatness,” Maison Capital managing director Tony Li said.

“Boomplay has incorporated NetEase’s experience in the music streaming business with Transsion’s expertise in local operations, and in doing so Boomplay became the dominant player in the region in a very short period of time. As more of Africa comes online, we are confident that Boomplay will continue to be a major force in business and culture.”