Afrobeats Industry Faces Crisis as Promoter Paulo Okoye Warns of Rising Costs

Nigerian music promoter Paulo Okoye has warned that Afrobeats is experiencing an economic crisis, describing the genre as “dead or in a coma.” He says soaring artist fees, a shrinking live‑event calendar and the concentration of earnings among only a handful of stars are making the business unsustainable. Okoye notes that out of roughly 10,000 Afrobeats artists, fewer than ten earn meaningful income from streaming, touring or sales, and many promoters can no longer afford to book acts. Corporate sponsors are also pulling back, threatening the “heartbeat” of the industry—live shows. He calls for a collective reform of pricing, more shows and a fairer revenue model to secure the genre’s future.