Girish Mahajan (Editor)

Spinlet

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CEO
  
Nkiru Balonwu

Slogan(s)
  
Think Music

Spinlet

Headquarters
  
Lekki, Lagos State, Nigeria

Industry
  
Music, Media, Entertainment

Services
  
Music Streaming and Download, YouTube Partner Services

Spinlet is a digital media company, focusing on Afro-Centric content. Spinlet’s primary service is music streaming and downloads available globally via browser at spinlet.com, and the Spinlet app on iOS and Android. Spinlet's technology allows the consumer to purchase, listen, share and discover new music while offering integration and storage of the user's music library on their mobile device. As at October 2015, the Spinlet app had been downloaded nearly 2 million times.

Contents

Spinlet has been appointed by the International Federation of the Phonographic Industry (IFPI) as Nigeria’s first ever manager for ISRCs – the International Standard Recording Code, an essential digital monitoring and revenue tracking tool.

History

Spinlet was originally a music streaming mobile app developed in 2006 by two Finnish brothers, Sami Leino and Ville Leino. In 2011, the app was acquired by a group of Nigerian investors represented by Verod Capital Management led by Eric Idiahi, who became the first CEO of Spinlet. Idiahi was succeeded by Neil Schwartzman who was in office from January 2013 to February 2014. The company's current Chief Executive is Nkiru Balonwu who was previously General Counsel and Chief Operating Officer.

Launch

Spinlet launched in beta in Nigeria May 2011. It was formally launched as an official product in 2013.

Spinlet So Far

  • Spinlet has acquired an Nigerian Communications Commission license that will allow it to sell content as callback tones in collaboration with Telcos.
  • Spinlet was recently appointed by the IFPI (International Federation of the Phonographic Industry) as Nigeria’s first ever manager for ISRCs - the International Standard Recording Code, an essential digital monitoring and revenue tracking tool.
  • Spinlet is also developing an application program interface (API) for businesses to enable them integrate the Spinlet service with their own online service delivery platforms.

    • Technical Information

    Spinlet’s software is proprietary software and provides audio content in the audio files formats where the audio is in 44.1 kHz sample rate, 16-bit per sample, stereo recording are:

  • AIFF PCM or WAV PCM
  • Free Lossless Audio Codec (FLAC)

    • Business model

    Spinlet operates under the freemium, model basic services are free, while additional features are offered via paid subscriptions). It makes its revenues by selling streaming subscriptions to premium users and advertising placements to third parties.

    Original Content

    Alongside being a curator of audio content, Spinlet has recently begun generating original video content (I Go Blow, Lyrically Speaking and The Spin Deck Show), which they currently host on their YouTube channel

    References

    Spinlet Wikipedia
    (Text) CC BY-SA