Trace TV launches East African hub targeting millennials and young adults
Urban music television and entertainment network, Trace TV, has finalised the acquisition of a 70 per cent stake in Qwetu Radio.
The deal that commenced with talks in September 2018 now gives the French TV network a foothold in the highly competitive urban radio entertainment segment in Kenya.
Following the acquisition, Trace has set up its East African hub in Westlands, Nairobi, that will be led by Danny Mucira as the managing director for the East Africa cluster.
Trace also launched the newly branded Trace Radio 95.3 FM, a music-only radio station. According to Olivier Laouchez, the co-founder, chairman and chief executive officer of Trace Worldwide, the company inherits Qwetu Radio’s estimated 4 per cent market share in the urban music and entertainment category in Kenya.
“Our vision is to increase this, to become the music radio market leader in Kenya by 2022. With Trace Radio 95.3, we are currently working to build a sustainable business model after which we will introduce a diverse range of products and platforms targeting the growing interest in urban music and entertainment culture in Kenya,” he said.
The new products, Trace Radio 95.3 FM Trace Gospel and Trace Play now join Trace Mziki which is already available in the East African region. Trace Mziki that controls about 66 per cent market in the Kenya music TV category is currently available on DStv, Azam, Zuku and StarTimes.
Plans are also underway to launch Trace Academia, a free educative and creative online portal aimed at empowering youths to explore their gifts and potential in the creative arts sector. The Academia will try to leverage adaptive learning technologies to inspire and empower the next generation of creative entertainment and cultural artists.
Speaking during the launch of the hub and Trace Radio, Aline Kuster-Manager, the France Ambassador to Kenya, said Trace plans to invest locally in Africa with local staff and partners.
“Kenya is indeed a key priority country for Trace in Africa and as the ambassador, I am keen to further, engage on how best to harness the creative and cultural industry between Kenya and France,” she said.