By Rita Okoye

For Solomon Ajayi, the founder and CEO of one of the leading digital media groups in Nigeria, Tree Money Yard Empire Ltd, known as TMY Empire, it is important for every brand owner to take good advantage of social media come 2024 for more visibility.

Solomon Ajayi, while reflecting on Nigeria’s challenging economy in 2023, said: “With my technology experience, I’ll advise everyone to invest more of their energy on social media platforms for their brands in 2024, rather than relying on offline platforms.”

The TMY Empire boss also added: “I believe the social networking industry is helping more than the country’s resources. Offline investment has a higher business risk than online investment. Do people notice that when inflation’s so bad, that is  when the biggest companies, for example, Amazon, make billions of dollars?”

Speaking about the economic growth of the TMY Empire conglomerate, he revealed that the business group’s economy grew by 72.9 per cent in the fourth quarter of 2022.

According to him: “The company made an unprecedented profit in 2022, as shown by its GDP, but it plunged into a recession in 2023 due to the country’s inflation.”

As for his TMY Music, also known as TMY Records, which he founded in 2010, he avowed that it has brought a lot of opportunities to the group, especially through its deal with American record companies.

 “In 2022, TMY  Records signed a successful record deal with one of the most famous Urhobo afrobeat artist, King Enakpodia, who recently featured one of the biggest songs in the country, “Money Talk,” he added.

TMY Music, he noted, also handled music production for many famous artists in Nigeria, while its sister arm, TMY Podcast, also rendered services for productions and albums.

On his vision for the Tree Money Yard Empire Ltd in the coming year, he said: “My desired goal for 2024 is to operate with a high standard of excellence in business organisation and effectively manage music licencing and copyright processes, song promotion, royalty collection, and key partnerships around the world.”