( CNN ) -- A group of tech-savvy entrepreneurs are setting out to rock Nigeria 's vibrant music scene by cashing in on the country 's booming mobile phone market . Founded by three university friends , MyMusic.com.ng is an ambitious startup aiming to be the major online distribution channel for Nigerian music . The new digital service is focused on providing an easy and affordable way for music fans to access their favorite songs , which are often hard to find in one place . `` We have no single source of aggregated Nigerian music of African origin , '' says Tola Ogunsola , chief executive and co-founder of MyMusic . `` So Africa is missing on the world map in terms of musical content -- so the potential is huge . '' Read this : 'Dropifi ' startup takes on Silicon Valley . MyMusic is designed to work similarly to other digital music stores , such as iTunes . But its payment options are largely catered to deal with the characteristics of the Nigerian market , which is mainly a cash only society . Mobile phone users can select the song they want to download and pay instantly for it using their credit . Songs cost 50 naira , or about 31 U.S. cents . `` When users click the pay by mobile button , the download is automatically initiated on their mobile phones and the fee is deducted from their mobile credit , '' explains co-founder Damola Taiwo , who is also the startup 's chief operating officer . Mobile boom . Nigeria , Africa 's second biggest economy , is one of the biggest and fastest growing mobile markets in the continent , with more than 100 million active subscribers . It 's this market that the young entrepreneurs behind MyMusic hope to tap , filling a musical void for the country 's cell phone users . Read this : Africa 's mobile tech startups . `` Mobile holds the biggest potential for us , '' says Taiwo , adding that more than 40 million phones in Nigeria are connected to the web . `` The majority of these users have their mobile phones as their only connection to the internet and any form of technology . '' Computer users can also download songs via the pay by mobile method -- entering their phone number on MyMusic 's website -- on top of the standard credit card and PayPal payment methods . From door to door . The startup 's three founders , who 've all studied computer science , say they have so far invested $ 45,000 of their own money into the business . They recently launched a test version of the platform at one of Europe 's biggest tech conferences -- the Web Summit in Dublin , Ireland . The Lagos-based team is now planning a full scale release of the service in February 2014 , targeting an initial offering of 5,000 songs . `` The goal now is to have a wide variety , '' says Taiwo . `` So from the up-and-coming artists to music of like 20 years ago or 30 years ago , '' he adds . Read also : 10 African tech startups you need to know . But to achieve that , and make the service successful , the young entrepreneurs have to put in a lot of leg work . `` What happens with most of these international sites is that they have a structured system where they can just go meet a record label and automatically get about maybe 100,000 songs , or as much as possible -- but in Nigeria , the structure is still growing , '' says Taiwo . Fellow co-founder Dolapo Taiwo explains that because most musicians in the country have their own record labels , the team has to approach each artist separately . `` Having to run after record labels one by one is a very big pain but I think it 's a pain that we 're happy to bear for now , '' he says . Turning problems into opportunities . Yet , going from door to door is not the only challenge faced by the developers of MyMusic . Finding outside funding in Nigeria has been difficult for the company , so the team is currently exploring international sources of investment to fund their marketing plan . Similarly , poor infrastructure and connectivity issues have both added to the challenge but failed to stop the entrepreneurs ' efforts . `` Every problem is a potential opportunity , '' says Dolapo Taiwo . For example , he notes , Nigeria 's bandwidth issues have prompted them to build `` very lean sites '' that offer users a trouble-free experience . `` Within two clicks you can download a song , so we 're trying to overcome that challenge , '' he says . Looking ahead , the team has high hopes for the company 's success and growth . `` We 're looking to having a pan-African approach to this as time goes by because what we 're actually solving is an African problem , '' says Dolapo Taiwo . `` A lot of Africans do not have access to formal banking methods -- we do n't have a lot of credit cards in Africa so we 're looking to deploy it across Africa . '' `` It 's a big vision for us and we 're going to push it through , '' adds Damola Taiwo .
MyMusic.com.ng is a new digital platform where Nigerians can access local music . Customers can pay for music with their mobile phone credit . The new platform is scheduled for full - scale release in February 2014 . Infrastructure , infrastructure and management are some of the challenges faced by the company .