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Just saw a record label give a new Nigerian act (No hit yet)
A house, A Porsche and a N10m cheque
Forget money for music & promotion
4 years from now, when she blows (if she blows), she'll be telling stories of how the label is trying to cheat her and social media will agree
A house, A Porsche and a N10m cheque
Forget money for music & promotion
4 years from now, when she blows (if she blows), she'll be telling stories of how the label is trying to cheat her and social media will agree
For those who don't understand why this may create friction in the future just need to think of these upfronts as a loan
Record labels are businesses not charities
So House (N75m) + Car (N40m) + N10m cash = N125m
+ Recording fees + promotion + etc
All will be paid + interest
Record labels are businesses not charities
So House (N75m) + Car (N40m) + N10m cash = N125m
+ Recording fees + promotion + etc
All will be paid + interest
So say the spend another N50m on you (Production, videos, styling, features, etc)
That's already you at -N175m before you even sell one stream or show ticket
Even if you get N3m/show
After all logistics and label cut have been removed
The rest will go into servicing your loan
That's already you at -N175m before you even sell one stream or show ticket
Even if you get N3m/show
After all logistics and label cut have been removed
The rest will go into servicing your loan
After 3 years and 50 shows under your belt
You're upset that the label only gives you N150k/month
"But I'm selling shows" you'll say
Label will now open account and show that you're still owing them N125m
"Why?" You scream
Then the remind you of your signing on largesse
You're upset that the label only gives you N150k/month
"But I'm selling shows" you'll say
Label will now open account and show that you're still owing them N125m
"Why?" You scream
Then the remind you of your signing on largesse
But in your mind, it's not possible because
1. You worked yourself into the ground doing shows almost every other week
2. The creativity is not like it used to be and the new kids are just
So you want to "daa si rough"
You hire lawyer and start spending the little you have
1. You worked yourself into the ground doing shows almost every other week
2. The creativity is not like it used to be and the new kids are just
So you want to "daa si rough"
You hire lawyer and start spending the little you have
