Davido, a popular Afrobeats singer, has stated that he operated his record company, DMW, for four years without receiving a penny from his artists.
Davido mentioned this in an interview with Steve Stoute, a US media personality.
After four years, the singer felt the need to educate them about the economic side of the profession as Afrobeats acquired global acclaim.
“You know my label was really more like a family to me. I was young. I was just happy putting my boy on to me, that is what it was really all about for me.
“I ran my label for four years, and I didn’t take one dime from my artistes and I was paying for videos, accommodation and their welfare just because I was happy seeing that my success could rub up on this person, that was money for me.
“But obviously, Afrobeats got to a point now where it is global. So I now have to explain to the artistes these days that this is music business. And you have to spend money to make money,” he said.
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