Nigerian Afrobeats singer, David Adedeji Adeleke, popularly known as Davido, has revealed that after starting his record label, he operated it for four years without collecting a penny from artistes.
Davido’s claim that he has been running his record label DMW (Davido Music Worldwide) for four years without collecting any money from his artists is a bold statement of his support and dedication to developing talent.
While many artists often face financial hardship when starting their career, Davido’s support of his own record label shows his community and leadership position in the music industry.
In a recent interview with American media personality Steve Stout, Davido said he sees it as a way to support his friends’ growth and aspirations.
The DMW boss also said that while speaking as a panelist at UnitedMasters Select Con 005 in New York, he told new signees that the music industry is a business and they need to make money.
he said:
“My label was really like a family to me. I was young and I was just happy to have my son on it. I ran the label for four years, and the artists… did not receive a penny.
“I was paying for video, accommodation and welfare. I was just happy to see that my success could impact other people. It was money for me.
Afrobeats has reached global status and I have to explain to artists that these days it’s a business, to make money you have to spend money.
