Davido, a prominent figure in the Nigerian entertainment industry, has disclosed how musicians earn their living.
The singer-songwriter who is equally a music executive and businessman spoke with the modern technology platform, Afrotech, where he disclosed that numerous Nigerian musicians and their counterparts across make their living from various ventures.
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Davido: Background Story
In the summer of 2011, Davido who is the son of astute businessman, Adedeji Adeleke came into prominence when he released, ‘Back when’ featuring rapper, Naeto C. Davido has since gone on to become one of the most impressive musicians in his generation.
Despite his success as a solo, Davido initially didn’t commence his music career as a musician, he was initially a producer.
Davido’s decision to follow his passion quickly proved worthwhile. His self-produced debut single, “Back When,” released in 2011, signaled the start of what would become a storied career.
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Afrobeats: How musicians secure the bag
Afrobeats has been recognised as one of Nigeria’s biggest exports. Entertainers such as Burna Boy, Tems, Wizkid and of course, Davido have been able to not only make a name for themselves globally but have also been able to influence and inspire both their generation and the burgeoning coterie of those behind them. Spearheading the genre and serving as one of the poster boys for Afrobeats, Davido is one of the highest earning performers in the Nigerian entertainment industry.
According to Spotify, the genre generated over 13 billion streams in 2022 alone. NPR adds that data from Luminate shows Afrobeats was among the fastest-growing genres in both the U.S. and globally in 2023, with streaming surging by a little over 26% that year.
Equally, Davido’s success in the genre has naturally led to a wave of endorsement deals over the years, including partnerships with Puma, GAC Motor Nigeria, and Pernod Ricard’s Martell Cognac as well as the smartphone brand Infinix Mobile, according to Forbes.
“If I show you how much I’ve made off my brand and just being a brand ambassador for these brands, boy, oh, boy. It’s been an amazing ride,” he admits.
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Davido, who earned his first major paycheck at just 17 years old, candidly shares that he “blew“ through the earnings from his first endorsement deal and did the same with the advance he received after signing with Sony Music Entertainmet, becoming one of the first African artists to land a contract with a major global label.
Davido described himself as being very young during a period of rapid life changes. He was generating substantial income from various sources, including performances and endorsements.
“So, the business side of things, I wasn’t really focused on it or paying attention to it until later on when Afrobeats became more commercial… I’ll say probably eight, nine years ago. Then we started paying more attention to the the paperwork.”
Now, with years of industry wisdom under his belt, Davido has made strategic decisions that are also benefiting those around him.
He launched his label, Davido Music Worldwide, which has signed at least 11 artists over time and empowered them in their artistry, guiding business deals, according to Forbes.
Davido has signed artists, including Toye, Boi Chase, Logos Olori and Morravey, eelive gathered.
