Mr Eazi to Introduce New Method of Making Money from Streaming
Music entrepreneur, Mr Eazi has promised to introduce a new method of making money from streaming to music enthusiasts, including his fans.
In a series of tweets on Wednesday, December 9, 2020, the Afro-beat star said although the innovation, which will see fans having equity in songs they stream, will start as an experiment from him.
As an artiste who has been among the top 5 most streamed artitistes in Nigeria, Mr Eazi said he’s in good position to launch the innovation, as he maintained that the growth of African music should also benefit the fans.
His tweets read: “Gonna try an experiment on my next release where you guys the fans will be able to buy shares on My song! Meaning you will own an equity % on the song! As u stream & give me $ some goes back to You!!!
“I have consistently since 2016 been Top 5 most streamed African Artists & thats 100% due to my fans!! I love you guys!! And it’s time to get you in on the equity side!!!
“The growth of African Music must benefit us all, from the creators to the Fans!!”
Born Oluwatosin Oluwole Ajibade, the singer is known for always putting the African continent on the global map.
Recall that some months ago, Mr Eazi disclosed his intention to launch a N7.8 billion Africa Music Fund (AMF) to support emerging and existing artistes across Africa.
Through the AMF, the 29-year-old music star said he will be creating a new funding model for the music business on the continent.
In an interview with CNN, Mr Eazi said one of his primary motivations for funding music is to provide financial support for artistes, which he believes will expand their catalog.
“Many investors and financial institutions don’t understand the business of music and as a result, are unable to properly fund musicians.
“Artists cannot go to banks to get money for their music because financial institutions don’t understand how to secure intellectual property. They get it for physical properties but not for music. So, because not a lot of people understand the music business, there is no finance product for musicians,” he lamented.
