Ayo Animashaun, the founder of the prestigious Headies Awards, has opened up about the often-overlooked financial struggles plaguing the majority of Nigerian music artists.
In a candid interview with comedian and media personality Teju Babyface, Animashaun painted a sobering picture of the current state of the industry, asserting that only a tiny fraction of Nigerian artists are genuinely successful.
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Despite the global recognition Nigerian music has gained in recent years, Animashaun insists that the industry’s prosperity is mostly limited to a few top-tier stars and record labels.
“You can’t count ten that are really making money. A lot of artists are not making money. I know a lot of them, they really do struggle,” he said.
He emphasized that past fame is not a reliable indicator of present-day financial stability, noting that many once-prominent actors are now struggling to survive.
Speaking further, he noted that the local streaming market, offers meagre payouts when compared to international standards.
“What you get from streaming in Nigeria is just peanuts. It’s nothing like what artists earn in other parts of the world,” he said.
Beyond streaming revenue, Animashaun highlighted the limited performance opportunities for lesser-known artists.
According to him, many rarely get invited to headline or perform at major shows, and when they do, the compensation is often insufficient.
He asserted that this financial reality leaves a vast number of artists in survival mode, keeping up appearances while holding on to the hope of a breakthrough.
“While a few enjoy lavish lifestyles and make headlines, the majority are simply managing, trying to look the part and praying for a chance that may never come,” he noted.
Offering advice to upcoming artists, Animashaun urged them to be brutally honest about their current position in the industry.
He suggested that those facing constant setbacks might need to rethink their approach, either by tapping into more supportive markets, adjusting their strategies, or even exploring alternative career paths entirely.
“The industry may seem big, but only a few are truly made—and even fewer are consistent. If you’re in this industry, you must understand the phase you’re in and make wise choices. Flip the script if you must. Find spaces that appreciate and reward your craft better—or know when to pivot,” he advised.
