Nigeria afrobeat singer, David Adedeji Adeleke, well known as Davido, has disclosed that after starting his record label, he operated it for four years without collecting a dime from the artists.
Davido’s claim to running his record label, DMW (Davido Music Worldwide), for four years without collecting any money from any of his artists, is a bold statement to his support and dedication in nurturing talents.
Many artists often face financial challenges when they start their careers, and Davido’s support with his own record label, shows a sense of community and mentorship in the music industry.
Davido during an interview recently with American media personality Steve Stoute, said that he regarded it as a way to support the development and aspirations of his friends.
The DMW boss further stated that he has told his new signees that the music industry is a business and that money needs to be made, while he was speaking as a panelist at UnitedMasters Select Con 005 in New York.
“My label was really more like a family to me, I was young, to me I was just happy putting my boy on. I ran a label for four years and I didn’t take one dime from my artistes.
“I was paying for videos, I was paying for accommodation, I was paying for welfare. I was just happy seeing that my success could rub off on others. That was money to me.
Afrobeats got to a place where its global and I have to explain to the artistes “in these days this is business, to make money you gotta spend money”.