No one knows the exact number of Labels that have come and gone in the past 20 years. But everyone knows one thing: Now you see them, then you don’t.
These guys are no magicians. So wetin dey happen?
1. Poor Funding: Everyone that has some little change and a cousin who’s an artiste thinks they are qualified to own a label. Then soon find out it takes more than peanuts and ‘swag’.
2. Unguided investment: Then they rent a house for the artiste, buy car, set up a full studio, do a photo shoot and embark on media blitz. Where’s the product please?!
3. Fitness: Artistes like to take a walk. Mood swing? Take a walk. Bad day? Take a walk. Delayed promises? Take a walk. Album not moving? Take a walk. Taking long to blow? Take a walk. Only bad thing is more often than not they don’t return from these walks. And in most cases there are no contracts, or a good legal system to drag them back by the neck. Ouch!
4. Poor talent: We all look for the music talents. But where are the skilled A&R people? The managers? Everyone the labels should be employing has moved over to Telco and Oil & Gas. Don’t even blame anyone.
5. Where’s the money? With a failed distribution system, poor rights compensation and non-existent opportunities to milk extensions, the labels are suffocating while artistes, to use the cliché, are smiling to the banks. How do I stay in business when the artistes I’m ‘sponsoring and promoting’ have suddenly become so rich while I’m still looking for bank loans?
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