Ace Nigerian singer and music executive, David Adeleke aka Davido, has revealed that when he established his record label, he ran it for four years without collecting money from any of the artistes.
He stated this in a recent interview with American media personality, Steve Stoute, and explained that he saw it as an avenue to help his friends grow and achieve their dreams.
Speaking as a panelist in New York during UnitedMasters SelectCon 005, the Omo Baba Olowo added that he has informed the new signees under DMW that it is a music business and money needs to be made.
Davido also said he was happy for his success to rub off on those in he signed to the music label in its early days, such as Mayorkun, Peruzzi and Dremo.
“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’”.
Watch video below:
“I ran a record company for Four years and never took a dime from my Artistes” – Davido
— Daily Viral Gist (@Dailygistz) October 15, 2023