During a recent panel discussion with American media personality Steve Stoute on UnitedMasters SelectCon 005 in New York, superstar Afrobeat singer Davido Adeleke revealed how he ran his record label DMW for four years like a charity home for artists. Davido expressed that he saw his record label as a platform to support his friends’ growth and help them achieve their aspirations. However, he also emphasized to the new signees under DMW that the music industry is a business where revenue needs to be generated. Davido is known for his hit “Unavailable” and has signed artists such as Mayorkun, Peruzzi, and Dremo. He shared how happy he was to see his own success positively impact those he initially signed to the music label. He said, “My label was really more like a family to me. I was young, and 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 artists. I was paying for videos, accommodation, and 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 it’s global, and I have to explain to the artists ‘in these days, this is business, to make money you gotta spend money'”. You can watch the video below.
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