Eniola: A related question is how many people who own record labels actually know about the business? Do they actually know that all these variable ie PR, distribution etc are required for the artist’s success? Or do they just have loose cash and think music will be good business to invest in?
Tyeng: And do they even care…? Despite what the execs and artist are going through, We want good quality music, the we value enough to pay good money for.
Nike: They Don’t care. But that’s really a topic for another day.
Tobe: Are they getting enlightened before or after becoming Execs?
Uyi: There in lies the problem. A large percentage of them get enlightened and learn on the job.
Nike: Please give us examples of execs that are not in the music industry that are enlightened. It’s a case of where is my Money.
Tobe: Aha. So this means that they have some time to mess with one artist’s career at least, and use it as a scape goat.
The Octagon: We will end this conversation in 5 minutes. What last words would you share and probably give guidance to artists and music investors.
Tobi: Artists need to learn more about the business they are getting into with labels and Label owners need to be fair with respect with the valuation of the artists and the contracts they sign
Tyeng: READ the fine print before you sign. Get a lawyer and a gun.
Uyi: And also a Babalawo if neccessary!
Artists should be patient. The sun definitely shines when it’s morning (with exception to eclipse) so be diligent and patient enough to get the right deal.
Andre: Lol there are 170 million of us, and the dollar (our actual currency) is at N400 or close. Nah. Patience won’t happen.
Uyi: Andre!!! ????. The sky is big enough for everyone to fly. It all boils down to patience
Eniola: If you have a gun too, you definitely need a lawyer. A criminal one though.
Tobe: On a last note, don’t go in blind or with outlandish expectations. Set practical mile stones and agree on terms that clarify the workings to these miles stones. Greed on the part of investors and artists it the root of the ‘evil’.
Andre: The music business is a BUSINESS. Lose your blinders and split your resources and or networks into two engagements to begin with – one help you make quality music and or creative content, the second to represent your financial returns and the negotiations that lead to them. Record and endorsement contracts should NEVER be undertaken without a lawyer and financial agreements shouldn’t be accepted until an accountant casts his vote in favor. You can be naive, the labels most assuredly won’t.
Eniola: Thank you very much guys. Its been an absolute pleasure. Should you need any advice on your intellectual property matters i.e. trademarks registration, copyright and patents, I am one call away. Should you also know a struggling artist who needs advice, I am willing to provide this advice pro bono.
There is a sound coming out of Nigeria, that is influencing the world. Its is called “afrobeat”. If you do not believe in Nigeria, listen to One Dance. It was No. 1 in the UK for 13 weeks running and it is largely afrobeat. But Nigerian artists cannot benefit from the fruits of their labour or indeed continue to be creative and innovative unless they start getting their just rewards through the protection of their intellectual property rights.
It has been a pleasure discussing with you all. God bless you and have a great week!
Nike: My advise is …. Be smart
Tobe : Have a fabulous evening and let’s say a prayer for the music industry.
Tyeng: Thank God this topic wasn’t Nollywood… We’d be here forever. I’d just die.
The Octagon: Thank you for making out time to be our guest.Pages: 1 2 3 4 Tags: artist, business, contract, Industry, investor, label, music, PR, record, social media