Music Business

Davido Becomes First African Artist to Sign Multi-Million Dollar Global Deal with Sony Music, Thanks to Efe Ogbeni

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September of 2015, I shared a post titled ‘The Top 3 Entertainment Deals You Need to Know.’

Number two on that list was the Joint Venture deal with Efe Ogbeni. Here is what I had to say:

2. Efe Ogbeni signs a Joint Venture (JV) Deal with Sony/ATV: When it comes to being a respected A&R in Hollywood/America’s music industry, Nigerian-American Efe Ogbeni has definitely earned his stripes. He also wears many hats as an entrepreneur, record label owner and A &R for Enrique Iglesias, Quincy Jones and producer for Red One.

This is not the first time Efe is entering a JV deal. This deal, however, is a noticeable one since it involves one of the largest music publishing houses, Sony/ATV. So what does the deal mean? In English, it means Efe needs money/finance for his businesses and Sony/ATV needs his creative expertise, especially his A&R skills. Efe wants to use the finance he receives from investors to grow his publishing assets, among other things. However, he first needs to make himself attractive to investors. How so? By aligning himself with the brands that the kinds of investors he seeks, pay attention to. That is where Sony/ATV comes in. With this deal, Efe can now provide his A&R creative expertise to Sony/ATV, Sony/ATV in turn becomes the source of financing Efe seeks, among other things; and also receives a stake in the copyrights of the songs of the artists Efe will secure as part of that deal.

Fast forward to today and Efe gets to work by procuring his first major artist, Davido. Davido has signed a multi-million dollar record deal with Sony Music Global with a cash advance of $1million, thanks to Efe. The signing took place in New York and was witnessed by Davido’s brother Adewale Adeleke and his manager Kamal Ajiboye, Efe Ogbeni, Joel Katz, Esq., and Adam Granite (Vice President of Sony Music International). Davido also claims he is the first African act to sign such a deal.

All eyes on Davido, Sony, Africa, and of course Efe Ogbeni to see if this deal can in fact take Nigerian music to a global level. Folks, in the music business, you follow the money. And as I have said plenty times, Africa is where the next music frontier lies.

Congrats to Davido. Let’s see how it all shakes out.

Cheers,

Ms. Uduak

Davido Sony Music Deal

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Africa Music Law™

AFRICA MUSIC LAW™ (AML) is a pioneering music business and entertainment law blog and podcast show by Fashion and Entertainment Lawyer Ms. Uduak Oduok empowering the African artist and Africa's rapidly evolving entertainment industry through brilliant music business and entertainment law commentary and analysis, industry news, and exclusive interviews.

Credited for several firsts in the fashion and entertainment industry, Ms. Uduak is also a Partner and Co-Founder of Ebitu Law Group, P.C. where she handles her law firm’s intellectual property law, media, business, fashion, and entertainment law practice areas. She has litigated a wide variety of cases in California courts and handled a variety of entertainment deals for clients in the USA, Africa, and Asia.

Her work and contributions to the creative industry have been recognized by numerous organizations including the National Bar Association, The American University School of Law and featured in prestigious legal publications in the USA including ABA Journal and The California Lawyer Magazine. She is also an Adjunct Professor at the prestigious Academy of Arts University in San Francisco.
For legal representation inquiries, please email (uduak@ebitulawgrp.com). For blog related inquiries i.e. advertising, licensing, or guest interview requests, please email (africamusiclaw@gmail.com). Thank you for visiting Africa Music Law™.

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