It is has been a little over a year since Don Jazzy left the now defunct Mo’Hits label to form his own record label, Mavin Records. Since his departure, one thing has been clear. Don Jazzy is focused on wealth building, at an accelerated speed. As it stands let’s evaluate his streams of income, as made available publicly:
1. Endorsement deals – Don jazzy rakes in revenue from Loya Milk and Samsung, his most notable endorsements.
2. Producer Fees – Don Jazzy produces music for other artists and corporations. Don’t forget he produced the current Samsung AFCON2013 Anthem.
3. Mavin Records- Don Jazzy makes money off his label i.e. his artists Wande Coal, Tiwa Savage (co-branded deal/partnership here with 323 Entertainment), Dr. Sid and D’Prince. Technically, he would not really be turning a profit at this stage given how new Mavin records is. But, given the artists on his roster are arguably established names in Nigeria’s music industry and the initial investment was done under Mo’Hits, with the exception of Tiwa, these artists are an asset rather than a liability.
4. Pop Club Owner – This is a relatively new business so it is more of a liability at this stage. He has got to be able to recoup his investment capital. Nevertheless, the point is that he has diversified his portfolio to include other streams of income.
5. Clothing Line – Don Jazzy took to twitter, a few days ago, to announce the launch of his new upcoming clothing line. He expects to debut his line this summer and has begun soliciting models for his label.
6. Digital licensing/licensing – I believe Don Jazzy licenses his work to digital distributors as well.
Overall, not bad for a one year run.
The point? Clearly Don Jazzy is about his business and makes that unequivocally clear in practically all of his dealings. For you the AML artist, you should note this and take it as an example/blue print to follow in thinking outside the box for where your revenue will come. Needless to say, like Don Jazzy, you should be leveraging your music and personal brand strength to pull in other sources of income.
This becomes a necessity especially as you mature in the industry. You will not always be able to get on stage/tour for health or family circumstances beyond control. This is the time to begin planning for the future.
Sources of income in Nigeria’s entertainment industry to think about include:
1. Nollywood/African films
2. TV commercials
3. Fashion Shows
4. Television series theme song
5. Promotional videos
The list goes on.
On the games part, folks the game industry is HUUUUUUUUUUUUUUUUGE!!! It has always been huge. You the artist and the record labels that represent you should be soliciting and sitting with executives of these game companies to say, “look we can increase your bottom line in Africa’s market and it would be a win-win situation for all involved if we license our music to you.”
There is so much money to be made in Nigeria’s music industry alone and we have not really begun to tap into it, at all.
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