Industry News, Music Business

Industry News: Wizkid Cashes in on Nigeria’s Music Gold Rush, Now a Millionaire!

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Nigerian Entertainment Today reports emerging artist Wizkid has now joined a distinguished category of artists who command millions of Naira/thousands of US dollars &/or UK pounds. Congratulations to him. Nigerian parents reading this news in Nigeria’s local newspapers, I reckon, will probably be a lot more enthusiastic and supportive of their children pursuing a music career to cash in on the seeming  music gold rush. Obviously, a very small percentage of musicians achieve the kind of achievements Wizkid has achieved. But, this fact will be lost on many. While very exciting news that the music and creative industries, as a whole, offer a viable and lucrative career for Nigerians, it also creates a different kind of pressure to attain wealth and status, fast. This is based largely on the nature of the entertainment business.

No one wants to believe that when a musician shoots a music video, for example, the set, props etc. that he or she uses does not belong to him/her. No one wants to believe that with great editing software and a great editor who knows how to tell a great story, the editing of the footage shot can look like the star is bankrolling on some major dough (money) when in fact, it is simply far from the truth. Entertainment is about illusion and millions buy or are now buying into that illusion in Nigeria. We’ve got some  interesting times ahead . . .

“With a schedule that keeps him busy all week; and enquiries from all over the globe, Wizkid is currently one of the top 5 most wanted pop stars (others on the list include 2face Idibia, D’banj and Psquare) . And from an engagement fee of N500-700,000, his management has now upped his fee to a minimum of N1.5M. Big budget clients could be asked for up to N2M and N3M in some cases.

‘There are some weekends when he plays up to three shows. The boy is mad busy and his minders are making the best out of the boom‘, a top industry source tells us.

Wizkid is putting his money into use too, the 21-year-old recently acquired a VW convertible worth N6M (Six million Naira). He has also embarked on shooting big budget videos; starting with the trado-themed shoot for ‘Pakurumo’ on Tuesday November 1. The video was directed by Clarence Peters.

Monthly earnings, we’re told, now sits in the realm of 20M and upwards. . .” – THE NET

Photocredit: TCD Photogrpahy

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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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1 Comment

  1. when i see all this artist am very excited,am happy for them.I admire most of them for their effort,e.g Psquare 2face M.I an even ice prince.most of us have the talent here in comeroon but we have no sponsor pls help

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