AML people, industry, we have spent this week discussing the Wizkid and EME breakup, with hopes they can sort out their issues or at least find a way to work on projects together in the future. It is, however, becoming quite evident that there is a slim chance of reconciliation happening.
Wizkid has stayed silent through this process, with the exception of his outburst on Twitter. Banky W has tried to control the situation with his words while his actions completely undermine his statements made to the media and the public.
A day after Banky W releases his track listing for his new album, R &BW, which has everyone on the EME label except Wizkid, Wizkid does a Jay-z like, “you better get that dirt of your shoulder” by releasing his music video below.
While he is featured on the music video, the logo of Star Boy Entertainment, a label he owns greets us in the introduction. Also, throughout the video, instead of his usual hailing of EME, he hails Star Boy Entertainment.Finally, his label is rumored to launch other subsidiaries including Star Boy Management, and a foray into merchandising.
I believe Wizkid has all it takes to be successful as a business and label owner. I also believe he will have a healthier respect for what goes into running a label as he becomes a full fledged entrepreneur.
2 OVERRIDING TIPS FOR AML ARTISTS
1. Break ups are not unusual. It is expected in showbiz and you should have an exit strategy even before you begin brokering deals and signing on the dotted line.
2. There is no need to focus on blame on who was wrong etc. If you decide you want to shift from an artist to an artist label owner, be prepared to be a business man or woman by having a sound business foundation. Someone else built the business you belonged to. Now it is your turn to build yours. What this means is that:
a) You want to choose a name for your business.
c) Trademark your business name/brand – You are gonna need to do this especially where licensing is concerned.
d) Hire a winning team to help you.
e) Sort out important legal agreements that will be necessary for all third parties you will do business with.
f) Of course the most important step is to consult your lawyer, first. This should be done in 2 (a) i.e. the beginning process.
Visit my article on how to start your own record label and best wishes with your new label.
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