Renowned Afrobeats artist Davido recently revealed in an interview with US media personality Steve Stoute that he managed his record label, DMW, for a period of four years without taking any earnings from his artists.
The singer emphasized that during this time, his label operated more like a close-knit family, and his primary goal was to provide opportunities for emerging talent.
Davido’s commitment extended to financing music videos, accommodations, and the well-being of his artists, as he derived satisfaction from contributing to their success.
However, as Afrobeats began gaining worldwide recognition, he recognized the necessity to educate his artists about the business aspects of the music industry.
He elaborated, “You know my label was really more like a family to me. I was young. I was just happy putting my boy on to me, that is what it was really all about for me. I ran my label for four years, and I didn’t take one dime from my artistes, and I was paying for videos, accommodation and their welfare just because I was happy seeing that my success could rub off on this person, that was money for me. But obviously, Afrobeats got to a point now where it is global. So I now have to explain to the artistes these days that this is music business. And you have to spend money to make money.”
Established in 2016, Davido’s DMW label has been home to exceptional musical talents, including Peruzzi, Dremo, Mayorkun, and many others.
