There is the belief that Nigerian labels are always looking to exploit artists unfairly for gains. Label executive, Obi Asika has said it is not often so.
The label exec, well-known for being part of Storm Records, claimed in an interview that there is lack of integrity in the music industry instead.
Asika said most times labels invest heavily on artists, despite the minimal possibility of recouping the investment.
“I don’t know a single label that has ripped off an artist in the last ten years. That’s not possible,” Obi Asika stated.
“Because the labels are basically putting money in promotion to push out the artist and you know that you’re not going to make money on sales.”
He said artists often leave the label high and dry when they reach limelight as they start to breach their contracts and move to terminate the contract.
“And that’s not the agreement that was made; that is not the contract. That’s why most of the labels don’t exist anymore. How do you invest in something that won’t get you any money?”
Obi Asika maintained that artists are desperate whenever they are looking for a big break, but when they get it everything else cease to matter.
“integrity is a key issue. People, when they’re coming up they’d do anything, go and ask anybody, ask they OAPs: they know what it’s like when the young artists are trying to get their video on TV.”
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