After a careful look into the Nigerian music industry over the past few years, we have something interesting to say to help Label owners avoid making such terrible mistakes.
Many top Record labels have failed terribly because they build their business around 1 major artiste instead of trying to grow all the artistes signed under the label.
It’s a sad thing to see the key act exit the Label without any better replacement available on ground. Things will start going bad and the reputation of the Label will start noise-diving and everything will eventually collapse.
We hope and pray to God to help struggling labels get back on their feet and we hope existing & new labels will also learn from this.
As Nigeria’s No. 1 Music and Entertainment Website, we present to you the Top 5 Record Labels That Went From The Top To Bottom (Hero To Zero) After Their Major Artiste Used The Exit Door.
1. EME Records – Wizkid
EME Records used to be one of the most powerful Record Label in Nigeria back then with a handful of talented acts signed under it.
EME Records was owned by Olubankole Wellington popularly known as Banky W. The label housed amazing entertainers such as Wizkid, Skales, Niyola, DJ Xclusive, Shaydee and few others.
Trouble started between Wizkid and EME in 2012 after they had issues with the way funds is being shared between both parties including the manager.
The issue was later resolved but not too long after, trouble started again in the camp which sees Wizkid finally exiting the Label.
EME Records gradually started losing their shine until the Label finally folded up after the Exit of Skales.
Shaydee and Niyola put in all their best to remain under the Label but was forced to move on away from EME.
2. KENNIS MUSIC – 2face
Kennis Music used to be the Most Successful Record Label in Nigeria during the early 2000 with the best artistes representing Nigeria on the Global map signed under the Label.
Kennis Music is owned by popular media mogul “Kenny Ogungbe” a.k.a ‘Keke’ and “Dayo Adeneyi” a.k.a ‘D1’.
The Label was well known all over the World for their good work in the Nigeria music space with millions of cash to throw around.
Trouble started in 2007/2008 when 2face Idibia made the famous exit from Kennis Music which badly affected the Label acceptance and reputation.
After 2face exit from the Label, the Label trie their hands on some other Artistes such as Olu Maintain, Jaywon, Kelly Handsome, Joe El.
They all tried to revive back the label but they are not lucky enough to get it back the way it used to be when they have 2face on board.
2face exit buried Kennis Music shine completely and disposes them of their Top spot.
The owner of Kennis Music now own & run a Radio Station in Lagos named Kennis 104.1 FM
3. MO HITS – D’banj
Mo Hits Records is not just the average definition of Record Label, they’ve got the juice, recognition, name it, they are the Best Label then with Artiste such as D’banj, Wande Coal, D’prince, Dr Sid, Kayswitch signed under the Label and they are all doing well.
Trouble started when D’banj decided to pay more attention on activating his Brand Internationally, things went sour between the Label boss ‘Don Jazzy’ and D’banj which officially ended the Reign of the Mo-hits empire.
D’banj left Mo-hits with his brother Kayswitch to form ‘DB Records’ and Don Jazzy left with other Artiste signed under the Label to form ‘Mavin Records’.
The rift between D’banj and Don Jazzy broke down Mo hits Record completely.
4. MMMG (Tripple MG) – Iyanya
TrippleMG was formed by Ubi Franklin & Iyanya in 2011 with Artistes such as Emma Nyra, Selebobo, Tekno, Basi and host of others signed to the Label.
Trouble started after Emma Nyra parted ways with the record label in 2014 due to personal reasons which includes dating Ubi Franklin.
Iyanya & Ubi Franklin incessant in-fighting and clash of decisions and loggerheads over finances and a lot of other key decisions on the running of the label ruin down the label totally.
In 2014, the label had to let go two artistes, Emma Nyra and Baci, which according to sources, did not go down well with Iyanya. Baci, most especially had a special bond with Iyanya, a friendship that had been honed over several years.
Also, Financial mismanagement issues are also a huge part of the disagreement. Things got worse during and after Ubi’s celebrity wedding to Nollywood actress, Lilian Esoro, in November 2015. It is believed that Iyanya is not in favour of the union, and the effect it has on the business.
Iyanya pulled out of the Label in 2015 with some other acts on the label using the door also, MMMG Record influence in the music industry nosedived and crash badly.
Today, the label is struggling to survive with nothing much heard about the then influential record label.
5. GWORLDWIDE – Kiss Daniel
This is the most recent of them all. The Exit of Kiss Daniel crashed Gworldwide business empire badly and ended their Reign as one of the most promising label in the country.
Kiss Daniel was signed to GWorldwide in 2013 on recommendation by his label mate, Sugarboy. According to investigations, the singer was signed to a 360 deal in Abeokuta, Ogun State.
Kiss Daniel’s problems with G-Worldwide started with the success of ‘Woju’. Investigations reveal that after the song began to gain traction early 2015, the singer demanded for an update on his contract.
A close source to the singer and his label revealed that Kiss Daniel approached the management of Emperor Geezy for revised contract to reflect his growth in the music industry.
After negotiations between the legal reps of both parties, his terms were updated starting from the first quarter of 2015.
In the initial deal, the singer was entitled to 30% of all the net profits from his performance fees. The record label was investing heavily at this point to ensure his newfound momentum was sustained.
Issues became worst between the Singer and the Label, they were unable to settle the dispute and this led to the Exit of Kiss Daniel from the Label which badly stepped down the Influence of Gworldwide in the Music industry.
Nothing special has been heard about the label in recent times except the signing of 2 new artistes “Easy Jay & Ajura”.
We hope Gworldwide get back on their feet soon.
Culled from Naijaloaded