Multi-award winning artiste and record label owner, D’banj was one of the speakers and panelists at the 4th edition of Nigerian Entertainment Conference(NECLive4), which held yesterday at Landmark Centre, Oniru Lagos.
During his presentation at the event, the Glo ambassador pointed out that the missing link in the Nigerian music industry is the lack of music publishing companies.
‘When I started 10 years ago, I thought I would only need to perform for the rest of my life. I thought once I can perform on stage, I will be rich for life. I have forgotten that publishing is Micheal Jackson’s biggest investment till he died. Michael’s biggest investment wasn’t in his shows, it wasn’t in his ‘Moonwalk,’, it was in his publishing,’ he said.
He went on to say that until there are publishing companies in Nigeria, artistes will find it difficult to get royalties as at when due.
‘It is the missing link for the digital world to ensure that the content owners get their money when it is due. We generate a lot of money, because the market is there, the demand is there, but please, we need regulation, we need proper monitoring, we need publishing companies in our country,’ he said.
While trying to explain what music publishing is for the benefit of those who do not now, the ‘Oliver Twist’ singer stated that, ‘A lot of people don’t know what publishing his, but let me tell you. Publishing is our own pension plan, but you don’t have to be retired or grow old to get your money. We need publishing company that can ensure that the artistes, the songwriters and composers get their dues.’
Speaking further, Bangalee as he’s fondly called said, ‘If we have this companies, this is when an artiste can continue to work knowing fully well that at the end of the day, the ROI(Return On Investment) will come. Then the mortgage bank can look at you and say, let us invest in you. Then the Bank of Industry can then look at us and say we have given Nollywood 3 billion, let’s give the music industry 5 billion because we have seen where we are going to get our money from.’
‘So in a nutshell, we as an industry, we are partnering with those that have done it; with Sony Publishing, Universal Music Publishing etc, to make sure that we create our own publishing companies in Nigeria that will ensure that our work, our sweat – we are seeing the worth of it in due time. Content is the new crude and publishing is the music-creating industry way of having our pension plan,’ he concluded.
Other entertainers who gave a presentation at NECLive4 were singer, Banky W and Nollywood actrees, Funke Akindele.
