The Afrobeats singer Davido claims he operated his record company, DMW, for four years without accepting any money from his artists.
In a recent interview with Steve Stoute, a US media personality, the megastar stated that he first ran his label like a family and engaged in the wellbeing of the artists without collecting any money from them.
He said he was happy to see that his success could rub up on his artistes.
He added that as Afrobeats gained global reception, he felt the need to educate them about the business side of the industry.
“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,” he said.
“I ran a label for four years, and I did not take one dime from my artiste and I was paying for videos, I was paying for accommodation, I was paying for welfare and just because I was just happy seeing that my success could rub up on this person, that was money for me.
“But obviously, Afrobeats got to a point now where it is global where now I have to explain to the artiste these days, this is music business. To make money, you have to spend money.”
Davido established DMW in April 2016.
In the last decade, the record label has served as the home to sensational music talents such as Mayorkun, Peruzzi, and Dremo.
In March, Davido rebranded his label to DMW 2.0.
Morravey and Logos Olori are two new artists signed to the singer’s record company.
Davido has established himself as one of the prominent figures in the Nigerian music industry, having received numerous accolades and honorary mentions.