‘Most music artist are not making money’, — Headies Award founder Ayo Animashaun claims

Ayo Animashaun, the founder of the prestigious Headies Awards, has shed light on the harsh financial realities confronting most Nigerian musicians, revealing that only a small number of top-tier artists and record labels are truly thriving.

In a conversation with Teju Babyface, Animashaun explained that while the Nigerian music industry continues to grow in global influence, the vast majority of artists face serious financial instability and career uncertainty.

He further revealed that lesser-known artists rarely get the opportunity to headline or perform at major shows, and when they do, their earnings are minimal.

As a result, many artists are left struggling to sustain their careers, maintain appearances, or fund their lifestyles, while only a few enjoy fame and wealth.

Animashaun described the industry as a difficult but evolving space.

He urged artists to be realistic about their standing, advising them to either explore more supportive markets, adjust their strategies, or consider alternative career options to stay afloat.

He said:

“A lot of artists are not making money. You say artists are making money. You can’t count ten that are really making money.

“In Nigeria right now? No, you can’t. The big names, the big names, the big names and a few record labels. Other than that, the other ones struggle.
They really do struggle. I know a lot of them. They really do struggle.”

“The industry may seem big but the ones that are made and there are not so many that are consistent. Some have made money in the past. Are they still making money now? And streaming.

“What you get from streaming in Nigeria is not what you get from streaming anywhere else around the world. It’s just peanuts. Just peanuts.

“How many shows, how many shows do the other artists that are not the big names headline or they even perform on? What do they give them? Where’s the money coming from? So, the few artists that are buying all the things in the world, they can do anything.

“There are so many that are struggling to just, you know, look good and just see whether something big will happen the next time. So, yes, the industry is emerging and if you’re in that industry, you have to understand the stage you are in the industry and either you go do something else or you flip the script probably have it somewhere else where they understand it better and they appreciate it more and they can give you more or stop doing it.” [CONTINUE READING HERE]>>>>