How do musicians make their money in Nigeria?

How do musicians make their money in Nigeria? Nigerian musicians make their money from record deals, streaming platforms, music royalties, endorsement deals, partnerships, investments and more.

Who is the highest paid musician in Nigeria?

So, we’ve decided to compile a list of the 10 richest musicians in Nigeria along with their current net worth and a short bio.

  • Wizkid – ₦25 Billion ($63.3 Million)
  • Don Jazzy – ₦26.1 Billion ($65.3 Million)
  • Rude Boy – ₦26.4 Billion ($66.1 Million)
  • Mr P – ₦26.6 Billion ($66.6 Million)
  • Davido – ₦28 Billion ($70 Million)

How do musicians make their money?


Musicians make money from royalties, advances, playing live, selling merchandise, and licensing fees for their music. … If you don’t mind playing other people’s music, you may also consider being a session musician to earn some extra income.

How much does a record label pay an artist in Nigeria?

How Much Do Nigerian Record Labels Pay Artists in Nigeria. An average musician in Nigeria is head and shoulders above an average Nigerian citizen, financially. On average, a newly signed upcoming artiste is usually paid in the region of 3 million Naira to 20 million Naira, as signing fee by the record label.

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How do independent musicians make money?

Using distribution platforms such as TuneCore and CD Baby, independent artists are able to upload their music and collect 100 percent of publishing royalties due.

Is wizkid richer than Davido?

Davido’s estimated net worth is $16 million while Wizkid’s estimated net worth is $14 million: Davido is slightly richer than Wizkid. Davido, according to Hooper, was Nigeria’s richest Instagram celebrity of 2019, with each of his Instagram posts valued at $74,000 (N26.

Is wizkid richer than Davido 2021?

Going by the official net worths of these artists, Davido net worth is estimated at a staggering $70 million while Wizkid has a total net worth of $63 million.

How much money does 1 million YouTube views make?

1 million views — between $3,400 and $40,000 (6 creators)

Do musicians make a lot of money?

The majority of an artist’s revenue comes from touring, selling merchandise, licensing their music for things like television, movies, or video games, and partnerships or side businesses. Streaming is often thought of as the future of music and can provide artists with a nice source of income.

How many musicians make a living?

Less than 5 percent of musicians make a living…

Can you start a record label with no money?

As you can see, when it comes to starting a record label with no money, it all comes down to careful cost management. You will need some money behind you to really get going, but don’t write off your ability to do a lot of work in-house to save money.

How does Wizkid make money?

Star Boy Entertainment

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He is the owner of Starboy Entertainment. This has given him the leverage to make more money from his albums and performances without having to give major cuts to a label. He makes money from artistes signed under his label and other label business ventures.

How can I start a music career in Nigeria?

How Do I Start?

  1. Practice Feverishly. After writing a beautiful song the next best thing is to practice it all-day-every-day. …
  2. Find An Instrumental. …
  3. Find A Recording Studio. …
  4. Make A Video. …
  5. Promote Yourself And Your Music. …
  6. Find Gigs around Your Locality. …
  7. Hire a Music Producer. …
  8. Sell Tickets for Live Shows.

How do musicians make millions?

Let’s go over the most common revenue streams artists use to monetize their music:

  1. Earn streaming royalties through digital distribution. …
  2. Make money playing gigs. …
  3. Sell band merchandise online. …
  4. Collaborate with brands and other musicians. …
  5. Sell beats and samples. …
  6. Teach music classes or sell lessons.


How do 2021 Musicians make money?

No need to rely solely on music sales and touring to bring in the big bucks. Here are 8 more ways your music can make money in 2021.


  • User generated content, i.e. YouTube.
  • Social media posts.
  • Internal company videos.
  • Video presentations at events and conferences.
  • Professional wedding videos.
  • Podcasts.


How much does Spotify pay for 1 million streams?

On average, you get 3,222 USD for one million streams in the 18 most important music markets.

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