Wednesday, 24 February 2016

Top 10 Richest Nigerian Musicians Under 40 (2016)

The criteria used to compile this list is, 1- the amount these musicians charge for shows, and 2- the gravity of the endorsement deals they have. We won't be using net worth's that are made up in someone's living room in this article, cos really, all those net worth's flying around are false. Also, Youtube views count for little. You get about an average of $1 from every thousand views of your video on Youtube (from third party Advertising). Which means you get around $1,000 if your video is viewed a million times. So, really, this is chicken change compared to what these artists make from shows. With that out of the way, take a walk with me.  Below is the list of the top 10 richest Nigerian musicians under 40.

10. Iyanya
Ever since he dropped Kukere, Iyanya has been unstoppable. He charges 3 million Naira per show in Nigeria. He mostly records party songs, which puts him in high demand for shows. His hit songs include- Kukere, Applaudise, Flavour, Mr. Oreo, Gift feat. Don Jazzy, Lekwa Ukwu, Sexy Mama feat. Wizkid, etc. He has endorsement deals with Zinox Computers, and MTN.

9.  Flavour
He charges 3 million Naira for Nigerian shows, and around 15k euros for european shows. He sings mostly love songs and this helps him get a lot of exclusive performances for the rich and famous. This also helps him get International shows, within and outside Africa. His hi songs include- Ada Ada, Chinny Baby, Ololufe, Wiser, Nwa Baby (Ashawo Remix), Oyi Remix feat. Tiwa Savage.

His endorsement deals include deals with Onga Seasoning, and GLO Nigeria.

8.  Olamide
He charges between 3-5 million Naira per show. With multiple hits like Bobo (Shakiti Bobo), Melo Melo, Eleda Mi O, Durosoke, Lagos Boys, First Of All etc, he is in very high demand for shows across the country. He also makes a lot of money from digital sales of his songs online, which adds up to a chunk as he is always releasing new songs that always do well in the market. He has released 5 albums so far since he got in the game in 2011. He also has a collaboration album with rapper, Phyno titled 2 Kings.

Olamide is also a label owner, and makes a % on all the endorsement deals, song & albums sales, and show money of artists under his label like Lil Kesh, Viktoh, and Adekunle Gold. This gives him an edge over other artists in the same caliber with him. He has endorsement deals with Guinness, Etisalat, and Sure Bet 24/7.

7.  Tiwa Savage
Tiwa Savage is signed to both Don Jazzy's Mavin Records and her husband's label, 323 Entertainment. She charges 3 million per show, and also makes an undisclosed amount when her crew, Supreme Mavin Dynasty (which includes Dr. Sid, Don Jazzy, Korede Bello, etc) do concerts. Tiwa's endorsement deals include deals with- Pepsi, Femi Otedola's Forte Oil, Maggi, Konga, MTN, and Pampers Nigeria (with her new born baby boy). She also makes a lot of money from the sale of her hit songs online, which include- Kele Kele, 'Love Me, Love Me, Love Me,' Eminado feat. Don Jazzy, Without My Heart, Ife Wa Gbona, Olorun Mi, etc.

6.  Tuface Idibia
He is one of the most talented musicians in Nigeria. Tuface charges 5-6 million Naira for Nigerian shows. Tuface has classic songs like African Queen, If Love is a Crime, Ihe Neme, and many more under his belt, and this gives him an edge in any era, and in which ever way the Nigerian music industry sways. He makes tens of thousands of dollars doing international shows, and also makes a lot off the digital sale of his songs. He doesn't really have notable endorsement deals, but he has invested heavily in the real estate industry and nightclubs, which brings in a lot of income for him. By the way, Tuface clocked 40 this year, but I had to squeeze him into this list.

5.  Wizkid
He charges between 4-5 million Naira for Nigerian shows. He is one of the hardest workers in the Nigerian music industry. Wizkid has hits for days, and this enables him get regular shows, and also make huge amount from his songs sale online. His hit songs include- Final, Ojuelegba, Caro, Pakurumo, Holla at Your Boy, On Top Your Matter, Expensive Shit, etc. His endorsement deals are with- GLO Nigeria, and Pepsi

4.  Davido
He charges between 3-4 million Naira for shows, and nd 20-30k dollars for outside shows; selling out venues from the U.K to America. Omo Baba Olowo is from a rich background, but he has made his own personal money and a name for himself. Since he came on the scene in 2012, he has had one hit or the other every single year till date. His hit songs include- Money, Aye, Skelewu, Gobe, Dami Duro, Back When, Ekuro, Owo Ni Koko, etc. His endorsement deals are with- MTN, and Guinness.

3.  Banky W
Banky charges between 2-3 million Naira for shows, but where he makes the most of his money is from endorsement deals and artists under his EME label. Yea, Wizkid left, but based on contracts signed, he is still making money off some of Wizkid's biggest songs. Right now, he has three major acts on the label- Shaydee, DJ Xclusive, and Niyola.

Also, Banky makes a lot off his own songs, as they are mostly evergreen (mostly love songs), they tend to keep selling longer than the usual hit song in the Nigerian music industry which have lifespan of 3-5 months. He has several hit songs like- Strong Thing, My RegretOmoge You Too Much, Yes/No, Jaiye Ori Mi, Till My Dying Days, Good Good Loving etc. As far as endorsement deals go, he is cashing in big time. He has endorsement deals with MTN, Samsung, and Ciroc.

2.  D Banj
The Koko Master charges between 6-10 million Naira for Nigerian shows. He might not have as many big hits as he once had, but his back-catalog is huge. His hit songs include- Fall in Love, Why Me, Tongolo, Mr. Endowed (original and remix feat. Snoop Dogg), Mo Gbono Feli Feli, Igwe, Oliver Twist, Scapegoat, Suddenly, Feeling the Nigga (feat. Akon), Emergency, etc.

As they say, talent is never enough. D Banj might not be one of the most talented artist out there, but he is a good entertainer and has good showmanship, which has helped him get numerous endorsement deals. His deals include the ones with Slot Nigeria (which came with monetary settlement and a Porsche Boxster), Heritage Bank, GLO Nigeria, Bank of Industry, Beats by Dre, and Ciroc.

1.  P Square
They make 10-15 million Naira for Nigerian shows (the highest for any Nigerian musician), and as much as $40,000 for shows outside the country. News just came in that GLO Nigeria has halted the renewal of the deal they have with the duo. This is probably based on the issues Peter Okoye is having with his manager/elder brother, Jude Okoye, which is affecting the group. Even at that, they have made a lot of money from the deal already, and are the richest musicians in Nigeria under 40...and they probably continue to be for a while, although there is a possibility of a split between the twin brothers in the very near future.

Individually and as a group, there endorsement deals include deals with- Olympic Milk (Peter Okoye), GLO Nigeria (the duo), Adidas Nigeria (Peter Okoye).

Honorary mentions include, Phyno, Yemi Alade, Chidinma, Dr. Sid, and Timaya.


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