Davido expressed his view that his record label, DMW, served as a platform to support his friends’ growth and help them achieve their aspirations in the music industry. The renowned artist, known for hits like “Unavailable,” emphasized to the new signees under DMW that the music industry is a business that requires revenue generation.
Davido also shared his happiness in seeing his own success positively impact those he initially signed to the music label, such as Mayorkun, Peruzzi, and Dremo.
In a recent interview with American media personality Steve Stoute on a panel discussion in New York at UnitedMasters SelectCon 005, Davido disclosed that he ran his record label, DMW, for four years as if it were a charity home for artists. He mentioned that he didn’t take a single dime from his artists during that time and was happy to invest in their careers, covering expenses like videos, accommodation, and welfare.
He noted that Afrobeats had reached a global stage, and he had to explain to the artists that the music industry is a business where you have to spend money to make money. This insight sheds light on the evolving dynamics of the music industry and the approach artists take to support emerging talents.
Watch the video below …