Rema will only get the smallest portion from the three million dollars he was paid for his performance at an Indian wedding few days ago…
Recently, Nigerian music star and “Calm Down” crooner, Rema made the news and trended for several days following the amount of money he was paid to perform at the lavish wedding ceremony of Anant Ambani, the last son of India/Asia’s wealthiest person Mukesh Ambani.
Many people were shocked to learn that the Edo state born singer was paid a huge sum of three million dollars ($3,000,000) just to perform for a couple of minutes at the said wedding ceremony.
But what many people don’t understand is that all that money won’t be going into the bank account of Singer. Yes, in fact, his former Record Labels, MAVIN Records (owned by Don Jazzy ) & Jonzing World (owned by D’Prince), will get a greater percentage of the money in question.
The singer is reportedly entitled to just 30% which amounts to about Nine Hundred Thousand Dollars ($900,000). The rest 70% goes to MAVIN Records and Jonzing World.
Before you start questioning why he will only receive that amount out of the whole money, know it that his globally hit song “Calm Down” was done while he was still signed to MAVIN Records and Jonzing World.
As such, the Record Labels owns the copyright to the song, and the earnings is shared based on the existing contract between Rema and his former Record Labels.
This is basically why most artists choose not to renew their contracts with a Record Label once they have hit the limelight. Like Rema did recently, and also persons like Wizkid left EME back then, Reekado Banks left MAVIN Records, Kizz Daniel left G-Worldwide, 2Baba left Kennis Music, and many others.
On the other hand, it is not necessary that these Record Labels are exploiting these artists. Rather, they have taken the risk to invest in a yet to ripe talent, and whatever be the outcome, Success or Failure, they are gonna take it that way.
So, don’t just be looking at the successful artists, there are others who flop as well, and the investment on the artist by the Record Label goes down the drain just like that.
Once again, understand that business is business, especially one guided by a professional agreement. And as a lover of greatness and success, I’m highly appreciative of all that MAVIN Records and Jonzing World has done for the career of Rema, and there will forever remain the pillar and foundation of whatever Rema has become today.
