Share FacebookTwitterPinterestLinkedinWhatsappTelegramEmail 3.7K In a viral video on Twitter published by @OwnYourLeisure, an American music distributor revealed shocking insights into the financial flows within the Nigerian music industry. The distributor claimed, “But only 2% (2 billion Naira) of that money reached Nigeria. The reason is that most of the distribution companies Nigerian musicians use are based in the US or the UK since they don’t have the infrastructure in their country. When that money comes, they pay taxes of 40% in the US. The record label takes 30%, and when the money finally reaches Nigeria, it’s not even up to 10%. The industry has been built in a way that Nigerians work, and other people eat. They need to do something about it.” Afrobeats Made $100 Million In 2023, But Only 2% Of The Revenue Reached Nigeria pic.twitter.com/WddTW6VFHy — Earn Your Leisure (@EarnYourLeisure) July 30, 2024 This quote quickly went viral, highlighting how revenue from African talents is continuously leaving the continent. The revelation sparked discussions about the need for better infrastructure and policies to ensure more revenue stays within Nigeria. HOWEVER, there are alternative perspectives on the issue. More Articles You Would Love Hate Skirts? Check Out 22 Haute Trouser Looks For All Your Holiday Style Fantasies Served By Nigeria’s Ola Adewale All The Wedding Gown Styles And Their Meaning For The New Bride In some cases, Nigerian artists might be strategically investing their money in Western projects to yield more revenue, which would later be sent back. Additionally, many artists maintain their earnings in dollars to protect themselves from the volatility of West African currencies, thus safeguarding their financial stability. The lack of funds reaching Nigeria through official music payments doesn’t necessarily mean that artists aren’t bringing money into the country through other means or investments. The debate underscores the complexities of the global music industry’s financial landscape and the need for robust systems within Nigeria to support its artists and retain more of their earnings. follow Them Here follow Her/Him Here get The Look/Outfit Here Read More Like This On Nigeria Celebrity Watch VISIT OUR SHOP Hot Select options This product has multiple variants. The options may be chosen on the product page Quick ViewAdd to Wishlist Two-Tone Pleated Top Dress With Layered African Print Skirt $140.00 Hot Add to cart Quick ViewAdd to Wishlist African Print Wide Sleeve Maxi Wrap Dress $180.00 Hot Add to cart Quick ViewAdd to Wishlist Fohrella Short Sleeve Baroque Shirt With Kente Details $100.00 Hot Select options This product has multiple variants. The options may be chosen on the product page Quick ViewAdd to Wishlist Fohrella Sleeveless Negus Top + Press Fastening Leg Pant $70.00 – $180.00 Hot Add to cart Quick ViewAdd to Wishlist Mikoko Deluxe Two-Piece Halter Strap BikiniRated 4.50 out of 5 $70.00 Hot Add to cart Quick ViewAdd to Wishlist Mikoko Chiffon Print Oversized Batwing TopRated 5.00 out of 5 $70.00 Hot Add to cart Quick ViewAdd to Wishlist Sleeveless Bodycon Grecian Neckline DressRated 3.75 out of 5 $100.00 Hot Add to cart Quick ViewAdd to Wishlist Mikoko Chiffon Short Sleeve Knot Top & Wide PantsRated 5.00 out of 5 $90.00 UPCOMING PRIORITY EVENTS! VIEW ALL EVENTS To Submit stories Email: submit@FashionGHANA.com or HashTag #FashionGHANA Share FacebookTwitterPinterestLinkedinWhatsappTelegramEmail FashionGHANA Admin FashionGHANA.com is a Fashion PR Company, Events planning & management team as well as Africa's leading Fashion Media House. Get Intouch with us and let's see how we can help you grow. info@FashionGHANAcom More For You VIDEO: Watch How Thrilled Rihanna Was To Meet Nigerian Olympic Sprinter Rhasidat Adeleke... “Ghana Robbed Me & A Lot Of Other People That Trusted Them” Michael... 50 Cents Mocks & Weighs In On Diddy Arrest & The 1,000 Bottles... AUDIO: “UPPITY AFRICAN” Failed Rapper Verbally Chastises TYLA For Not Grinding & Twerking... VIDEO: Burna Boy Sends Two Nigerian Talents To Europe For Trials Shortly After... VIDEO: Pharrell Applauded For Handling PETA Protestor & Heckler At His Toronto Biopic... VIDEO: “There’s A Tendency To Group All African Artists Under Afrobeats” Tyla Schools... Charlie Dior & More Ghanaians Drill King Paluta For Using ‘OBRONI’ Girl In... Voice Of Lion King’s Mufasa & Coming To America Star, James Earl Jones... VIDEO: “Why Black Celebrities Get Whitewashed” Popular Youtuber Exposes Industry Skin Whitening From...