Davido Shares Plans To Buy Back Music Masters Before Retirement, His Reasons Draw Reactions
- A video of music star Davido sharing plans to buy back the rights to his music catalogue has gone viral
- The DMW label boss, who signed a record deal with international record label Sony Music in 2016, shared the reason behind his intention
- Davido's plan for his five children and family has also received applause from many of his fans and supporters
- In a chat with Legit.ng, an upcoming singer shared his take on the advantages of an artiste owing their music masters
Afrobeats superstar David Adeleke, better known as Davido, has disclosed plans to buy back the rights to his music catalogue from his international record label, Sony Music, before he retires from the music industry.
Davido, who is also the owner of the DMW music label, made this known on The Long Form podcast, where he spoke extensively about the importance of artists taking control of the business side of their music.
Source: Instagram
According to the Unavailable crooner, independent ownership of musical works is the most critical asset for any creative artist in the industry.
Davido also revealed the main reason for wanting to reclaim his music masters is to secure his children’s financial future.
The singer, who is a father of five children including Imade, Hailey, Dawson, and twins whose faces are yet to be made public, noted that once he secured full ownership of his songs, he intends to distribute the rights among them and his family so they can continue to earn long-term royalties from his hard work even after his retirement, thus securing their future.
“I have a good music contract. But the most important thing is ownership. I plan to get my masters back,” he said.
Source: Instagram
Davido originally signed a multi-million dollar global record deal with Sony Music in January 2016. He later signed a specific deal with Sony's RCA Records in July 2016. Since then, he has extended his working relationship and partnerships with Sony Music and its affiliates over the years.
In related news, Legit.ng reported that Davido revealed that he does not want any of his children to pursue careers in the entertainment industry.
The singer explained that his children will instead work in his father, Deji Adeleke’s companies.
The video of Davido sharing why he wants to buy back his masters from Sony is below:
Reactions to Davido's retirement plan
Legit.ng compiled some of the reactions that trailed the video; read the comments below:
wayveeofficial commented:
"Omo, he don secure him kids future already."
SENORTHEGOAT said:
"Do you know what it means to have the masters to all your song, wetin Banky W use wizkid eyes see."
Prof__Akinwale commented:
"So I will grow old and it’s Davido music i would want to pay money(subscription) to listen to? This guy delusion is on a KITE After the club, one cannot sit to listen to mediocrity not even at old age."
EmiliaOverall said:
"How come your baby mama Sophia, described how broke she once was, in her interview. If you cannot spare her some kindness, your wealth is not worth it. Its only worth the microphone you constantly brag on."
Owning your music masters is valuable - Upcoming singer
According to Phemz, an upcoming singer, owning music masters as an artist can be extremely valuable, but buying them back doesn't mean it is a profitable venture, as it depends on different factors like the price paid, the remaining potential of the catalog,ue and long-term plans.
"A buyback from the artist can be profitable if the price is reasonable compared to estimated future earnings or if the songs have licensing potential for films, TV commercials, and social media. Also, if the artist's popularity is still growing and the catalogue continues generating strong streaming revenue for many years. In cases where it is estimated that it may not be profitable, and the artist still goes ahead, it shows that the artist wants greater control over how the music is used and the buy-back becomes more of an emotional or legacy decision than a financial one," he said.
What CDQ said about Davido
Legit.ng previously reported that rapper CDQ bragged about his culinary skills as he went on to share his experience with Davido.
According to CDQ, Davido once reached out to him to come cook in his apartment in Dubai, a statement that sparked reactions online. He also disclosed demanding $10,000 to accept the DMW star's food request.
Source: Legit.ng
