MI sells new album's distribution rights for N20 million | Welcome to Linda Ikeji's Blog

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Sunday, 12 December 2010

MI sells new album's distribution rights for N20 million

 
For the first time, a Nigerian artiste came clean on the financial value of his album. "This is not to prove any point, it's only to inspire someone that we are doing this. Mr Abhu can you step up please" said M.I, and with that intro, CEO Abhu ventures, a strong force in the Alaba 'conglomerate' presented a N20million cheque to M.I in exchange for distribution rights to his MI2 album through out West Africa. - Vanguard Newspapers

15 comments:

Ade_Cool said...

Doesn't sound like a lot to me hope he doesn't live to regret it..having said that better the devil you know..and guaranteed funds in that chaotic non existent business side of the music scene in 9ja!!

tplusf said...

wow!!!

Anonymous said...

Peanuts... Mr. Abhu, Abeg step up, what the hell! What it does though, is to tell entrepreneurs there is a massive market to tap into in terms of distribution in Africa! Which cant go wrong, you would make mills!

Anonymous said...

20 million naira only for his whole album? Either he was cheated or he has been soaking garri and pretending to be living large

Anonymous said...

Isn't that too cheap?..It's the second best album of 2010 after 2face's intl unstoppable.. and M.I. can't buy a bentley yet?

CC said...

Abeg all of una saying it's small money, your papa must be OBJ o. N20million is a good amount of money to make for distribution of your album in one region. At least he'll get paid, becuase his album would've ended up in Alaba anyways and he would have received zero.
Congrats to MI, driving a bentley isn't everything, but living your life to be an inspiration is. Congrats on living your dreams

skankmypeaceofmind said...

That deal is too poor for a musician of his calibre but its nice to know though

Anonymous said...

Wud u guys hav preferred he didnt do this and he loses everythin to pirates? Do u even kno wat happened to Tunde Kelani's Arugba movie? It myt seem small to u, but it's a sensible gamble. If other artistes follow this route, the stakes will become high...let's encourage positive news.

Nigerian Film and TV Addict said...

i thought ahbu also gave psquare like 70 million some time ago for one of their albums

9jaLife said...

20 Million is north of US$100k... So at least he gets that in guaranteed income, his label gets a percentage, he pays his management team, so he makes $50-70k... Not bad considering the fact that he gets to do shows and endorsements ..

bawse said...

m.i, c'mon this is a bad deal naa...20mill for west africa haba u don gawkkk!!! u've been cheated big tym 4 real..but hey look on the bright side, its the first hip hop album to sell for that much in 9ja...btw luving the album die on 2nd listen

doll said...

he would still do shows and get more cash. this is just from sales

Jero said...

Honestly, I think N20Million is way to small for the rights to distribute the Album of the "best rapper" in Nigeria across West Africa! C'mon, are we saying that the Nigerian Music Industry is under-developed? This sum can easily be made by fresh senator in a month. If this figure is correct,(which I still doubt) I think more emphasis should be done on growing and improving the standards of the industry.smh

truetalk said...

Sorry o but that number is fake. He didn't clear up to half of that. That's what naija people, especially our musicians, always do, they inflate everything. That 20mil was effizi. That's how when one musician says he got 3mil to perform somewhere, it's like 500k.

But it's all still plenty money o!

La Diva said...

thats too cheap menh...tuface was given 120 million....for this lastest album, now thats money

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