The Nigerian music industry has been a raving success with artists finding various means of making money such as streaming, endorsements, and merchandise marketing.
However, the performance fees of Burna Boy, Wizkid, Davido, and Olamide have gone viral with Burna Boy topping the chat.
It’s worth knowing that the performance fees remain a crucial part of their income. However, with the rise of Afrobeats, artists have been commanding higher fees for their performances at events, shows, and concerts.
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The CEO of Management Services, Adeshola Adefuwa-Cole, has disclosed that most top Nigerian music stars prefer to charge in dollars, either at home or abroad, to keep up with the world’s market forces.
He however revealed what some of the top Nigerian music acts charge per event.
According to Adefuwa-Cole, “Burna Boy is currently the Top Nigerian artist to command the highest performance fee, charging 1 million dollars or more per show.
“Wizkid charges between 800 thousand dollars to 1 million dollars, he also revealed the charging fee of Davido and Olamide, stating they both charge around 500 thousand dollars per show taking third place.
Speaking further, he also said that aside from the fixed performance fees, other considerations are made as the artists make other demands for themselves and their crew as part of convenience for the show.
He explained further using Wizkid as an example, he said, Wizkid requires a chartered flight must be provided, with one business class and six economy return tickets.
The fees charged by the top Nigerian music acts are influenced by many factors, including the location of the event, the size of the audience, and the artist’s popularity.
He added, “The booking must be confirmed before the contract is signed and it must be one business class and 6 economy return tickets from Lagos. For accommodation, it is one penthouse suite, one premium suite, and ten single standard rooms.
For Per-diem or daily allowance, it is $300 (Artiste), $200 (Manager), and $100 (crew) daily per person. And also, ground transportation and security must be provided,”
@jerwmy reacted: “We knew he would top the chart. Not called Odogwu for nothing.”
@savannah said: “Nice one. Money-making machines.”