Nigerian Afrobeats star, Oluwatosin Ajibade, popularly known as Mr Eazi, announced an experimental plan for his music fans and investors to buy shares in his songs.
Mr. Eazi disclosed this in a social media statement on Wednesday. He added that investors will own equity in his songs and earn income on streaming revenue.
He disclosed that he has been in the list of top 5 most streamed African artist since 2016 and tweeted:
“Gonna try an experiment on my next release where you guys the fans will be able to buy shares on My song! Meaning you will own an equity % on the song! As u stream & give me $, some goes back to You! I have consistently since 2016 been Top 5 most streamed African Artists & that’s 100% due to my fans!! I love you guys!! And it’s time to get you in on the equity side.
“Imagine you had a % of my last song with Nicki or my new single “LENTO” with Jbalvin!!! As u stream u make it a hit, some of the $ comes to you! But, most importantly you are a true part of the Global Smash Hit you helped create.
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Why this matters: If Mr. Eazi is successful with his equity sharing plan, it will give Nigerian investors an indirect means to invest and earn in foreign exchange in Nigerian Entertainment, and reducing barriers to entry for Nigerian music investments.
What you should know
- Nairametrics reported in July that Mr Eazi raised $20 million for his Africa Music Fund (AMF) to invest in the careers of African music talents.
- He explained that his intention was to create a new platform to fund the music entertainment ecosystem in Africa, adding that the entertainment ecosystem is not understood by instuitional investors in Africa and leads to limits in funding the industry.