Popular music artiste, Oluwatosin Ajibade who goes with the stage name Mr. Eazi has revealed his intentions to sell percentages of his streamed music and is inviting his fans to own equity shares of his music and stream to earn money.
He made his exploratory strategy for his music fans and investors to acquire shares in his songs known via a statement he made on social media on Wednesday.
Explaining further, he expanded that investors will acquire equity in his songs and earn income on streaming revenue.
He divulged that he has made it to 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.”
The good thing about this new agenda revealed by Mr. Eazi is that, should he be successful with his equity sharing plan, Nigerian investors will most likely have an indirect means to invest and amass earnings in foreign exchange in Nigerian Entertainment, and decreasing boundaries to access for Nigerian music investments.
In July some reports have it that Mr Eazi generated $20 million for his Africa Music Fund (AMF) to capitalize on the careers of African music talents.
He clarified that his expectation was to establish a new outlet to finance the music entertainment ecosystem in Africa, he also stated that the entertainment ecosystem is not appreciated by institutional investors in Africa and this results to barriers in sponsoring the industry.
Grace is a content and creative writer, social media manager, an author and the founder of Author’s media.