Fewer Than 10 Artistes Truly Profit from Music
In a recent interview with comedian Teju Babyface, Animashaun said the Nigerian music scene is largely unsustainable for most artistes, noting that fewer than ten musicians in the country are genuinely profiting from their craft.
“A lot of artistes are not making money. You say artistes are making money. You can’t count ten that are really making money,” he stated.
He explained that only the biggest names and a few record labels are financially secure, while the majority are simply trying to keep up appearances in a highly competitive and economically challenging environment.
Low Streaming Revenue and Sparse Show Bookings
Animashaun highlighted poor revenue from streaming services as a major hurdle for artistes based in Nigeria.
“What you get from streaming in Nigeria is not what you get from streaming anywhere else around the world. It’s just peanuts,” he said.
Beyond streaming, he noted that live performance opportunities—another key income stream for artistes—are infrequent and insufficient, making it difficult for many musicians to sustain a stable income.
Appearance vs. Reality
According to the entertainment entrepreneur, many artistes maintain a facade of success on social media, but in reality are awaiting the next big break or endorsement opportunity.
“There are so many that are struggling to just, you know, look good and just see whether something big will happen the next time,” he said.
Animashaun pointed out that the pressure to project affluence has led many artistes into unsustainable lifestyles, creating a misleading image of the industry’s financial reality.
A Call for Realism and Strategy
In his closing remarks, the HipTV boss encouraged artistes to be more realistic about their position in the industry, urging them to explore international markets, diversify their revenue streams, or even consider alternative career paths if necessary.
His comments have sparked fresh conversations about the economic structure of the Nigerian music industry, particularly as it continues to produce globally celebrated talents but remains fraught with income inequality and systemic challenges for emerging artistes.