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Revealed: Banky W’s Label Still Earns 80% From Wizkid’s First Two Albums — Forever

Wizkid's Early Record Deal: A Cautionary Tale for Aspiring Artists

In a recent podcast interview, entertainment lawyer Oluwayemisi Faleye shed light on the contractual agreement between Nigerian music star Wizkid and his former record label, Empire Mates Entertainment (EME), co-founded by Banky W and Tunde Demuren. Faleye revealed that EME continues to earn 80% of the revenue from Wizkid's first two albums, *Superstar* (2011) and *Ayo* (2014), while Wizkid receives only 20%. This arrangement, according to Faleye, is stipulated to last in perpetuity.

Faleye emphasized the importance of legal counsel when signing contracts, stating, "Upcoming artists need to be very careful and have competent entertainment lawyers review their record contracts before signing." 

Wizkid's experience is not unique in the Nigerian music industry. Many emerging artists have found themselves in unfavorable contracts due to a lack of legal guidance. For instance, fellow artist Asake reportedly signed a deal with YBNL without legal consultation, leading to feelings of being shortchanged and eventually departing the label. 

These revelations underscore the critical need for artists to seek professional legal advice before entering contractual agreements, ensuring they fully understand the terms and protect their long-term interests.


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