Recently, Forbes, a leading source for financial information, in conjunction with Channel O, a music channel, reportedly released a rating list of 2013 Top 10 Most Bankable/Richest Musicians in Africa, with Nigerian artistes clinching seven spots.
Forbes used factors such as endorsement value, popularity, show rates, sales, awards, YouTube views, appearance in newspapers, investment, social media presence, influence, etc, to compile its list.
Nigeria’s multi-talented musician, Don Jazzy, emerged the richest musician in Nigeria and number two in Africa, coming behind Akon, the Senegalese-American R&B/hip hop musician.
The singing and dancing twin brothers, Peter and Paul Okoye, who goes by the stage name P-Square, were second in Nigeria. Multi award-winning Dapo Oyebanjo, popularly known as D’banj, was next in the list, followed by music stars Wizkid and 2Face Idibia.
However, while it is obvious that the rating only examined artistes in the hip-hop genre of music, top rated and highly paid musicians in the other genre of music, including Juju and Fuji, were missing in the list. The likes of King Sunny Ade, Ebenezer Obey, K1 De Ultimate, Pasuma Wonder, Abass Akande Obesere, etc who have built wealth overtime through music, were not rated.
Also, how Forbes and Channel O came about the rating list calls for concern as some of the rated artistes said they were neither contacted nor were their assets evaluated.
The number 6th musician on the Forbes’ list, 2face Idibia, who was a special guest on a television programme, said recently that although he deserved to be on the list because he worked hard for his money, no organisation contacted him for information.
Asked about his opinion on the Forbes’ list, 2face said, “Nobody asked me for any information. I don’t know their criteria. I just know that I work really hard for my money.”
Full List of the Top 10
1. Akon – Founder of Konvict Muzik and Kon Live Distribution; promoter of other African artistes such as P-Square, Wizkid and Davido.
2. Jazzy –CEO Mavin Records; MTN, Samsung and Loyal Milk endorsements; Production credits for D’Banj, Kanye West, Beyonce and Jay-Z’s albums.
3. P-Square –Owners of Square Records; signed to Akon's Konvict Muzik label; record distribution deal with Universal Music, South Africa; they have recorded sold out concerts and have been presidential guests in at least five African countries. They fly private jets.
4. D’Banj –CEO of DB Records; G.O.O.D Music, Def Jam, Mercury and Sony Entertainment deals.
5. Wizkid –CEO of Starboy; EME artiste; the highest paid Pepsi ambassador in Africa; ambassador of MTN.
6. 2face Idibia –Recorded 10 million CD sales; seven million digital sales; UN ambassador For Youth And Peace; Associated with Guinness, Haven Homes, Airtel Worldwide; a philanthropist –Tuface Idibia Foundation.
7. Anselmo Ralph –Samsung and Coca Cola ambassador; perfume line; clothing label; multimillion dollar tour bus company; Sony Music Africa deal.
8. Sarkodie –Rapper; Ghana’s youth ambassador; Sark Clothing line; Samsung and Fan Milk Ghana ambassador.
9. Ice Prince –Recorded six million downloads; owner of two Studio, a member of One Foundation and Plug N Play ambassador; Zamani foundation.
10. Banky W –Co-owner of EME; Samsung ambassador; philanthropist.