Against the anticipation of year-end festivities and entertainment events across the nation, the appearance fees being requested by Nigerian music artistes may scuttle these annual revelries. It was gathered that the outlandish appearances fees have become a source of concern for show promoters and event organisers, including corporate entities.
With hypemen and DJs also imploring celebrated musicians to reconsider their exorbitant charges, lest they face the harsh reality of dwindling show invitations, it appears some of the end of the year shows that usually usher in the festive season may be threatened this year.
A source who is familiar with show bookings for artistes in a popular media agency told R that shows that signal the end of the year may not follow similar pattern this year due to biting economic conditions that have crippled many businesses across the country.
The source said the current mood within some of the corporate brands sponsoring the shows does not suggest that a majority of them will release funds like they did in previous years because they are currently dealing with “economic meltdown that has hampered business activities and cash flow since the beginning of the year”.
They are said to be worried that music artistes have suddenly become too expensive to get, because they now charge clients in dollars, and theses organisations may resort to engaging the services of DJs for their shows.
It was learnt that the soaring popularity of music artistes amid windfall that daily flows in from streaming platforms have sent their appearance fees skyrocketing, leaving show promoters and event organisers gasping for financial breath.
Many of the promoters, it was gathered, are grappling with the daunting reality of no longer being able to afford the sky-high fees demanded by high-priced artists,
Findings by R revealed that household names like Davido, Wizkid, Burna Boy, Olamide, Tiwa Savage, and Kizz Daniel now command fees that reach above the staggering threshold of 90 to 120 million naira to perform in Nigeria. The fee may increase further depending on the event’s location and the affluence of the clientele.
It is also worthy to note that music artistes now demand payment in foreign currencies, especially dollars for their performances within Nigeria, a country where the naira reigns supreme as its legal tender, forcing many show organisers to search for dollars to pay or risk not having them perform.
Investigations by R also showed that many music artistes usually pick November and December for their yearly concerts but as of now and with the year almost rolling to an end, none of them has announced a date for their end of the year concert.
The fear that many headlines sponsors who would naturally throw their weights behind such concerts in order to leverage on the artiste’s popularity strength may not be willing to do same this years.
It is believed that the financial burden of sponsoring the shows and paying artistes to perform is not a venture they want to carry at this crucial time of the country’s dwindling economic fortune.
R reliably gathered that some music concerts that usually rock the city of Lagos will not happen this year.
Artistes now charge in dollars
The Chief Executive Officer of Cole Management Services, Adeshola Adefuwa-Cole, during a recent interview gave insight into what Nigerian top music acts charge per event, both at home and abroad.
According to him, top Nigerian music stars love to charge in dollars, either at home or abroad to keep up with the world’s market forces.
“Currently, BurnaBoy is number 1 as he charges 1 million dollars or more per show. Wizkid charges between 800 thousand dollars to 1 million dollars. Davido is in third place and he charges around 500 thousand dollars, followed by Olamide who also charges 500 thousand dollars” says Cole.
He said besides the fixed performance fees charged, there are other things to be taken into consideration as the artistes make other demands for themselves and their crew as part of convenience for the show.
“Let’s take Wizkid for an instance; you have to take care of the flight, mostly a chartered flight.The booking must be confirmed before the contract is signed and it must be one business class and 6 economy return tickets from Lagos. For accommodation, it is one penthouse suite, one premium suite and ten single standard rooms.
For instance, Davido recently presented Warri Again concert organizers for its 19th edition with a jaw-dropping bill of $120,000 as his appearance fee and logistics. He was said to have been paid but never showed up for the event. The organizers and Davido are said to be at each other’s neck over alleged breach of contract.
The list of high-fee artistes extends to Asake, Zlatan, Mayorkun, Harrysong, Naira Marley, Falz, Rema, Fireboy, Simi, Adekunle Gold, Wande Coal, Patoranking, and others, who now command a princely sum of up to 30 million naira for a single show. Those in the 15 million naira range include Joeboy, Omah Lay, Ayra Star, Victony, Victor AD, Iyanya, and Skiibii.
It was observed that artistes whose songs achieve monumental success throughout the year leverage their newfound fame to hike their appearance fees, leaving event organizers and corporate entities to dig deeper into their pockets to secure their presence at events and parties.
A stakeholder in the entertainment industry and an on air personality, Osi Suave in his reaction to the development said when you pay 100 million naira to secure the services of an artiste for a show and 60 million naira to set up EKo Hotel and another 10 million naira for logistics, publicity and miscellaneous, one has expended 170 million naira even before the show starts.
Djs, hypemen come in handy:
With the emergence of alternative entertainment options, such as DJs, hypemen, organisers are beginning to explore more cost-effective ways to engage their audience. These alternatives offer engaging entertainment without the hefty price tag associated with A-list artists.
In the face of this price spiral, top hypmen, led by the Do2dtun, also known as the Energy gad, have rallied their fellow DJs to adapt and reconsider their price structures. They are now prepared to take matters into their own hands, vowing to perform the songs of artistes who refuse to agree to more reasonable terms.
Artistes priced themselves out of reach:
Also reacting to the unfolding drama, well-known event organiser and CEO of One Africa Music Fest, Paul Okoye, also known as PaulO, posited that while live concerts are witnessing a global decline, music streaming platforms are experiencing an unparalleled surge in popularity.
He asserted that Nigerian artistes have rendered themselves virtually unaffordable in the local market due to their exorbitant booking demands.
“Concerts are declining globally but streamings are increasing. It seems to me that Nigerian music artistes have priced themselves out of the market. I feel some of them will be forced to reduce their fees or be left out of the game.
“No one is ready to pay artistes high fees anymore because people are not interested in coming to concerts anymore. In fact some people will tell you, give us DJs and hypemen for the concert, we are fine all day. So, it is either somebody reduces the prices or lose out totally”, he added.
Music fans wade in…opt for alternatives
The prevailing narrative also provoked responses from music enthusiasts who believe it’s time event organisers to explore alternatives by focusing on DJs for their shows, thereby steering clear of artistes who place a heavy burden on their budgets.
For these fans, it is an uncompromising stand: “If artistes do not heed the call to lower their prices, they are prepared to abstain from attending their concerts this year.
“Some artistes may find themselves performing before a select audience of friends and family within the confines of their own homes”, a fan said.
Why organisers are having a rethink:
One of the most factors behind this change is the prevailing economic condition. In an era marked by economic uncertainty, rising costs, and fluctuating currencies, event organisers are treading cautiously. With businesses and budgets under pressure, the willingness to allocate substantial resources for artist fees has dwindled.
Attempts to speak to some of the artistes on their stance on the raging issue didn’t yield as some of them chose to remain silent, leaving the question of whether this is the beginning of a price correction in the Nigerian music industry unanswered.
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