Four years of running my record label without earning a single penny – Davido

Multi-award-winning artist, Davido, has opened up about his four-year stint running the DMW record label without reaping any financial rewards. He shared this revelation during an interview with American media personality Steve Stoute at the UnitedMasters SelectCon 005 panel discussion in New York.

As a recent father of twins, Davido explained that he viewed his record label as a platform to nurture and support the growth of his friends, assisting them in reaching their dreams.

The acclaimed singer, best known for his hit “Unavailable,” delivered a crucial message to the new signees under DMW, stressing the importance of recognizing the music industry as a business that necessitates revenue generation.

Furthermore, Davido expressed his joy in witnessing his own success positively impact those he initially signed to the label, such as Mayorkun, Peruzzi, and Dremo.

“My label was more like a family to me. I was young and just delighted to support my friends. For four years, I didn’t take a single penny from my artists. I covered expenses like music video production, accommodation, and their well-being. Seeing my success benefiting others was priceless to me.”