'I ran a record label for 4 Years and never took a dime from my artists' - Davido

Davido launched the second version of his label, DMW 2.0, this year after working with stars like Mayorkun, Dremo, and Peruzzi.

The Nigerian Afrobeat sensation Davido made headlines for his remarkable revelation during an interview with Steve Stoute at United Master Selectcon 005. He shared that he has been running a record label for four years without taking any earnings from his artists.

Born David Adedeji Adeleke Jr., the Nigerian-born Davido has become a household name in the music world with his chart-topping hits and charismatic stage presence.

Davido's revelation came as a pleasant surprise to fans and industry insiders alike. He spoke passionately about how he founded and managed his record label, nurturing and promoting budding talents without taking any percentage of their earnings. “You know my label was really more like a family to me. I was young. I was just happy putting my boy on to me, that is what it was really all about for me," the artist explained.

While many might wonder why Davido chose this unconventional path, he explained that his motivation came from a desire to seeing his artists win. “I ran my label for four years, and I didn’t take one dime from my artistes and I was paying for videos, accommodation and their welfare just because I was happy seeing that my success could rub up on this person, that was money for me."

He also explained “But obviously, Afrobeats got to a point now where it is global. So I now have to explain to the artistes these days that this is music business. And you have to spend money to make money,” he said.

The artist's dedication to his label has proven to be a game-changer. Artists under his wing, such as Mayorkun and Peruzzi, have seen their careers skyrocket thanks to his unwavering support.