Opinion: Are Nigerian Entertainers Bad Businessmen?
Creating cool stuff for the public to enjoy is one thing. Making it count on your bank statement is another thing entirely. At the same time, charging in the millions now is different from earning billions in the future. Entertainers the world over have sought ways to convert their fame into raw cash, not only in the present day but for when fame dies out.
Nigerian entertainers are not left out. News of flashy lifestyles and bad investments constantly filter through the grapevine and some have even been properly documented. On the flipside, some entertainers seem to be making the right decisions as regards the future, but they are quite few and most of these investments are in real estate. At the SMWLagos this year, Chairman of Chocolate City Group, Audu Maikori and Obi Asika of Storm Records discussed multiple income streams that are available for Nigerian entertainers, from licensing to royalties to merchandizing. The main argument however, is that the Nigerian entertainment scene is not that developed. As this became more a matter of opinion than of fact, we decided to ask some industry people what they thought of our above question: do Nigerians do enough on the business side of their careers or are they just bad businessmen?
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