Why I Can’t Invest in Upcoming Singers – Zlatan
THECONSCIENCE NG reports that Nigerian rapper, Omoniyi Temidayo Raphael, popularly known as Zlatan Ibile, has said he would rather buy a house than invest in an upcoming artiste who may not become famous, citing the rising cost of music promotion as a major reason for his stance.
In an interview on the Afrobeats Podcast, the ‘Zanku’ hitmaker compared today’s environment with the earlier years of the industry, when costs were more modest and investors, including those outside music were willing to back young acts.
“When the marketing budget wasn’t serious, you still get people that are not into music but invest in labels and help young artistes,” he said.
“They put money into their music to support them, they set up labels for artistes to grow. But right now, the budget is outrageous, so I’d rather buy a house rather than put money on an artistes I’m not sure will blow up.”
Zlatan also reflected on his personal motivations, noting that financial stability remains the core reason he makes music.
“The reason I make music is for financial stability. My goal is to be responsible and financially secure. At the beginning of my career, I wasn’t balanced and suffered from pressure and anxiety,” he added.
Known for hit records including ‘Zanku’, ‘Shotan’, ‘Lagos Anthem’, ‘Omo Ologo’ and ‘Let There Be Light’, Zlatan rose to prominence after releasing his debut studio album in 2019. Before achieving fame, he worked as a bricklayer.
In 2020, he established Zanku Records, which has since signed artistes such as Papisnoop, Oberz and Jamopyper.
