Nigerian artist and businessman, Mr Eazi has revealed the plan for the 18 months for his company, emPawa Africa and how they will execute it.
Via a post on his verified Twitter page on the 22nd of March, Notifying fans about his plan, Mr Eazi disclosed that he won’t be signing any new act at least for the next 18 months.
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Rather, his company (emPawa Africa) will only invest in content & provide artist advances up to 200% of past annual streaming revenue (averaged) in partnership with a bank. He wrote;
‘Wont be signing any artists for the next 18 months! @emPawaAfrica will Only investment in Content & provide Artist Advances up to 200% of past annual streaming revenue (averaged) in Partnership with a bank. More To Come”
Meaning if you own your own content and have proof of earning x annually from the previous year, you can get up to 2x of That as a royalty advance with @emPawaAfrica
— Ajibade 👑 (@mreazi) March 22, 2021
He further explained what the above tweet meant for content creators;