Afrobeats star, Oluwatosin Ajibade, popularly known as Mr Eazi, has announced an experimental plan for his music fans and investors to buy shares in his songs.
Mr. Eazi disclosed this in a social media statement on Wednesday, stating that investors will own equity in his songs and earn income on streaming revenue.
He tweeted;
Gonna try an experiment on my next release where you guys the fans will be able to buy shares on My song! Meaning you will own an equity % on the song! As u stream & give me $, some goes back to You!
Gonna try an experiment on my next release where you guys the fans will be able to buy shares on My song! Meaning you will own an equity % on the song! As u stream & give me $ some goes back to You!!!
— Uncle Njobvu (@mreazi) December 9, 2020
Giving insight into how profitable the idea would be, the singer expressed that he has been in the list of top 5 most streamed African artist since 2016.
I have consistently since 2016 been Top 5 most streamed African Artists & thats 100% due to my fans!! I love you guys!! And it’s time to get you in on the equity side!!!
— Uncle Njobvu (@mreazi) December 9, 2020
He stressed;
Imagine you had a % of my last song with Nicki or my new single “LENTO” with Jbalvin!!! As u stream u make it a hit, some of the $ comes to you! But, most importantly you are a true part of the Global Smash Hit you helped create.
Imagine you had a % of my last song with Nicki or my new single “LENTO “ with Jbalvin!!! As u stream u make it a hit, some of the $ comes to you! But most importantly you are a true part of the Global Smash Hit you helped create
— Uncle Njobvu (@mreazi) December 9, 2020
If Mr. Eazi is successful with his equity sharing plan, it will give Nigerian investors an indirect means to invest and earn in foreign exchange in Nigerian Entertainment, and reducing barriers to entry for Nigerian music investments.
