The Business Empire of Afrobeats Icons: Building Wealth Beyond Music

Afro-pop icons are not just music sensations but also business moguls building empires beyond the realms of music. Take the Nigerian superstar Burna Boy, for instance. Known for attracting luxury brands like Burberry and Jean-Paul Gaultier, Burna Boy has transcended music to the world of fashion, designing Bluetooth headphones for Nigerian brand Oraimo.

His contemporaries, Davido and Wizkid, are no strangers to hefty paychecks, commanding between $500,000 to $1 million per international concert. Wizkid recently headlined the Rolling Loud festival in Toronto for a reported $1 million.

These collaborations with luxury brands are not exclusive to male artists. Female stars like Shakira and Tiwa Savage have also found success in endorsing brands ranging from fashion to beauty products, showcasing a diverse business portfolio.

Furthermore, artists like Mr Eazi have ventured into the realms of online gambling, turning a $6 million deal with the Ghana Premier League into a controlling stake in its parent company, Softpawa. Mr Eazi’s diverse investments include sports teams and gaming platforms.

Not confined to music or fashion, stars like Oxlade and Bella Shmurda have leveraged opportunities in the publishing business, gaining exposure and revenue through international collaborations. More so, TikTok has emerged as a key platform for artists like Oxlade, Ayra Starr, Rema, Libianca, and 1da Banton to reach millions, generating royalties and facilitating the viral spread of their music.

These ventures showcase a shift in the traditional music business model, with young talents like CKay setting records on streaming platforms. CKay‘s track has become the first African song to surpass a billion streams, signifying the evolving landscape of the music industry and the financial opportunities for emerging artists.