The source pointed out that since
Ayodeji Balogun known as Wizkid signed with EME, he has been getting just 25%
from whatever he gets paid to perform at an event with Banky W's Empire Mate
Entertainment. EME is owned by Banky W and Segun Demuren who get 50%; and
Osagie, Wizzy's ex-manager who introduced him to Banky after big record labels
like Mo-Hits and Storm records rejected him, also got 25% from his hard earned
money.
“It is true they are having problems and this might just be the end of EME and Wizkid. When Wizzy signed his first (and last)contract with EME late in 2009, he saw Banky as his messiah because he was nobody in the music industry. It was a 75-25 sharing formula.
Then Wizkid didn’t mind because he was
bent on building his musical career. In his contract, Banky W promised to take
care of his accommodation, feeding and also his school and based on this fact,
Wizkid accepted all the terms of agreement. Later, Wizzy sacked his manager,
Osagie replacing her with Godwin because he felt she was getting too much.
Wizkid was getting just 25% from every show because EME would take 50% while
Osagie was taking 25%." Says an inside source.
Wizzy sacked Osagie because she was not
ready to receive 10%, but it doesn't end there. He was also having problems with
Osagie who refused to come to terms with the fact that he was no longer the boy
she picked up 4 years ago and couldn't be bossed around. The two had a bad
falling out during which things deteriorated to the point where they began
calling each other names. After the fight, he sacked Osagie. This development
did not go down well with Banky W but because Wizzy was close to the end of his
contract with EME, he gave in. Osagie was replaced by Godwin, who works for EME,
and still continued too get 25%. So till the expiration of the old contract, 75%
was still going to EME, while Wizkid made do with 25%.
When Wizkid’s contract expired late
last year, he wanted a contract review requesting the 75-25 sharing formula be
reviewed to 50-50 but Banky would not accept his proposal. Banky wanted EME to
provide a manager who would keep taking 25%, but Wiz insisted he wanted 50%, and
that he would pay his manager out of his own pocket.
This issue had been dragging since
September 2012 and that could have explained why Wizkid moved out of Banky’s
Ogudu GRA residence and got a new apartment in Lekki. What got Wizzy miffed was
that he was making all the money for EME and was getting less. Also, the money
being made was being used to finance the project of other EME stars namely,
Niyola, Skales and Shaydee.
Apparently Wizkid’s international fame gave him more confidence to stand out on his own. Riding on this platform, he signed a management deal with Disturbing London, an international management company. Right now, his second Album is ready and features stars like Wale, Chris Brown ,Tinie Tempar and others.
*Another inside source also adds: "the
last time Wizkid charged 1million for a show was about 3 years ago. Before his
fracas with EME, he was charging nothing less than three million per show, and
the fee for corporate shows was way higher. In a week, Wiz was doing at least
three shows, and raking in nothing less than 6million naira for EME on the
average, totaling up to about 24 million naira per month. During festive
periods, particularly Christmas, the amount he raked in was about triple that
amount or more, and he charges even more for international shows. Then there
were endorsements, the biggest of which was the PEPSI deal for which he was paid
a staggering sum of $365,000. Of all these, Wizkid was only getting 25%. "
The final straw was Banky's album
launch recently. I'm told Wizkid was not invited for the show but he went all
the same to show solidarity for his former label boss. Also, before show, the
contract review argument was still on ground and Wizkid was hoping the label
would reconsider and take his offer. What he really wanted was 50%, out of which
he would pay his manager, bodyguard, and mopol entourage, which he thought was
reasonable. However, during the show, Wiz was snubbed. The label refused to
acknowledge his presence, and with this, the relationship with EME was severed.
Wizkid is now operating under his own label STARBOY RECORDS.
So serious is the EME-Wizkid fallout
that the label is now making people take sides. I'm told EME members no longer
want to have anything to do with Wizkid and anyone that has any dealings with
him. As a result, Wizkid is being very careful as regards who to deal with
because the music sector just like any industry is full of snitches.*
Banky W may not have given his side of
the story but insiders note that Banky has spent a lot to make Wizkid who he is
now. He feels Wizkid is not grateful and has forgotten where he was coming from.
I also hear that Segun Demuren, Co owner of EME has vowed to deal with Wiz-kid
and make him regret ever leaving label.
With all said and done, here is wishing
both parties all the best in their future endeavors.
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