If you think breaking into the Nigerian music industry today is child’s play, you might want to hear what Zlatan Ibile has to say. The Zanku master has opened up about why he is currently stepping on the brakes when it comes to investing in upcoming talents.
Speaking on the Afrobeats Podcast, Zlatan kept it 100% real about the current state of the music business. According to him, the game has changed drastically from when he started. Back then, marketing budgets were reasonable, and you could easily find investors, even people outside the music business, willing to throw money behind a talented young act.
But today? The cost of promotion is skyrocketing.
Zlatan explained that the financial risk is now too high. He frankly stated that instead of gambling millions on an artiste who might not “blow” or bring returns, he would prefer to put that money into real estate.
“The budget is outrageous,” Zlatan admitted. “I had rather buy a house rather than put money on an artiste I’m not sure will blow up.“
It’s About Financial Stability
For Zlatan (Omoniyi Raphael), this isn’t just about being stingy; it is about survival and peace of mind. He revealed that his main drive for making music is financial stability.
Having started from the streets, working as a bricklayer before his big break, Zlatan knows the pressure of lacking funds. He recalled suffering from serious anxiety and pressure at the start of his career because he wasn’t financially balanced. Now that he has made it, his goal is to remain responsible and secure his future.
It is worth noting that Zlatan isn’t new to the label business. He launched Zanku Records in 2020, signing acts like Jamopyper, Oberz, and Papisnoop. However, with the way the industry is set up right now, the ‘Lagos Anthem’ crooner is choosing to invest his profits where he is sure of the outcome.
Watch the podcast below:
