The Nigerian music industry has recently been moving forward and making waves all over the world. Being a musician is now one of the most sought-after professions in Nigeria due to the rate at which the industry is growing, upcoming artistes keep popping up all over the country regardless of gender. However, this growth has been maintained because the artistes have been placed under the right record label. The most popular artistes in Nigeria are either signed under a record label or are the founders of the label.
A record label or music company is an organization responsible for coordinating productions, marketing and copyrighting music and videos, and also scouting and training new artists. They also play a big part in managing and promoting the artists signed under them. One of the major functions of a record label is to make money. They make money by investing in the artist and wait for the release cycle where they then take from the income generated via the release of the album. For every amount of money made by their signed or trained artiste, there’s always a percentage that goes into the label’s account. Each record label also has control over the type of music, the sound, the lyrics, and the album cover art produced by the artiste. There are lots of record labels in Nigeria but we have selected the top 5 richest labels.
1. Davido Music Worldwide (DMW)
Davido Music Worldwide also known as DMW is a record label owned by the popular Nigerian singer and songwriter, Davido. DMW was established on April 18, 2016, by David Adeleke Adedeji with its headquarters in Lekki, Lagos Nigeria. Davido founded DMW after he left his former record label, HKN Music due to a disagreement with his cousin. He has signed numerous artistes since he started his label. They include:
Yonda(January 20, 2017),
Peruzzi (Nov 16, 2017),
Idowest ( May 24, 2018),
Deejay (Sept 27, 2018),
Lilfrosh(Oct 26, 2019),
Ayanfe ( Jan 15, 2020),
B-Red ( Feb 22, 2020),
May-D(July 18, 2020),
Deinde( Sept 27, 2020),
Liya( Oct 2, 2020) and Mayorkun.
DJ Ecool became the official DJ in 2018 and the producers are Speroach Beatz, Magicboi, Napji, and Fresh VDM. Mayorkun exited DMW in 2021. In 2016, DMW was nominated for the City People Awards and won the award in 2017 and 2018 respectively. The label also won the Record Label of the Year in 2019 at the Beatz awards. DMW has a net worth of $50 million and is known to have talented artistes.
Some of the songs and albums produced by the record label are:
- Davido : Son of Mercy, A Good Time, and A Better Time
- Mayorkun: Geng EP and Mayor of Lagos
- Peruzzi: Rum and Boogie, Huncho Vibez
- Idowest : Mafia Culture
- DJ Ecool: NewSide
DMW contact info
Email: info@davidomusicworldwide.com
Phone number: +234 811 334 3436
Website: DMW
2. MAVINS RECORDS
Mavins Record or the Mavins Dynasty/Supreme Mavins Dynasty is a well-known Nigerian record label founded by the producer and recording artist Don Jazzy. Don Jazzy, also known as Micheal Collins Ajereh established the record label after the popular musician D’banj exited Mo’Hits records. Mavins Dynasty was founded on the 8th of May, 2012 with its headquarters located in Victoria Island, Lagos Nigeria. Don Jazzy rebranded the Mo’Hits records and changed the name to Mavins ( someone gifted and skilled). Don Jazzy first signed the female artiste, Tiwa Savage claiming he loved her skills, passion, and work ethic. After which he signed Di’ja, Reekado Banks, and Korede Bello in February 2014. He also signed Iyanya on Oct 31st, 2016 but he later left the record label but claims that he’s forever a Mavins at heart. Other artistes signed to the Mavins record include:
Johnny Drille, Ladipoe, and DNA( February 28, 2017), Rema( March 2019), Crayon( May 31, 2019), Ayra Starr( Jan 2021), Magixx( 2021), Boyspyce and Bayanni(2022). The producers for the label are Don Jazzy, Baby Fresh, and Altims. Even though Wande coal, Reekado Banks and Tiwa Savage has left the record label, the Mavins Dynasty is still going strong. DJ Big N is the official DJ for the label. Mavins Records was nominated for the Best Record label of the year in the 2013 City People Entertainment Awards and won the award in 2014. The record label is quite popular for releasing groundbreaking songs such as ‘Dorobucci’, ‘Overloading‘, and many more from each of their artiste. The label is said to have a net worth of $45 million.
Some of the songs and albums produced by Mavins Records:
- Solar Plexus
- Tiwa Savage: Once Upon a Time, Sugarcane
- Dr. SID: Siduction
- Reekado Banks: Spotlight
- Di’ja: Aphrodija
- Rema: Rema(EP)
- Ayra Starr: 19 and Dangerous
MAVINS RECORD Contact Info
Email: info@mavinrecords.com
Phone number: +234 913 361 6411
Website: MAVINS RECORD
3. STARBOY ENTERTAINMENT
When you hear STARBOY, you hear Wizkid. Starboy Entertainment is a Nigerian Record label that was established by Ayodeji Balogun popularly known as Wizkid after he left his former record label EME( Empire Mates Entertainment). Starboy Entertainment was founded in March 2013 with its headquarters in Lagos. The ‘Essence‘ crooner claimed to have started the company in his living room with his friends. He first signed Maleek Berry and then Legendary Beatz. In August 2013, he signed L.A.X but the artiste later left in 2016, he also signed DJ Junes as the official DJ in February 2016, Terri (December 2013). In May 2016, Wizkid signed Effya, RZ Bees, and Mr. Eazi. The record label is currently managed by Jada P and was nominated once for the Best Record Label by the City People Entertainment Awards and four times for the Beatz Award. Even though Wizkid is the major artiste in the record label, he also has quite a several talented artistes under him. Starboy Entertainment has a net worth of about $43 million.
Contact Info
Phone number: 0813 855 7938
4. YBNL NATION
The Yahoo Boy No Laptop Nation or YBNL is a Nigerian Record label independently owned by the popular Yoruba Rapper, Olamide otherwise known as Baddo. The famous rapper founded the label after he left his old record label ID Cabasa’s Coded Tunes in 2011 and established YBNL in 2012. YBNL is located in Lagos and is one of the most successful record labels in Nigeria with some of its artistes currently making waves all over the world. The current artistes in YBNL are Fireboy DML, B.Banks, Ololade Asake, and Jayboi. However, other artistes who were products of the label and already left include Lil’Kesh, Viktoh, Chinko Ekun, Adekunle Gold, Xino, Davolee, Lyta, Picazo Rhap, Limerick, Yomiblaze, and Temmie Ovwasa. The producers are Pheelz, Young John, and Vinkhill. The record label has its net worth estimated to be about $40 million.
Some of their records are:
- Illefo Illuminati by Olamide
- YBNL by Olamide
- Y.A.G.I by LilKesh
- Gold by Adekunle Gold
- Laughter, Tears, and Goosebumps by Fireboy
- Carpe Diem and 99EP by Olamide
- Apollo by Fireboy
Contact: @OlamideYBNL on Twitter
5. CHOCOLATE CITY
This record label was founded by a Nigerian lawyer, Audi Maikori alongside Yahaya Maikori and Paul Okeugo in 2005. Chocolate City is not just one of the richest record labels in Nigeria but is also well known in Africa. The label had its headquarters in Lagos, Abuja, and even Nairobi and has produced a lot of superstars across Africa such as M.I Abaga, Femi Kuti, Nosa, Blaqbonez, Ckay, Torna, and DJ Cinch. Several artists such as Victoria Kimani, Ice Prince, DJ Caise, DJ Lambo, Jesse Jagz, and many others are also products of the label but later left. Chocolate City was first a nightclub in 1997 but later became a label in 2005. In 2007, Chocolate City was the first record label to win a global award as the International Young Music Entrepreneur of The Year, the Best Record Label of the Year in the 2011 City People Entertainment Awards, and Best Music Company, Effyze Awards. Chocolate City’s net worth is estimated to be about $35 Million.
Some of the records produced by the label are
- Everybody likes Ice Prince by Ice Prince
- Jagz of all Trades by Jesse Jagz
- MI-2 by MI
Website: Chocolate City
If you are an upcoming artist, you’ll need a great record label or a team that’ll help you maintain and keep your musical vibe. Every major record label offers the best of their services to the artists because the richer their artistes, the richer the label. No record label can stand on its own without working toward the success of its artistes that is why we see the richest record labels in Nigeria producing the best of the best. To get signed by a record label, you have to ensure that you’re on social media with your demo, also ensure you have a good fan base and build connections. You never can tell, Davido, Don Jazzy, Wizkid or Olamide might send you a message on Instagram or Twitter.
