The Nigerian music industry has grown and improved over the years. Today we now have Nigerian artists, rubbing shoulders with A-list international musicians from all over the world; more so, Nigerian artists now earn hundreds of millions yearly, doing what they do best.
Popular magazine – T.I.N, has completed its research and now gives us a breakdown of the top 10 earning musicians in Nigeria for the year (2016).
This ranking is based on the following criteria:
- Brand endorsements
- Digital sales – YouTube, iTunes, Music+ etc.
- Shows – number of shows they featured in and how much they got paid
- Concerts and Tours – How successful their concerts and tours were.
Find detailed list below:
10 – Korede Bello
It’s amazing that the young Mavin artiste is on this list, considering the fact that he struggled to top the charts this year like he did last year. However, the “Godwin” crooner still managed to get plenty of pay from digital sales.
His Globacom endorsement also helped him rake in plenty of cash as well as the few shows he attended. Koredo Bello made between 60 -100 million naira this year!
9 – Tekno
Tekno is regarded by many as the artiste of the year, the reason for this is not far-fetched – the boy was incredible this year! All his singles this year were hits; his songs sold like wild fire digitally. They also attracted plenty of views on YouTube. Tekno’s shows were all sold out.
On the side, his endorsement with MTN fetched him a further 5 million naira. Tekno made between 80- 110 million this year.
8 – Kiss Daniel
Kiss Daniel is the guy who featured in most shows within and outside the country this year – this earned him plenty of cash. His album – New Era was a best-seller for 2016.
His estimated earnings from shows and music sales alone is between 90 -110 million naira in 2016.
7 – Phyno
Being the ambassador of big brands such as Guinness and Nairabet, Phyno made plenty of money from endorsement deals this year. Most of his singles were hits, and he sold thousands of them on digital platforms.
Phyno earned between 100-160 million naira in 2016.
6 – Davido
He’s been among the top earners for at least the past 3 years and 2016 was no different. Digital sales of his music brought him plenty of money. His tours were highly successful, his endorsement deal with Pepsi and MTN fetched over a 100 million naira while he is said to collect 5-8 million naira per show.
Davido made 150 -180 million in 2016.
5 – Olamide
Olamide also made plenty of bucks in 2016. The YBNL boss sold out most of his shows and sold thousands of his music digitally. His endorsement deals with SUREBET, GUINESS and CIROC also brought him plenty money.
He is estimated to have earned 150-200 million naira this year.
4 – WizKid
The ‘Ojuelegba’ crooner was also among the top earners for 2016. His songs sold thousands in the digital platforms in 2016. He also collected as much as 8 million naira per show – and he appeared in many. His endorsement deal with Pepsi also fetched him millions this year.
Wizkid’s estimated earnings in 2016 is between 150 – 220 million naira.
3 – Tiwa Savage
Despite her marital issues in 2016, Tiwa Savage still managed to make plenty of money during the year. She made plenty of digital sales and appeared in plenty of shows which she charged a fortune to show up in.
Her endorsement deals are more than most artists can boast of, and she rakes in millions through them.
Tiwa Savage’s estimated earnings in 2016 is between 150 – 250 million naira
2 – D’Banj
Despite the rumors that D’Banj was neck deep in debt, the singer still raked in plenty of cash in 2016. Aside from earnings from his business investments which were not put into consideration in this ranking, D’banj still earned plenty of money from endorsement and shows, as well sales from his hit singles.
D’Banj’s estimated earnings in 2016 is between 200– 250 million naira.
1 – Peter Okoye (Mr. P)
Peter Okoye was the top earner in the musician category for the year in review. He earned hundreds of millions in endorsement deals to his name alone, while sales from music collaboration with his brother Paul also fetched some more millions.
Peter Okoye’s estimated earnings in 2016 is between 200 – 300 million naira.
So there you have it! The top 10 earners in the Nigerian music industry, 2016. Got any thoughts on this? Why not share in the comments section!