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Nigerian hip-hop artist Phenom recently unveiled some financial insights into Burna Boy’s career trajectory, suggesting that the Grammy-winning singer received a substantial $5 million advance payment when he inked a recording deal with Atlantic Records back in 2017.
According to Phenom, the proprietor of Bad Habit, an imprint of Atlantic Records, facilitated this significant financial move for Burna Boy. These revelations surfaced during Phenom’s appearance on The Yarns podcast.
Moreover, Phenom expressed his openness to returning to rapping if offered a $1 million advance payment by any record label. He highlighted the contrasting realities in the music industry, especially in America, where major contracts are reportedly given to artists. Even before Burna Boy’s reentry into the music scene, the individual who facilitated his connection to Atlantic Records, identified as Matthew ‘Baus’ Adesuyan, allegedly secured a $5 million deal for the artist.
Phenom elaborated further, suggesting that emerging rappers such as Odumodublvck might eventually pivot from rapping to singing due to the declining profitability of hip-hop. He hinted that if an artist like Odumodublvck were provided with a $100,000 advance by their label, they might need to transition to singing and explore platforms like TikTok to recoup the investment for the record label. This signals a shift in the industry dynamics where artists adapt to changing market demands for financial viability.
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