By Adam Mosadioluwa
Nigerian rapper Omoniyi Temidayo Raphael, popularly known as Zlatan Ibile, has said he would rather buy a house than invest in an emerging artist who may not become famous, citing the rising cost of music promotion as one of the main reasons for his stance.
In an interview on the Afrobeats Podcast, the ‘Zanku’ hitmaker compared the current environment to the early years of the industry, when costs were more modest and investors, including those outside of music, were willing to back young artists.
“When the marketing budget was not serious, there were still people who were not interested in music but invested in labels and helped young artists,” he said.
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“They invest money in their music to support them, they create labels for artists to grow. But right now, the budget is outrageous, so I prefer to buy a house instead of investing money in artists that I’m not sure will break out.”
Zlatan also reflected on his personal motivations, noting that financial stability remains the main reason he makes music.
“The reason I make music is for financial stability. My goal is to be responsible and financially secure. At the beginning of my career, I was not balanced and suffered from pressure and anxiety,” he added.
Known for hits such as ‘Zanku’, ‘Shotan’, ‘Lagos Anthem’, ‘Omo Ologo’ and ‘Let There Be Light’, Zlatan rose to fame after releasing his debut studio album in 2019. Before achieving fame, he worked as a bricklayer.
In 2020, he founded Zanku Records, which has since signed artists such as Papisnoop, Oberz, and Jamopyper.
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