Highlights of Some Relevant Contracts in the Music Industry
I love learning new things, picking up new tricks/ hacks, learning new skills and so on. I also love sharing them- it gives me immense pleasure when I am able to pass on the little I know to other people. Oh and I love dancing and singing and reading and dressing up but I digress. One of the things I really love and that I am most passionate about however is Entertainment Law.
You know in Uni after I had taken courses like English, Philosophy, Psychology, essentially non-legal courses, studying law just became a drag. I began to wonder why I decided to study it in the first place- it was no fun! Or so I thought until I discovered Entertainment Law and it almost felt like a shock; that law could be challenging and a lot of fun at the same time stunned me.
I believe that right now, Entertainment Law is one of the most important aspects of law in Nigeria as the Nigerian Entertainment Industry is one of the significant contributors to Nigeria’s Gross Domestic Product (GDP). Even asides the GDP, Entertainment has done something for our morale. I don’t know about you but seeing Nicki Minaj post a picture of her and Wizkid made my week last week. Seeing our entertainers get recognition for their work and cash out from royalties earned from their intellectual property just does somethings to my senses. However, my senses are not the topic of discussion at the moment.
It has been reported that as of the end of the year 2015, the Entertainment Industry contributed over $4 billion to Nigeria’ GDP and it is predicted that by the end of 2017, this would have increased significantly to $8 billion (Please see a full report -http://www.financialnigeria.com/nigeria-s-entertainment-and-media-industry-to-grow-to-8bn-by-2019-sustainable-photovideo-details-140.html). This is a lot for an industry with no structure and no mechanisms to determine how much money is retained and expended. Infact for an industry that barely pays any tax as there is little or no way to track how much comes in and goes out: where everyone is just ‘winging it’, it is quite surprising that we have been able to contribute that significantly to the GDP. Imagine how much money we can generate where a structure exists, imagine how many jobs we can create with a defined structure, imagine how many ‘Patorankings’ and ‘Wizkids’ we can sponsor in a defined industry, imagine the possibilities?! Just imagine!!!
Back to the focus of this post, it has always been my intention to share of the little knowledge that I acquire and accumulate daily from the things that I am about: Law, Entertainment and Service. I had the honour of sharing from my experience in the legal and entertainment industry on Saturday, 5 August 2017 with the trainees who attended the Talent Management Training with Godwin Tom #TMTwithGT. It was a great experience- learning and sharing with a bunch of brilliant minds who are rising experts in the different aspects of the industry.
I gave a presentation highlighting some relevant contracts in the music industry and I thought to also share it on this platform. I believe, and I know I must be quoting someone here, that if we are interested in building a structured and respected industry where we are treated as professionals, it is up to us to invest in the training of these professionals. This medium account is one of my contributions to the budding generation interested in the entertainment industry as I remain forever grateful to the people who gave me the assurance that my passion for entertainment law was and is valid and who gave me a chance to explore it.
So please read through, make comments and let me know what other topics you would like my take on.