Rapper Zlatan Ibile has set social media abuzz after bluntly declaring that he is no longer willing to pour money into upcoming artistes, blaming the insane rise in music promotion costs.
Speaking on the Afrobeats Podcast, the street-pop star said the game has changed drastically from the early days when budgets were small and even non-music investors were eager to bankroll young talent.
“When the marketing budget wasn’t serious, you still get people that are not into music but invest in labels and help young artistes,” he said.
“They put money into their music to support them, they set up labels for artistes to grow. But right now, the budget is outrageous, so I had rather buy a house rather than put money on an artistes I’m not sure will blow up.”
Zlatan, whose real name is Omoniyi Raphael, said the pressure he faced at the beginning of his career shaped his priorities, adding that financial stability, not industry noise, is his real motivation.
“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 wasn’t balanced and suffered from pressure and anxiety,” he added.
From bricklayer to hitmaker, Zlatan shot to fame with bangers like ‘Zanku’, ‘Shotan’, ‘Lagos Anthem’, ‘Omo Ologo’ and ‘Let There Be Light’. In 2020, he launched Zanku Records, signing acts like Papisnoop, Oberz and Jamopyper.
But with today’s “outrageous” spending demands, the rapper says he’s choosing real estate over risky artiste investments—no apologies.
