MERCY CHINWO’S LABEL WOES: The Untold Story of Greed, Betrayal, and Broken Dreams
The music industry is abuzz with the news of Mercy Chinwo’s dispute with her estranged label over royalties and dividend sharing. The allegations and counter-allegations flying back and forth have raised important questions about the nature of artist-label relationships and the importance of honoring agreements.******
As an observer, it’s clear that both parties have made significant investments in Mercy Chinwo’s career. The label has allegedly paid her over $600,000 over the past four years, while Mercy Chinwo has accused the label of failing to remit over $500,000 in royalties. The dispute has also raised questions about the 50/50 sharing formula agreed upon by both parties.
However, what’s most striking about this dispute is the allegations of bullying and extortion. The label’s boss has accused Mercy Chinwo of using influential pastors and security personnel to bully him, while Mercy Chinwo has allegedly used the EFCC to extort $250,000 from him. These allegations, if true, are deeply troubling and highlight the darker side of the music industry.
As I reflect on this dispute, I’m reminded of the importance of artists understanding the nature of the music industry. Label executives are human beings and capitalists who invest money to make a profit. Artists should always honor agreements and recognize the risks that labels take on their behalf.
The music label business is indeed risky, akin to a Ponzi scheme, where investors try to recover losses from the success of one artist after experiencing failures with others. The examples of Ubi Franklin’s investment in Emma Nyra and Paulo’s investment in Spyro are cautionary tales of the risks involved in the music industry.
In conclusion, the Mercy Chinwo label dispute serves as a reminder of the importance of honoring agreements, understanding the nature of the music industry, and recognizing the risks involved. Both artists and label executives must approach their relationships with caution, respect, and a deep understanding of the complexities involved.
As the music industry continues to evolve, it’s essential that we prioritize transparency, accountability, and fairness in all dealings. Only then can we create an ecosystem that supports the growth and success of both artists and label executives. The Mercy Chinwo label dispute is a wake-up call for all stakeholders in the music industry to re-examine their relationships and prioritize the values of respect, trust, and fairness.
Exerpt from Onyedikachukwu Anambra
Mercy Chinwo is currently in a dispute with her estranged label over royalties and dividend sharing.
Mercy has accused the label of failing to remit over $500,000, while the label has claimed that, over the past four years, they paid Mercy Chinwo over $600,000. The label further stated that they had agreed on a 50/50 sharing formula.
The label’s boss has accused Mercy Chinwo of using influential pastors and security personnel to bully him, despite reneging on the agreement she signed by refusing to release a third studio album for the label. He also alleged that Mercy Chinwo used the EFCC last year to forcefully extort $250,000 from him. Also, Mercy is fighting to take control of the music catalogue from the label.
My take is that artists should understand that label executives are human beings and capitalists who invest money to make a profit. Artists should always honor agreements. The music label business is risky, much like a Ponzi scheme, where investors try to recover losses from the success of one artist after experiencing failures with others.
For example, in 2014, Ubi Franklin stated in an interview that he invested 30 million naira in Emma Nyra but only made 12 million naira in return.
A few days ago, Paulo revealed that he invested 12 million naira in Spyro in 2018 without making a dime.
