The entertainment industry in Nigeria has grown so big and famous with local and internationalrecognition of some big stars in prestigious awards such as Grammy, MTV/EMA, BET,SoulTrain among others, they can now compete side by side int'l stars in Hollywood and musicians around the world.
The big names in the Nigeria entertainment industry today does not only earn from their intellectual work such as music and movies but are earning much more in deals such as brand endorsement, appearances, shows, campaigns and even has simple as a tweets/retweet or lending their voice to support a course.
Due to market share competition among big brands in FMCG and Telecoms, companies pays each of this stars you see on billboard between N30-N100million per endorsement. Some charge as high as N10million for 20minutes performance in shows/event, they get paid for appearances to events and clubs. Some even get paid by politician to lend their support. With all these money flowing in from various avenues, there is no limit to what an average entertainer can earn per annual in Nigeria today.
The average musician and some Nollywood stars are richer than most companies executive directors in both local and multinational companies, with luxury lifestyle such as buying homes in lekki/Ikoyi, flying private jet, buying customise cars every 6months, travelling round the world in 1st class, shopping at top designer shops, flaunting Rolex and other expensive jewellery on social media, when they go to events, they are well received with red carpet reception, they get to sit next to president, Governors and famous people. Even in clubs they get VVIP treatmentwith pretty chics at their beck and call. They even get to move around with body guards and police security. These are privileges and acquisitions most companies executives directors cannotboost off neither have they experienced it.
While those of us in professional fields, Academics, civil services, Telecommunication, FMCG, Banking and even Oil/Gas industry with so many decrees, certification, qualification international trainings acquired through difficult studies and years of experience of working 7am - 6pm 5days a week cannot boost of 20% of what the average Nigerian artist is earning today.
The industrial average pays for Executive Directors, MD, Professors and CEO which is the highest level in the career ladder is what am going to bench mark the entertainers with because GM/SM/Manager have no basis for comparison with these heavy weight. The average executive director of a company have nothing short of 10-15yrs working experience that’s for those on a fast track career part with loads of professional qualifications, certification, trainings, decree not less than MBA/MSC from foreign universities and business school like Harvard and London business school. Despite all these prestigious degrees and qualification, the average executivedirector of most companies earn no more than 25-40million per annual.
While these celebrities who barely earned a basic degree with less than 2yrs presence in the industry are making way above 200million per annual while their int'l counterpart are even earning much more with Beyonce making forbes list as the richest female musician with1.8billion in 2014 an amount that used to form a state annual budget in Nigeria.
What message is this ironic twist of life sending to our future generation? What happens when your child says to you he wants to be like wizkid, Davido or Genevieve as to been a doctor, Lawyer, Engineer like we use to say back in the days.
How do we explain to our children that academic/professional career life with so much hard work and studies is better than they following their dreams and talents which are more like having fun, when they get to see the big difference in living standard and lifestyle of those in professional career and those in entertainment?
What happens when our children start abandoning their degrees and qualifications after so much financial, psychological and emotional investment on the part of us the parents? We have even started seeing children from rich and famous family abandoning their foreign degrees to go into entertainment, like Davido, Necto C and even Femi Otedola's daughter known as DJ Cuppy.
How offended or embarrassed are you as a company senior Executive shaking hand with stars like Patoranky, Wizkid or Davido and signing off contracts of 30-60million on behalf of the company for an endorsement when your annual pay is less than 30million?
Will education still be relevant in the nearest future? Would you force your child to go the way of academic career or rather have him find is footing in the entertainment world?
Elizabeth Aluko
Twitter: @Elizabethaluko1, instagram @elizabethalukoblog
Gmail/google+ : Elizabethaluko08@gmail.com
Madam, Education is still the best oh.
ReplyDeleteEducation is good but truth be told, these guys are making it bigtime, how many of us bankers can boost of 10m in our account. Even GM go broke before payday. I won't force my kids.
ReplyDeleteLizzy it's too long but interesting article. Have told my younger bro to go join them anyhow.
ReplyDeleteThe success formulae is for you to train your children to believe in themselves, that they can be anything they set their minds on. It is time we train our children to recognise that success in life is not measured by wealth alone but by fulfilment and purpose.
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