Famous Afrobeats singer, Davido, has said that he ran his record label, DMW for four years without collecting a dime from his artistes.

Davido stated this in an interview with a US media personality, Steve Stoute.

The singer added that as Afrobeats gained global reception, he felt the need to educate them about the business side of the industry after four years.

“You know my label was really more like a family to me. I was young. I was just happy putting my boy on to me, that is what it was really all about for me.

“I ran my label for four years, and I didn’t take one dime from my artistes and I was paying for videos, accommodation and their welfare just because I was happy seeing that my success could rub up on this person, that was money for me.

“But obviously, Afrobeats got to a point now where it is global. So I now have to explain to the artistes these days that this is music business. And you have to spend money to make money,” he said.

Davido record label, DMW was established in 2016, and has served as the home to sensational music talents such as Peruzzi, Dremo, Mayorkun, among others.