Olamide, the Nigerian rapper, says he founded YBNL (Yahoo Boy No Laptop), his music label, to avoid extravagant spending.
In an interview on the Apple Music ‘Africa Now’ podcast, Olamide said he started music out of passion.
The 34-year-old rapper said he, however, decided to reinvest in the music business properly in order to stop spending unnecessarily.
“The world is in love with my stuff. I am grateful for it but now it is time to make sure I reinvest in that same thing that is making you love and appreciate me,” he said.
“It used to be just passion but it is high time I step up, reinvest and make this a proper business. I set up my own label and started signing artistes because I did not want all that money to just go wasted on ballin’ and all that.
“All that money had to go back into the grind, man. That is how the whole thing started.”
After releasing ‘YBNL’, his second studio album, Olamide launched his music label in 2012.
The record label has produced talented musicians like Lil Kesh, Adekunle Gold, Fireboy, and Chinko Ekun.
In 2020, YBNL signed a joint venture deal with Empire Distribution, a US music label and publishing company.
Last year, Olamide hinted that ‘Unruly’, his 10th music album, might be his last project.
