Wizkid’s fourth studio album, Made in Lagos, was released last October and so far, the Afrobeats project has been an acclaimed success.
By June 30, 2021, officially eight months after the release of the LP, the WizKid Team revealed that the album now had, as at that time garnered over 594,010,000 streams across major streaming platforms.
That figure is one of the biggest streaming figures we’ve ever seen in the Nigerian music industry, and it had so many people wondering how much exactly the Starboy might make from that number of streams.
The album was released during a global pandemic, and so there were no physical copies available. Also, WizKid hasn’t been able to tour with the album yet. His tour will be starting later this fall.
Essentially what this means is that if he’s to make any money from the release of the album, it has to come from the mechanical royalties paid by streaming platforms.
Here’s a comprehensive breakdown of the estimated income WizKid will get from his 594M streams, based on pay-per-stream information gotten from various sources.
Different platforms pay different amounts as royalties to artists, based on different metrics only known to them. But there’s an average range of payment we can work with here. Let’s analyze the major platforms.
YouTube has two different payout schemes, one for videos and one for YouTube Music. For videos, YouTube pays a meager average of $0.00069 per stream, while when it comes to YouTube Music, that pay can go as high as $0.006 or even more.
Wizkid, as of last month, had over 120,000,000 YouTube streams. About 50,000,000 is from music videos of songs like “Smile,” “No Stress” and “Essence.” The other 70,000,000 will be for audio streams and YT Music.
Videos: $0.00069 x 50M = $34,500
Music: $0.0067 x 70M = 469,000
Wizkid‘s highest streams have come from this platform. Apple Music also pays an average of $0.006 per stream. This means from the 176,970,000 streams Made in Lagos got on Apple Music, Wizkid can get up to $1,061,820.
Wizkid remains the most-streamed Nigerian artist on Spotify. Made in Lagos, as of last month, had over 116,760,000 streams on the platform. With an average pay of $0.0032, WizKid will get an estimated $373,632 from the platform.
AudioMack is the most popular platform in Nigeria currently. According to some sources, they pay about $10 for every 5000 streams.
That is, MIL’s 154,800,000+ streams should bring WizKid nothing less than $309,600.
While there is no real info about how much Boomplay pays per stream, using AudioMack’s average pay to calculate, WizKid might get about $50,000 from Boomplay.
How Much In Total?
There are other platforms like Tidal and Pandora, but since we don’t have any information on them, we will leave them out for now.
Also, the streams we used in calculating is the one uploaded by Wizkid’s team at the end of June 2021. The streams have definitely increased since then.
Anyway, since that’s out of the way, adding everything together, Made in Lagos would’ve made an estimated amount of $2,298,552 in the first five months of the release.
Converted into Naira using the official N381 rate, this would mean WizKid’s Made In Lagos has made an estimated N875,748,312.
Calculating using the black market rate of N478, the estimated income of Made in Lagos would be about N1,098,707,856. One billion naira!
AUTHOR: Joy Dennis
DATE PUBLISHED: July 9, 2021
PHOTO CREDIT: naijanews.com