Managing director of Sony Music Publishing, Nigeria, Godwin Tom, has bared his mind on issues in the music and entertainment industry and stated that creatives need to own the Intellectual Properties (IPs) that can generate money. Tom who was one of the speakers at the celebration of British Council at 80 in Nigeria, fireside chat stated that it was essential for creatives in Nigeria to build business within the system. The MD of the global music publishing firm, stated that there is need to get informed of the global market and have the data.
He said, “if you’re going to make money from a thing, you have to have safety. And so what’s happening right now is a lot of our culture, our DNA, which is sitting in our IP, most of the commercially viable IP are not owned by us. So the only way that we can fix that problem is to have more businesses within the system.
Tom who spoke with panelists namely Zenani, Shola Babatunde, Aminu Mohammed and Opeyemi Ayeoniberu, also spoke further on the things we need to put it on place in the industry. “We’re not controlling the media. And because we don’t have any stake, we’re not generating what we need to.
So if you look at it, Nigeria, for example, an average artist doesn’t make money from their publishing. So the collecting society(s) are not functional. So if I’m a musician now, and I make a good song, but I’m not selling in the UK, I’m not selling in America, I’m not going to make publishing revenue.
That’s a con.
