‘As a record label, we are keeping up with the pace of change and growth in the music industry. Though we have not actively been involved in discovering talent, we have been doing underground work in trying to understand the new norm in music business worldwide and how to key into it to make success for the benefit of all our stakeholders. Every day, we work hard and try to innovate and collaborate with other industry players, so we are still very relevant in the business’
AS part of its resolve to make a bold stride in repositioning the company to its enviable position of leading record label, the board of Premier Records Limited, Nigeria’s foremost record label, has appointed Michael Odiong as General Manager.
Odiong in his new role, though in acting capacity, is expected to lead the management team to a new level. Prior to his new assignment, Odiong, who started his career with the company in 2008 as Head of Projects and later Business Development, was its coordinator.
It is believed that his experience in the music business and the entertainment industry generally will help the record label set new targets and meet new goals.
Berthed in Nigeria in 1963 as Phillips West Africa Records, it later over the decades metamorphosed to Phonogram, Polydor, Polygram and now Premier Records. It is reputed for its release of the top listers in some of Africa’s music genres such as Highlife, Apala, Folktales, Reggae, Gospel, Fuji, Sakara and housing of some Nigerian known artistes such as Gentleman Mike Ejeagha, Paulson Kalu, late Chief Stephen Osita Osadebe, and late Ras Kimono.
Others are Oritz Williki, Alex O, Alex Zitto, Evi Edna Ogholi, Dele Bamgboye, Uche Ibeto, Bright Chimezie, Mike Okri, Junior and Pretty, as well as Fellxzy and Mozzxxyy. Also included in the stable are late music icons, Dr. Victor Olaiya, Sir. Victor Uwaifo, Bobby Benson, Yusuf Olatunji and Yemi Elemure, among others.
With most business in this part of the world not surviving after the demise of founder or exceeding 50 years and still counting, especially in the entertainment industry, to the admiration of many, Premier Records Limited is 58 years old and still waxing strong.
Speaking recently in an interview with The Nation, Odiong said: “We are not in competition with any other record label. We have over the years acquired a large catalogue from the 1960s. That is what most of the new comers don’t have.
“We are in a position to work with the new record labels so as to help build content and encourage them to make use of our catalog. As far as we are concerned, competition is not necessary, music is creativity and creativity does not reside with one person but people.”
“As a record label, we are keeping up with the pace of change and growth in the music industry. Though we have not actively been involved in discovering talent, we have been doing underground work in trying to understand the new norm in music business worldwide and how to key into it to make success for the benefit of all our stakeholders. Every day, we work hard and try to innovate and collaborate with other industry players, so we are still very relevant in the business,” he added.
According to him, one of the reasons the record company and its contemporaries were successful back in the days, was because every label respected its territory and even shared ideas and came together to help grow the industry.
“This we still continue to advocate for. My late Managing Director, Mr. Toju Ejueyitchie, worked very hard for the industry to unite and do the right things that would benefit all stakeholders. Every company has its strengths and weaknesses, we just know how to relate to be stronger,” Odiong stated.
On the milestones recorded by the company in its almost six decades of existence, Odiong said, “Our major milestone is the fact that we are still very active in the music business after 58 years. It is rare to find companies like ours still functional since 1963 when you consider the inherent issues that bedevil the music industry, especially in Nigeria. You have issues like piracy, lack of political will by the government to enforce existing laws that can drastically reduce piracy.
“At every point, we find ourselves at loggerhead with each other instead of uniting to fight a common enemy. We have too many reasons to thank God who has always guided us. Unfortunately, we lost our managing director in January 2021. He was the piloting captain who put the best brains together in order to continue to sustain the company with ideas and ways of growing the company.”
Explaining the effect and impact of technology on music business, Odiong noted that the advent of YouTube and streaming platforms, which has offered up and coming artistes a platform to record and stream their music, thereby boycotting record labels.
He said, “Technically, an artiste still needs a record label to be taken seriously. YouTube is just a means to reach people but not means to the business and day-to-day growth of an artiste.
“Yes, artistes are individually making money from these platforms, but most of them still seek record labels. The reason is simple, the artiste does not know anybody in YouTube; so if Youtube packs up today, what will happen?
“We have artistes that have been with us for over 40 years and we are still doing business and exploring their works. They reach out to us to ask for their royalties and we are happy to say we pay them, even the estate of those who have died are still paid royalties, would those platforms be able to do that?” he queried.
Commenting on what makes Premier Records what it is, Odiong said, “It is the fact that we do not take lightly payment of royalties. Our late managing director had a policy that we must pay royalties first before salaries if we are in a tight spot and have to choose what to pay.
“That is how much we value royalty payment because we believe that if the artiste did not create the content, we would have no record label to work in. As long as an artist’s work is selling, royalties are paid.”
He further explained that every artiste signed on the Premier Records platform has given their best and done well as at their time. “Remember we controlled over 60 percent of the music space in the 70s, 80s and 90s. They have all built their unique fans that still connect to them and share that nostalgic feeling. We hope to release new acts,” Odiong enthused.
