Piriye Isokrari, founder of Aristokrat Records, has explained why the label did not renew Burna Boy’s contract in 2014. According to him, the singer wanted a large financial advance and a Porsche as a gift.
Burna Boy signed with Aristokrat Records in July 2011. His contract expired in May 2014, bringing his time with the label to an end.
Why Aristokrat Records declined to renew the deal
Speaking on In The Garage with Dolapo Amusat, Isokrari, popularly known as Peedi Picasso, said the label had planned to extend the singer’s contract after securing an investment deal with 960 Music Group.
“We wanted to re-extend the contract; this was 2014, and we did our first investment deal,” he said.
“We got money from 960 (960 Music Group). So we did that 960 music deal; part of doing the 960 deal was so we could sign Burna again, to extend it and everything.”
However, the singer had other plans for the proposed deal. Isokrari said Burna Boy wanted a large advance, a car and other benefits. He also wanted the money and car to be gifts rather than expenses deducted from his future earnings.
“Burna had a different mentality then. He felt like, okay, I have proven myself, which he had… he wanted to be paid an advance. He wanted money, big money,” he said.
“He wanted a Porsche; he wanted a car. He had a nice list of things that he wanted. Burna is a very smart man. He also said it shouldn’t be recoupable. He was like it should be a gift.”
Meeting those demands would have taken up much of the investment, according to the label boss. Aristokrat also wanted to develop other artistes and grow its business.
“We looked at it; we knew how much we had from 960, and that was basically saying, ‘ All the money you are getting from 960, give it to me. My own thinking then was like: I get it, do you deserve it, you do,” he said.
“But we are not trying to build a one-man label. I wanted to scale. That was why we were doing the 960 thing. We had other artistes, we had other ambitions as a brand, Aristokrat.
Isokrari added that Burna Boy’s mother had advised him to focus on the singer, arguing that the label would benefit as his career grew. He chose instead to pursue a broader plan for Aristokrat.
Legal dispute over Burna Boy’s catalogue
The revelation comes amid legal disputes over Burna Boy’s early music catalogue.
In June, a Federal High Court in Ikoyi dismissed a criminal case linked to the alleged covert sale of the catalogue.
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