...By Lola Smith for TDPel Media.
The team representing Nigerian Afrobeat singer Davido, whose real name is David Adeleke, has disclosed the cost of securing the artist for an endorsement deal over a span of one year.
The sum amounts to $5 million, which is equivalent to N2.3 billion in Nigerian currency.
Davido’s Endorsement Fee Revealed:
Anambra Tech guru and CEO of Billpoint, Linus Williams, took to Instagram on Monday night to share the details of the cost involved in bringing Davido on board as an ambassador for his company.
He posted a screenshot of the response received from Davido’s team, shedding light on the financial aspect of the endorsement.
Response from Davido’s Team:
The post, titled “Re: Endorsement Deal Inquiry,” featured the content of the response Williams received from Davido’s team.
The message expressed gratitude for his email and stated that Davido’s endorsement fee for a full calendar year amounted to $5 million.
It also mentioned that the fee would be subject to review at the end of the endorsement period, indicating the possibility of renegotiation.
Initial Budget vs. Actual Cost:
Williams had initially allocated a substantial amount of N150 million (approximately $205,000) to secure Davido as a brand ambassador.
However, he shared in the post that they abandoned the pursuit upon receiving the response from Davido’s team.
He also sought suggestions from his audience regarding other potential brand ambassadors they could sign with the budget of $205,000.
The team representing Davido has revealed that the cost of obtaining the artist’s endorsement for one year amounts to $5 million.
This disclosure was made by Linus Williams, the CEO of Billpoint, who shared the response received from Davido’s team on Instagram.
The revelation came as a surprise to Williams, who had initially set aside N150 million for the endorsement deal.