With the steady declining consumer spending power, and with no possible hope in sight, the telecommunications companies have cut down on their publicity spend by at least 50 per cent, MTN and Globacom have dropped highly rated Nigerian musicians from their endorsement and artistes’ ambassadorial lists.
In the coming months, they will still
drop more artistes from their lists. By the way of this proactive step
(cutting down on spending), a company like MTN, Nigeria’s biggest
telecommunications spender, is thereby saving almost N2.5bn spend alone
on publicity and endorsement deals.
Davido says although he is aware that money is the problem, he laments
that the manner MTN dumped him and other musicians still hurts. Speaking
through his manager, Camal Ajiboye, the ‘Omo baba olowo’ crooner
explains, “We learnt that the bills they (MTN) were paying on big
artistes for endorsement were affecting their revenue base, but we won’t
have had any problem had they called us to inform us of their plans
rather than going to the media first..."
Naeto C said “It was an opportunity worth the while. I understand the new
challenges, but it would have been wise to inform us and take the
decision instead of going to the media, who now make it look like I was
dumped,” speaking on the termination of his contract with Glo.
Wizkid, who was dropped by MTN and Glo in two
years, simply says he is full of thanks to Glo for the
opportunity.
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