• Diamond Platnumz has called upon music regulating body in Tanzania BASATA to set up laws that protect both artistes and music investors.
• Diamond was responding to allegations that Wasafi record label has been exploiting it signees with their contracts.
Wasafi CEO Diamond Platnumz has called upon music regulating body in Tanzania BASATA to set up laws that protect both artistes and music investors.
Speaking during the Barnabas Album launch last night, Diamond stated that most Tanzanian music investors are complaining how the music body set up their rules.
According to Diamond, Music should be respected like any other business.
"I would want the government to understand that music is business and a big business for that matter. We invest billions of money in it," he said.
Diamond spoke about how musicians milk good money from it to live their good lives.
"Look at how artistes came here with big cars. They bought using money from music and as investors, we pay taxes in this country," he said.
Diamond was responding to allegations that Wasafi record label has been exploiting it signees with their contracts.
This was a big discussion recently after Rayvanny quit the record label.
Diamond said most musicians quit his label because they fail to honour the contract regulations.
"I want the government to understand that music cannot be business if we don't invest in it. It is not for fun but business," he said.
"In investing, we spend a lot of money. When signing an artiste, we have to invest so much in each so that they can be big brands, it is not a one year thing. you have to be patient to be able to get good shows."
Diamond further stated that the main challenge most music investors face is lack of support from the government.
"People are talented. singer TID is among the talented artistes in East Africa and if someone invested Tsh 1M in him, he would be big," Diamond said.
He then asked artistes to be patient in wherever they are signed.
"When you are signed under a record label, you don't just become an artiste, you become business. The problem with our signees, when they get that money, they look for ways to get that money alone," he said.
"They start coming to the government and hide there. They start saying they are being mistreated and the government protects them and some investors are afraid to face the government.
We want to have laws that protect both artistes and investors."