Following Tekno Miles’ announcement of the 50% buy-in of his record label by Upfront and Personal boss, Paul Okoye, a lot of tongues are certainly going to wag already as to the possible implications for Triple MG boss Ubi Franklin.
The tilt towards Franklin is obviously because of his well known media battle to get his groove, Lilian Esoro back as well as the already publicised departures of Iyanya and Emma Nyra from the label.
However, forensics have gone to lab to look at the buy-in beyond Ubi Franklin, thereby giving you a three-prunged analysis of the what the deal holds in store for the parties involved, to wit, Paul Okoye, Tekno and Ubi Franklin.
Paul Okoye’s decision to buy into the Triple MG label at this time represents a smart piece of business. Here’s why: Tekno is the ‘king of the moment’. No doubt. Fresh from multiple wins at SoundCity’s MVP Awards and a mention in BillBoards artistes to look out for in 2017 already, the Pana star is worth investing in. With sold out shows and multiple endorsements in the previous year and an upcoming album, it makes sense to bet on the lad. Arguably the king promoter in the game, Okoye sure knows what he can get by committing himself to the dream. And he will reap!
Emma Nyra left. Iyanya, co-label owner left. Leaving Franklin with just Tekno to bank on. So far, so good. And then this 50% buy-in. In the short term, Franklin’s account is likely fatter and shapeless right now because of the buy-in. It means he has lost 50% control, but then the brother just got paid! More money in the business could represent more investments on Tekno as well as an opportunity to scout and expand the artiste base of his label. Because It’s risky to depend on just one artiste. To that extent, this deal represents a smart piece of business for the Triple MG boss. But on the flip side, he might have also put himself on the edge. Beyond losing sole decision-making power, 50% also means a tilt by Tekno towards the Okoye end in the event of a breakup could leave Franklin starting from scratch again. This is the bad angle. But then, prior to Iyanya’s exit, it had always been 50-50 for Ubi. Having a 100% ownership isn’t going to bring the extra cash Okoye’s buy-in has offered right? Ubi certainly needed the money. How badly he needed it, we can’t say!
This kid certainly has many reasons to thank God for 2016 and the new year. The 50% purchase of his label’s shares by MTV Base boss, Paul Okoye means his juice just got richer and sweeter. Tekno is the man with the ace here. As long as he keeps his vibes cool with the fans and reinvents himself, ‘market sure die’ for him. Already listed by BillBoards as one of the top artistes to look out for in 2017 and the upcoming release of his long awaited debut album, Tekno can hardly lose in this Paul Okoye-Triple MG equation. Except he goes stale of course!