Mr Eazi reacts to claim that record label advances are loans

According to NotJustOk Nigeria, Award-winning singer and performer, Mr Eazi has reacted to a post on social media calling record label advances to artists a loan that must be repaid. Nigerian singer and entrepreneur Mr Eazi has explained why artistes may not necessarily have to repay record label advances from their personal funds if their music fails to generate enough revenue before their contracts expire. The Comfort singer’s comments came in response to a statement describing record label advances as loans secured against an artiste’s future, rather than gifts. Agreeing with the statement, Mr Eazi highlighted what he considers a key difference between a conventional loan and a record label advance. “True but the difference is if you drop drop and you don’t pay back and your contract expires nobody go pursue you to pay back that money!” he wrote. His explanation suggests that when a label advances money to an artist