YBNL Music founder Olamide has approved the early contract termination of artist Asake, videowheelztv reports.

The contract dissolution grants Asake ownership of his master recordings from his tenure with the label. Both parties have established a 10-year royalty-sharing arrangement to continue the financial terms of their original agreement.

The separation took place in recent months, following Asake’s release of his album “Lungu Boy.”

Speaking on the separation, Olamide reportedly said:

I didn’t create YBNL because I wanted to make money. I created it because I wanted to see other young people grow, so if any artist under me wants to leave, they are free.

He added more specifically that,

Asake has done his part, and I’m proud of him.

Reports earlier this week revealed that Asake removed all YBNL-related content from his social media profiles and unfollowed his connections, including Olamide.

Sources indicate that Olamide extended a new contract offer to Asake following the expiration of his initial YBNL agreement.

Despite Olamide’s attempts to secure Asake’s continued partnership, the artist declined the offer, choosing to separate from the mentor who significantly contributed to his international success.

An insider disclosed that the situation reached its conclusion two weeks ago when Asake definitively ended negotiations, expressing his intention to operate independently.

The development marks a significant shift in their professional relationship, which began in 2022 when Asake first signed with YBNL.

During his tenure with the label, Asake achieved remarkable success, releasing multiple hit singles and notably selling out London’s O2 Arena on two occasions.

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Olamide thrilled fans at the 2024 Flytime Fest, marking the return of the highly anticipated annual festival. The Grammy-nominated rapper made a grand comeback to the prestigious stage of Eko Hotel, headlining one of Nigeria’s most celebrated music events.

Sharing the spotlight with American rapper Gunna, who performed in Nigeria for the first time, Olamide brought unmatched energy to the festival.

Gunna delivered a dynamic set featuring his chart-topping hits like “Fukumean,” “Yosemite,” and “Drip Too Hard.” He created an unforgettable experience for the audience.

 

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Olamide’s 2024 has been nothing short of remarkable. The YBNL boss released multiple guest features and his 10th solo project, Ikigai.

At the festival, he performed an electrifying medley of his iconic hits, showcasing the songs that have defined Nigerian music and solidified his dominance in the industry for over a decade. His stage presence left fans in awe and reaffirmed his legendary status.

The event also featured appearances by Afrobeats stars such as Omah Lay, Reminisce, Zlatan, and Bella Shmurda.

They have all previously collaborated with Olamide. Each artist brought their unique flair, elevating the night’s excitement.

 

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To the audience’s delight, Grammy-winning superstar Wizkid made a surprise appearance. He performed tracks from his groundbreaking sixth album, Morayo, adding another layer of brilliance to the event.

The Flytime Fest, renowned for delivering top-tier entertainment, continues on December 24 and 25. The lineup promises headline performances from Grammy-nominated Ayra Starr and Davido, ensuring the festival concludes on a high note.

With such stellar acts and unforgettable moments, the 2024 Flytime Fest cements its place as a highlight of Nigeria’s entertainment calendar.