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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