“Investment exceeded earnings, balances remain unrecouped” – Dapper Group CEO responds to claims

Dapper Group Responds to Allegations Amid Ongoing Dispute

In a recent statement, Damilola “Dapper” Akinwunmi, the founder of Dapper Group, addressed ongoing allegations and disputes regarding contracts and relationships with several artists, including Seyi Vibez, Shallipopi, and T.I. Blaze. Akinwunmi emphasized the importance of silence in business. However, he felt compelled to respond due to the negative narrative circulating online.

Akinwunmi stated that he has chosen to refrain from public discourse historically, believing that business disputes should be resolved through factual discussions and legal agreements. He expressed concern that his silence has been misinterpreted as an admission of guilt.

He clarified that the relationships with the artists were built on mutual agreement, with contracts released in advance for review and negotiation. He noted that legal counsel was present during negotiations for each contract, including those with Shallipopi and T.I. Blaze, and that all compensation under these agreements was paid promptly upon execution.

Addressing claims that artists were unaware of their contractual obligations, Akinwunmi stated that the artists involved were informed and engaged in the negotiation process. He argued that misunderstandings stem from dissatisfaction with contractual terms rather than a lack of awareness.

The situation gained particular attention following Shallipopi’s arrest early in their partnership. Akinwunmi revealed that Dapper Group provided legal assistance for both Shallipopi and a friend arrested with him, countering claims that the company took advantage of its artists during a challenging time.

Further clarifying the operational role of Dapper Group, Akinwunmi detailed extensive investments made in recording, marketing, and logistics, which included significant expenditures on music videos and promotional campaigns. He emphasized that the financial risks taken by the label were necessary for the growth and success of the artists involved.

Akinwunmi addressed the misconceptions surrounding ownership of music masters, explaining that it is standard industry practice for labels to retain rights to recordings funded by them. He reiterated that the terms of master ownership were disclosed and agreed upon by all parties before signing.

In light of the ongoing frustrations expressed on social media, Akinwunmi extended an invitation for an independent forensic audit to review Dapper Group’s financial records. He urged that any discrepancies in accounts or contracts be examined thoroughly and put to rest based on factual evidence rather than public speculation.

He also condemned the increasing use of threats in the current situation, reiterating that disputes should not escalate to such a level. “A disagreement about a contract should never reach that point,” he remarked.

Concluding his statement, Akinwunmi expressed gratitude to his team and acknowledged the challenges faced in the music industry. He emphasized the importance of collaboration and education among music executives to ensure that artists understand their contracts and the business landscape better.

“I did not build a career in this industry in order to take from artists. Everything I have is tied to artists doing well,” he concluded, urging the public to await facts and let the appropriate authorities assess the situation accurately.

Read Full Article