Diamond Platnumz asserts that when he signs artists to his record label WCB, he is extending a significant favor to them. Over the past few years, the Tanzanian musician has faced accusations of binding artists to exploitative contracts while promising to elevate them to stardom.
In a notable instance, Harmonize opted to terminate his 10-year contract with WCB in 2018, citing exploitation as the reason. To break free, he had to pay Tsh500 million (Ksh25 million) as a buyout for the remaining contract term. Similarly, in 2022, Rayvanny terminated his believed 10-year contract by paying WCB Tsh1 billion (KSh50 million) for the four-year remainder.
Rich Mavoko also accused Diamond of subjecting him to an exploitative contract when he decided to part ways with the label. These claims resurfaced when Diamond announced the signing of a new artist, DVoice.
Diamond responds to accusations of exploitative contracts by questioning why artists, upon joining WCB with little recognition, achieve success during their tenure and manage to afford buyouts when leaving. He argues that signing artists is a favor on his part, emphasizing that he doesn’t derive substantial income from signed artists.
The renowned artist explains that signing artists involves significant financial investment to build their brands, and he expects a return on that investment. Diamond maintains that his motive is not charity but a business strategy, as he could have directed the invested money into other ventures.
He firmly states that artists cannot leave WCB at will; they must fulfill their contracts. Diamond provides an example of an artist whose departure would mean relinquishing a substantial share of revenue generated from platforms like YouTube. He underscores the business nature of these agreements, asserting that it is not charity but a calculated investment with anticipated returns.
