We're in a financial crisis - Zylofon Music PRO admits
7th January 2019
Following the recent challenges facing its parent company Menzgold Ghana Limited, Zylofon Music is in a financial crisis, Head of Communications of the label, Arnold Asamoah Baidoo has disclosed.
Speaking on Peace FM’s Entertainment Review, the Entertainment Analyst indicated that activities at the record label is currently being halted due to a financial crisis it is being faced with.
He asserted: “As we all know Menzgold has been facing some challenges in recent times and it is expected that as a sister company to Zylofon Music, the record label would encounter crisis too,”
This comes on the back of rumours that the company has asked some of its managers to resign and that some of its artistes were about to exit the record label.
Even though Gospel musician, Joyce Blessing, has refuted claims that she has left Zylofon Music record label, Arnold also stated on Peace FM that it is possible some of the artistes may bail out on the company in the midst of the crisis.
“As we speak, Joyce Blessing is part of the record label. No artiste has left but the possibility of they leaving in times like this is imminent,” he added.
At the moment some of the artistes are relying on their own means to promote their projects and craft.
Joyce Blessing is currently promoting her new single, Repent, which unlike previously, bears no signature of Zylofon Music.
Zylofon Music stepped into Ghana’s entertainment industry in 2017 when they signed Highlife musician, Kumi Guitar.
They later brought on artistes like Stonebwoy, Joyce Blessing, Becca, Obibini and Shatta Wale.
Founded by Nana Appiah Mensah, who also owns Menzgold, the Zylofon Media conglomerate has under its umbrella other companies like the Zylofon Arts Club, Zylofon Arts Fund, Zylofon Movies, Zylofon Cash, Zylofon FM and Zylofon TV.