CEO of Ghana Music Awards USA, Don D, lamented the lack of profitability in award schemes. While discussing the Ghana Music Awards USA, Don D disclosed that he hasn’t generated any income from the awards since its inception.
The scheme began during the COVID-19 pandemic, and in the second and third years, they faced similar financial challenges. It was only in their fourth year, which was last year, that they managed to break even.
“We started the award scheme during the COVID period, and in the second year, there was still COVID, but the third year, we broke even. However, last year, we ran at a loss, and we ended up in debt. Award schemes don’t make money,” he explained.
Speaking to Afia Owusu, professionally known as Afia Coke, on TV XYZ, the CEO revealed that he has personally invested over $200,000 to fund GMA USA.
“I have not made money from organizing the Ghana Music Awards USA. I can tell you with authority that I’ve invested over $200,000 out of my pocket over the four years and am still spending, but I haven’t made a dollar back,” he emphasized.
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