The South African Music Industry Council (Samic) has called on local artists to be financially prudent and educate themselves about the commercial end of the music industry so they can be self-sufficient when they retire.
The organisation made this passionate plea during a wide-ranging interview with Sunday World following media reports that South Africa’s most sought-after female artist,Makhadzi, flew to the BET awards after obtaining a loan from loan shark because she was too broke to afford a plane ticket.
Makhadzi’s plight also comes after reports that EFF leader Julius Malema paid an exorbitant medical bill for controversial rapper Shebeshxt at Polosho Private Hospital because he did not have medical aid after being initially admitted to Polokwane Provincial Hospital, a state facility, where he received poor medical treatment.
Samic president Vusi Leeuw said artists should assimilate as much erudition as possible about the commercial side of the industry so that they can make sound financial decisions.
“The series of stories about artists failing to meet their financial obligations or failing to sustain themselves should serve as a wake-up call to our artists to spend their hard earned cash wisely and save for rainy days.”
Leeuw said that his organisation has been conducting workshops to educate musicians about the financial side of the cut-throat industry.
“We conduct a minimum of five workshops per year but they are poorly attended simply because artists tell themselves that no one can tell them anything about their finances. They often ask themselves, ‘Who are you to tell us about our finances?’ That is why these workshops are poorly attended,” he said.
Leeuw further stated that artists should conduct themselves the same way trail-blazing footballers do when they venture into the industry. “ Young kids who play football at the amateur level know the rules of football, they know the leaders of PSL and Safa and relevant stakeholders, but you cannot say the same about artists.
“The level of ignorance in our industry is shocking,” he lamented.
Payola payments and black tax were also factors that contributed to the impoverishment of artists, Leeuw said.
“Many artists pay payola for their songs to receive airplay instead of using these funds to build the fat for the rainy days. This is unnecessary but they do these illegal transactions because of their limited know-how,” he said.
He further said many artists got excited after signing a record deal and lied to their families that they have found high-paying jobs.
“As a result, they create high expectations from their families and are forced to get advances to pay [so-called] black tax even when they are not ready to do so,” he said.