Let’s be honest: the South African music industry is full of talent, but many of its legends are struggling financially. We’ve all seen it: artists topping charts, going viral, selling out venues, but a few years down the line? Gone quiet, struggling, or worse, tweeting about being exploited. It’s not just a sad story; it’s a pattern. And the root problem isn’t always mismanagement; it’s often no management. Especially when it comes to money.
The Illusion of Success
Let’s start with perception. A young artist gets 50,000 streams, 10k followers, and an interview on Metro FM, and suddenly, people assume they’re rich. Even the artist believes it. But streaming money is not real money, not yet. To put it into perspective, Spotify pays around R0.05 per stream. That means 50,000 streams = about R2,500 before tax, before label cuts, and before management fees. That’s a decent grocery run, not a lifestyle. And yet, that same artist might be pressured to pull up in a designer, buy bottles, or lend money to family because “you’re famous now.” The hustle becomes performance. And when real-life bills enter the chat? Depression, debt, and a sense of failure kick in.
Where’s the Education?
The truth is that most musicians in South Africa don’t grow up learning about financial literacy. Our schools barely teach us how to budget, never mind how to read a royalty statement. And unless you grew up with a parent who explained tax brackets over dinner (which, let’s be honest, most of us didn’t), you’re walking into the industry blind. It’s even deeper when you add politics to the mix.
The arts in South Africa have long been underfunded, underprotected, and undervalued. Yes, we have institutions like SAMRO and SAMPRA, and yes, they’re supposed to ensure that artists get their dues. But even that system can feel like trying to get a refund from a store that lost your receipt in a fire. It exists, it’s necessary, but it’s complicated.
So, what can be done?
Here’s where it gets personal. I’ve seen artists, brilliant DJs, producers, and singers sign deals they didn’t understand. I’ve seen them go from hopeful to hopeless because no one taught them about saving, investing, or even invoicing. And I get it; when you’re just trying to survive, thinking about compound interest or retirement plans feels like a luxury. But it’s not. It’s survival. If you’re an upcoming artist reading this, here’s a shortlist of what you should know:
- Open a tax-free savings account. It’s free to do, and it’ll help you build some cushion.
- Register a business. Your music is a brand. Protect it. You can even invoice as a business and lower your personal tax load.
- Keep your slips. S/O to SARS, they will come knocking. Know your expenses.
- Read your contracts. No, really. Read them. Then give them to someone who understands legal jargon. It might save your career.
- Understand that fame ≠ wealth. Learn the difference early.
The Way Forward
We need a cultural shift. Imagine if music festivals included panels on financial literacy. Imagine if radio interviews asked artists about their budgeting tips, not just their upcoming shows? And imagine if record labels, instead of just doing “advances,” invested in financial training for their signees?
That’s not too idealistic; it’s necessary. Because when our artists are financially empowered, they create more freely, stay independent longer (if they want), and stop being afraid to speak out about exploitation.
Let’s stop celebrating artists only when they’re trending. Let’s start celebrating when they own their masters, buy property, and retire on their own terms. Because financial education isn’t just about money. It’s about freedom. And in a country like South Africa, with its history, its hustle, and its heartbreaks, that freedom means everything.
If you’re an artist and you’ve made financial mistakes, you’re not alone. Start where you are, ask questions, and don’t be embarrassed. The music is important. But so is the bank balance. Your legacy deserves both.
Born and raised in the charming town of Empangeni, KwaZulu Natal, Sabelo Khanyile has carved out a unique niche in the creative world. Now based in Cape Town, Sabelo is a multifaceted artist known for his dynamic work as a DJ and photographer. His creative journey has led him to collaborate with notable figures such as Micael Matthews and showcase his work at prestigious events like SA Men's Fashion Week. His striking photography has also graced the pages of Vogue Italia, marking him as a significant force in the global art scene. In addition to his work as a DJ and photographer, Sabelo serves as the Creative Director of Adult Content Dreams, an innovative online platform dedicated to celebrating art, fashion, and music. Despite the provocative name, the platform is far from a site for adult content. Instead, it offers a vibrant space for the youth in South Africa to explore and engage with contemporary art and fashion, providing a creative outlet that fosters expression and connection through various artistic mediums. Sabelo’s diverse talents and creative vision continue to influence and inspire, making him a prominent figure in South Africa’s evolving cultural landscape.
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