“Don’t Spend But Invest”- Youthful Tycoon Rajiv Tips Artists Through Performing Arts Conference 2020

“Don’t Spend But Invest”- Youthful Tycoon Rajiv Tips Artists Through Performing Arts Conference 2020

Accessdome.com: an accessible web community

By Frank Kamuntu 

Kampala: Youthful tycoon Rajiv Ruparelia, the managing director Ruparelia Group of Companies, on Thursday, October 15, 2020, tipped global performing artists at their Performing Arts Conference, an event that was held at Uganda’s private leading higher institution of learning, Victoria University on how to star small and grow big through savings.

READ ALSO: Victoria University To Host Business Mogul Maggie Kigozi To Tip Ugandans On Success & Failure Of Family Businesses

Rajiv, while addressing the artists to avoid unnecessary expenses which he said is the route cause of poverty, if they needed to enjoy their future days without having to hustles so much.

“You should know that each coin of money spent, costs another time to retrieve it and remember time is money, therefore, I urge you not to spend but invest in the various businesses so as to yield profits and save your lives from poverty that comes with a couple of barriers. So please, let your youthful years work for your old age,” Rajiv advised.

Rajiv Ruparelia (2nd R) Galaxy Fm CEO Dr. Innocent Nahabwe (3rd R)  And Other Panelists Tip Artists During The Conference

READ ALSO: Victoria University To Host Minister Baryomunsi, Business Magnet Bitature To Post COVID-19 Real Estate Investment Conference

Later after the conference, Rajiv took it to his Twitter account and posted thus; “It’s an honour to speak at the Performing Arts conference under the Panel of ‘Entrepreneurship & Financial Management’ Microphone. Victoria University has continued to give a platform for young, experience and upcoming talents to speak out and share ideas & massive thanks to the panelists,”.

In addition to this conference, Victoria University has previously organized a couple of conferences noting the previous business webinar themed; “The Success and Failure Of Family Businesses In Africa” which was broadcast live on both Victoria University’s You-Tube channel and Facebook last Wednesday, October 14, 2020  and  a mega e-conference under the theme ‘Women In leadership on 18 September  which  featured Ms. Sheena Ruparelia, Director at Ruparelia Group of companies, President for Uganda Law Society, Ms. Pheona Nabasa Wall and NBS TV’s  Karitas Karisimbi Nalongo among others.

Mr. Nahabwe, who is also CEO to a music site, https://www.howwebiz.ug tasked artists in Uganda to work more harder to organize their industry so they can benefit from their since over 95% of their music is still accessed from free sources thus losing revenue. read his full comment below which he even shared on his Facebook page.

“I had an interesting conversation with artistes on Friday at the ReachaHand #performingArtistsConference.
Whereas most are dying to sell music now, the industry is too young and the market is not ready just yet to buy the music. 95% of the movies we watch are pirated. 99% of the music we listen to is from free sources.

The availability of the free music is what has enabled thousands of artistes to break through. No one or very few would have bought their music as they started. The music came through by them spreading it on radio, TV , blogs and music platform. People were able to ‘taste’ it, like it and then fall in love with them. As the fans grew , they were booked for shows and has higher downloads on paying channels such as Spotify, youtube and others. Note that to make 1000USD off these streaming services, you need at least 300k views for the video. How many artistes in Uganda have such views ? Our Luganda songs have limited appeal outside this country. Yet, here in Uganda, the streaming market is small. We have a population of about 42M people, 50% of these are below 18 ( dependants) about 10 % above 50 ( usually less interested in the music most of us produce), over 30% aren’t in the economy. They eat what they grow or are dependents. They don’t have money. That leaves a very small effective market for streaming music.

Given choice and the need to pay, Ugandan artistes will easily give way to Nigerian, Tanzanian , South African artistes whose music is available free. Why would i play a local artiste for money yet there is great music from elsewhere available free? Soon, we shall find ourselves falling in love with that music and playing it more. Who loses?

My take on this is that is that all players need to work together to make it possible. Produce great music, avail it to as many platforms as possible, take over the Ugandan music market almost completely, then work with platform owners and other stakeholders to find ways to commercialize the music.

In the meantime, artistes need to register their music copyright. They need to organize themselves as a business and look at their trade as a business. They need to surround themselves not with bouncers, weed suppliers and cheer leaders but good professionals such managers, lawyers, songwriters, brand managers, marketers who will sell them as a multimedia business. This will grow them into huge Love marks , bigger than just brands, making them top influencers, and business partners for beverages, fashion, entertainment and other high paying enterprises.

It’s possible . We need to work with each other to make it possible!”

Hope you are Good, this is my reaction in reference to your post, in this day and age I won’t support the notion of giving out Music or any form of Content for FREE, I support your idea of Creatives reorganizing and adopting good business practices, we are now at a stage where we should ask ourselves a question what should come first commercialization or professionalization, because the team of professionals that you suggest they hire shall need remuneration.
Anyhow having mentioned commercialization above, I 💯 support the idea of all stakeholders working together to devise means of commercializing local digital platforms (in my opinion this a very critical aspect that should be prioritized, professionalizing, disciplinary issues those we can work on as we move along, but works owners and creators have a right to earn and need to start earning regardless), you well know as standard practice for most FM radio stations including the one you founded Galaxy FM 100.2 in order for you to attract advertisers you first gave free airtime, along the way as it picked up, you started charging.
Therefore the Creative Industry isn’t any different, right now is the time when we need to start working together to commercialize, let’s assume 2000 to 2020 was when we were giving out free to attract consumers, our content is now being appreciated and consumed (about the statistics I shall vail them next time but yours were tilted to support your patronizing narrative) it’s time to Commercialize, PERIOD!
Yours Truly
Emma Carlos
Music Business Consultant”

Accessdome.com: an accessible web community

Accessdome.com: an accessible web community

Related Post

Leave a Reply

Your email address will not be published. Required fields are marked *

%d bloggers like this: