The relentless march of modernity has led many to connect to digital television services, exposing them to the grim reality of mainstream media news. This experience reveals a profound conclusion: watching the news today is not for the faint-hearted. Politics and political discourse, which constitute nearly 80% of television content, are electrifying and could potentially be a major cause of heart failure by 2030. Enveloped in layers of deceit designed to manipulate public opinion, this content drives viewers toward a particular line of thought. The intensity heightens when two opposing factions each try to paint a different picture, leaving the populace bewildered about who is lying and who is not. The result? A confused citizenry, ensnared in political manipulation and mind games.
It is disheartening that one of the most significant pillars supporting politics is economics, where the ultimate aim of politicking is monetary gain. Many political behaviours and policies are driven by the sheer objective of making money, which is a concerning reality.
The recent presentation of the Uganda National Budget for FY 2024-2025 by the Ugandan Minister of Finance, Matia Kasaija, highlighted a critical issue. While this event was once highly anticipated, it has now left many disheartened. The minister’s conclusion called upon those in the marketplace, farmers, young people, and the arts industry to exploit the provisions of the 2024-2025 budget. This simultaneous acknowledgement and mockery of the arts industry were alarming. Industry players likely expected explicit mention of substantial funds allocated for initiatives such as establishing and enforcing efforts around copyrighting artists’ intellectual property—music, among other crucial needs of the industry. Ignoring such aspects in the budget is a significant oversight.
The Uganda Musician Federation appears to have reduced itself to a group of ‘happy boys’ enjoying casual jam sessions in Kampala, rather than holding evaluative sessions aimed at shaping the industry’s future. The budget’s outlook suggests that the state has yet to recognize the monetary value of music. This realization needs to be achieved before parliamentary visits, persistent lobbying, and night jam sessions yield any meaningful impact.
The music industry, despite its political importance during election seasons, does not make enough economic sense to the state beyond these periods. This commentary aims to change that perception, offering practical methodologies on how music can be transformed into a national economic revenue stream. Given that any government’s primary interest is in taxes, the state must learn how to harvest taxes from music, thereby reinforcing artists’ financial foundations. Monetization is key.
In today’s music industry, revenue streams for musicians extend far beyond stage performances. By diversifying their income sources and tapping into opportunities in licensing, merchandising, album sales, and more, Ugandan musicians can maximize their earning potential and build sustainable careers in music. Additionally, providing financial literacy resources and education can empower artists to manage their finances effectively and make informed decisions about their careers. Let’s explore these concepts in more detail:
Streaming Revenue
With the rise of digital streaming platforms like Spotify, Apple Music, and YouTube Music, artists can earn revenue from streams of their music. While the payout per stream may be relatively low, consistent streaming activity can accumulate significant income over time, especially for popular artists with large fan bases.
Digital Downloads
Despite the shift towards streaming, some fans still prefer to purchase digital downloads of music. Artists can sell individual tracks or full albums through online music stores like iTunes, Google Play Music, and Bandcamp, earning revenue from each purchase.
Sync Licensing
Licensing music for use in films, TV shows, commercials, video games, and other media projects can be a lucrative revenue stream for artists. Sync licensing deals involve upfront payments and ongoing royalties, providing artists with exposure to new audiences and additional income opportunities.
Merchandise Sales
Artists can monetize their brand and fan base by selling merchandise such as t-shirts, hats, posters, and other branded items. Merchandise sales at concerts, online stores, and third-party retailers can provide a steady stream of income and strengthen the connection between artists and their fans.
Brand Partnerships
Collaborating with brands and companies on endorsement deals, sponsorships, and brand partnerships can provide artists with additional income opportunities. These partnerships may involve product placement, promotional campaigns, and appearances at events or activations, providing artists with exposure to new audiences and financial support for their projects.
Education and Training
Providing artists with access to financial literacy resources, workshops, and training programs can empower them to better understand their finances, manage their income, and make informed decisions about their careers. Topics may include budgeting, tax planning, contract negotiation, and investment strategies.
The Uganda Revenue Authority (URA) may now see a potential cash cow from which to harvest some tax revenue. Let all eyes be on the 2025/2026 FY budget reading, with hope that it will not be as politically driven as expected.
