Senegalese-American singer Akon has shared his view on the financial reality of the music industry, saying many musicians are not as wealthy as the public believes.
According to the singer, the glamorous lifestyle often displayed by artistes in music videos and on social media does not always reflect their true financial situation. He said fame and financial success do not always go hand in hand for performers.
Speaking during an interview with Hip Hop Eye, Akon explained that while the music industry generates huge amounts of money, artists are often not the biggest beneficiaries.
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He said those who work behind the scenes usually earn more and enjoy greater financial rewards.
The singer noted that performers are usually the last people to receive payment from the revenue generated within the industry.
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As a result, many artistes become highly recognized by the public but may not have the level of wealth people associate with their celebrity status.
Akon further explained that there are several other areas within the entertainment business where individuals can build stronger financial success.
He pointed to roles such as music production, songwriting, artiste management, talent representation and legal services as some of the positions that offer better earning opportunities.
He maintained that people who are interested in making substantial income from the music business should look beyond performing alone and consider the many professional roles that support the industry.
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“In the music industry, the artist is the last to get paid. He is the broke one but he is the most famous. If you want to be broke and famous, be the artist.
“But if you want to make real money go to other sectors of music business, like the producer, songwriter, manager, agent and attorney. There are so many areas in the entertainment field that you can really maximise,” he said.
