By BigEyeUg Team
Crysto Panda has urged fellow musicians to embrace financial discipline and long-term planning, warning that the music industry is no longer as rewarding as it once was.
Speaking during an appearance on NBS After5, the singer emphasized the importance of joining saving schemes to cushion artists during difficult times.
He pointed out that revenue from music streaming in Uganda remains minimal, with most artists relying heavily on stage performances for income.
“Stage performances too have become rare because event organizers are being taxed too much and sometimes they find themselves in a fix,” he explained.
Crysto Panda further advised especially upcoming artists to understand that industry trends have shifted. While new artists may initially benefit from excitement and frequent bookings, such opportunities are often short-lived.
“When you realize that trends have changed, make something small like a business for yourself or join saving schemes where you can get a big loan to support you,” he urged.
Using his own life as an example, he revealed that he has diversified his income streams beyond music. In addition to his career, he maintains a job and runs small businesses that support his lifestyle and artistic ambitions.
“If I need say 30 million, I can easily ask for a salary advance at work and have them deduct at least 2 or 3 million monthly,” he disclosed, adding that he often reinvests such funds into organizing events and shows to generate more income.