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Nigerian artiste Spyro has urged upcoming Nigerian artists to focus on financial planning and investment, saying success in music goes beyond streaming numbers and social media popularity.
Speaking in an interview with NewsCentral TV on Wednesday, Spyro said the economics of streaming and social media have changed how artists earn, noting that location and market size also affect income.
“The economics question… it has affected it a bit because if you’re making music in the UK, you make more money than someone making music in Nigeria,” he said.
“What I usually say to artists is… You need to start investing.”
Nigerian artiste @spyro__Official says musicians must begin to think beyond immediate earnings and focus on building sustainable financial security.
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He advised artists to prioritise saving and investing early in their careers to avoid financial struggles later in life.
“You need to start to invest… that is the mistake a lot of our predecessors made, that is making them still pay house rent till date, still find money to eat till date, because they didn’t understand the investment side to music,” he added.
Spyro added that artists who plan well can secure long-term stability even after stepping back from active music.
The songwriter went further to reference veteran artist Banky W as an example, noting that his financial stability has helped maintain public respect despite a reduced presence in the music industry.
“Now personally, the reason why people still see Banky W today and respect him is because he’s doing well for himself… you can’t push him aside because he’s doing well for himself,” he said.
He concluded by encouraging artists to protect their earnings early and think long-term rather than focusing only on fame and trends.
