In his insightful perspective, Gariba highlights the common plight of many musicians who find themselves financially vulnerable in their later years due to a sole reliance on music for income. He underscores the need for musicians to explore alternative ventures to safeguard their financial future.
Gariba’s advice resonates with the evolving landscape of the music industry, where revenue from music streaming and traditional sales alone may not suffice to sustain artists. He draws attention to the global trend of renowned artists engaging in diverse business ventures alongside their music careers, citing examples like BeyoncĆ© and Rihanna, who have successfully ventured into fashion and makeup industries, respectively.
Encouraging musicians to adopt a similar approach, Gariba stresses the importance of establishing supplementary businesses to mitigate financial uncertainties that may arise in the future. He emphasizes that diversifying income sources not only ensures financial security but also fosters resilience against the inevitable fluctuations in the music industry.
Reflecting on his experience as an artiste manager, Gariba observes instances where artists, despite possessing the means, overlook opportunities to invest in alternative businesses. He underscores the significance of seizing financial opportunities and wisely utilizing resources during periods of financial abundance to create a sustainable foundation for the future.
In conclusion, Gariba’s insightful counsel serves as a reminder to musicians of the importance of strategic financial planning and diversification beyond music, offering a pathway to long-term financial stability and prosperity.
