TAKEAWAYS

• Crysto Panda says only top artists earn significantly from streaming platforms.
• He notes concerts are no longer as profitable due to high taxes and venue costs.
• He urges musicians to create side hustles and use federation opportunities like loans.

Musician Crysto Panda has advised fellow artists to stop relying solely on music for survival, urging them to establish multiple income streams as the entertainment industry becomes increasingly difficult to profit from.

Speaking during an appearance on NBS After 5, Crysto Panda dismissed the common belief that streaming platforms are a dependable source of income for every musician. According to him, only top-tier artistes with massive catalogues and strong international reach, such as Eddy Kenzo and Joshua Baraka, are currently making meaningful money from digital platforms.

For many upcoming and mid-level musicians, Panda said, the reality is very different.

“Streaming money is for the bigger artists. For many of us, concerts used to be the real source of income, but even that has gone down these days.”

He explained that live shows, once the backbone of musicians’ earnings, are no longer as profitable because the costs of organizing concerts have become too high. Taxes, venue hire fees and promoter expenses have all risen sharply, leaving little room for profit.

Panda noted that his ability to remain financially stable has largely come from diversifying beyond music. He encouraged artists to embrace side businesses, partnerships and even financial opportunities available through industry structures like the musicians federation led by Eddy Kenzo.

“Whether you agree with the federation or not, use every available opportunity to benefit yourself. Musicians need extra sources of income to survive.”

The rapper stressed that even those who criticize the federation should still explore services such as loan access and professional support where possible, instead of dismissing potentially helpful opportunities.