IN a ground-breaking initiative to boost financial literacy within the creative sector, Infocus Business Synergies (Pvt) Ltd in partnership with the Zimbabwe College of Music will host a seminar this August aimed at equipping musicians with business tools to better manage and monetise their art.
The Infocus Artist WealthLab comes as most Zimbabwean artistes do not have access to marketing, monetisation tools and tailor-made financial services.
The seminar thus seeks to help musicians to unlock financial value from their creativity through tailored financial products and direct engagement with experts in marketing, advertising and financial planning.
In an interview with NewsDay Life & Style, Infocus Business Synergies (Pvt) Ltd board chairperson Gerald Dzangare (pictured) said the event, themed Running Your Music Career Like a Business, will bring together local artistes and their managers and some of the country’s largest financial service providers.
"Financial literacy is the lifeblood of sustainable economic prosperity. Our theme for this event is Running Your Music Career Like a Business,” Dzangare said.
“Our expert partners will unpack how to profitably run one's music career. Creativity has value and there are financial products that are designed to unlock that value and translate it to money.”
He further emphasised the seminar’s economic relevance, noting that the country’s entertainment industry is contributing less than expected to the gross domestic product (GDP).
“There are a lot of industries that benefit upstream and downstream from a vibrant and prosperous music industry,” Dzangare said.
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“Ideally, the entertainment industry is meant to be a big contributor to GDP. Although thorough formal studies have not been done of late, it is believed that our music industry is contributing very little to GDP.
“A financially literate and business savvy artiste will contribute to improving GDP and this seminar is a key step in this positive direction.”
The Infocus Business Synergies board chairperson also noted that the seminar stands out by offering comprehensive expertise under one roof, from marketers to broadcasters, financial institutions, accountants and business consultants.
“Business experts will be sharing with the artistes how they can manage their talent as successful businesses,” he said.
“Broadcasters, among other experts, will be engaging artistes on the product that is expected out there. Marketers will also share their expertise with artistes on how they can market their products and generate revenue streams while advertisers will add advertising expertise.”
Organisers of this seminar have high hopes that this initiative marks a turning point in how the country’s creative talent is treated, not only as artistes, but as entrepreneurs and contributors to the national economy.
