In this episode of Finance for Hippies, we discuss business in the music industry with the self-made rapper, independent record label owner and environmentalist, Durban city’s very own Aewon Wolf. As we look back at the evolution of his illustrious career in music, where he helped pioneer the Durban hip-hop music scene locally and internationally through his independently-run Wolfpack label, his place in South African music history is certified by his involvement in the breaking of landmark music artists such as Sketchy Bongo, Shekinah, Kyle Deutsh and multiple other acts, including himself.
At one stage referred to as “South Africa’s only rapper with an LLB degree”, on this special episode, we discuss some of the mistakes he and other music artists usually made regarding contracts and ownership of masters. We specifically look at how hard it is for up and coming artists in the middle of the music industry to get their legal affairs in order and how they usually fall victim to unscrupulous record labels, or as Aewon calls them, banks with expertise in the music industry.
In this very open-hearted discussion, we cover the challenge of monetization within the music industry and study how he has built great relationships and loyalty that have led to working with great brands over a sustainable period of time. Aewon Wolf reflects on how he decided to review the way he looks at life and started to determine what he wanted from life and music and what he values in life compared to a normal stereotype of a rapper. He describes the benefits of having your own record label and how it differs from working and promoting other different acts.
If you're a new musician in the industry, this is one of the most important conversations that you will need to listen to before embarking on a career in music.
PERSONAL FINANCE