Peter Miles has advised artistes to wake up and reinvest the money they earn from music to other businesses away from music. He says that is how he has managed to make it in life. He also talks bout his boats business, music, and so much more.
Peter Miles, real names Peter Kanyike, is a household name in the East African entertainment industry. He has been doing music since 1994 when he was just 14 years old. His music is the type that will have you dancing all night long and his success story should inspire you. He has a boats business under his company, Miles Marines, that earns him money away from the music business.
While speaking to MC Kats, the legendary dancehall artiste revealed quite much about his success story and what plans he has for the future. He also advised fellow artistes to diversify and focus on reinvesting the money earned from music into something that can help them live for the years to come.
About the prices of his boats, one boat goes for USD 40,000 to USD 60,000. He owns over 10 boats, and more being imported.
I do my stuff calculatively. Some of my boats are old ones that I have purchased from old owners and pimped them up to suit the desired quality. People really do love them, and I am making money from this business.
He advises fellow artistes to avoid extravagance with money, and rather to invest in businesses that can multiply their wealth in future years.
Every artiste has to diversify, from the Ugandan music industry to active business and investments. I won’t say that all the money that purchased these boats came from music, I have some other businesses but you gotta be smart while investing. My music is still very relevant and actually on my tours people even ask me for songs that I never got to release. I did not start music with intentions to earn, it was a hobbie. Money was a bonus. Same thing with this boats business, I bought my first boat for luxury. But I realized that the water transport in Uganda is still lacking and my boat was being overly booked. That inspired me to buy more and the business is overwhelming.
Being from a wealthy family background, most people have always written off Peter Miles’ success story saying his destiny was predetermined by his family’s wealth, and he got it all on a silver spoon. But the ‘Mukwano Gwo’ singer strongly refutes that. He says;
Many people claim Peter Miles’ success was expected since I come from a well off to do family but my success is from my own hustle. To be honest, the only investment I might have got from my family that inspired me in life is education, everything else has been from my own hustle. I’ve earned Shs 150,000 for performances before. Radio stations here did not even support me saying my Jamaican kind of music style did not have such a fan base, but when my music crossed to Kenya I was called for gigs and for my very first show there I was paid USD 7,000, approximately Shs 20M. So I realized it was no longer a matter of enjoyment but there was real money in the music business and from that I became very calculative of my every move. It has finally paid off, I have no regrets.
We earlier wrote a story about the singer being handed a deal by UN to evacuate Congolese refugees safely to their settlement camps and about this decision he has this to say;
My decision to help Congolese refugees is very humanitarian. I did not do it for the money, it comes from a very composed desire to save lives of our brothers that often drowned on Lake Albert due to overloading of boats. I transferred some of my boats from Entebbe to Lake Albert and you cannot imagine how many lives we have saved so far. The money does surely come in later, but the primary objective is to save lives and we are achieving that pretty well.
To his fans, you should tighten your seat belts because he promises a music marathon, he has a lot of music lined up for release.
I did not quit music. You do not retire from a hobbie. I do my music at my own pace, and I sell it worldwide so I cater for many fans worldwide. Like I told you, I started music a s a passion, you do not retire from a passion. I am still doing music, and I’ve been compiling my album featuring a couple of international artistes. It is coming out very soon, look out for it.
Well, let us wait for what he has in store for us, and congratulations to you Peter on your successes.