Celebrity lifestyle is different from the regular 9 to 5. When you work 9 to 5, you’ll expect to get paid at the end of the month. This income is fixed and a reflection of your current role or position at your place of work. This is different for celebrities.
There is so much regular persons don’t know about how celebrities make their money. Fame is a game, and only those who know how to play it very well stay long in the game. It’s not a regular game, as the persons involved have to be able to squeeze money from where it is.
There are different type of celebrities, basically separated by industry. All these celebrities make their money in different ways.
This article is provided by zoomboola.com
Literature
Selling books is one of the main ways celebrities make their money. The income here depends on how popular and influential the celebrity is. Especially if you have a bankable name, publishers would try to get you on a deal. In most of these deals, you get paid an advance before you even write the book.
Other outlets from which celebrities make their money is by allowing biographies, blogs and other form of contents be made from their lives.
Clothing Lines
Fashion is another great venture in which celebrities can leverage their popularity and name. Fashion is a way to reach an audience that isn’t interested in books or whatnot. When you give them something cool to wear, they’d drop the top dollar for it. When the market positioning is right, this can become a money making machine. The clothing brand does all the work and place the name of the celebrity on it. The profit is then shared.
Fragrances
The beauty industry is also a very profitable venture for celebrities, partnering with top brands to release products (exclusive or not). Female celebrities are more common in this industry than the male counterparts. This trend is one which most beauty brands try to maximize to drive more sales. In this sorts of partnerships, celebrities also have to be careful not to have the name or face on a fake or substandard product.
Photo Shoots
Several other brands and industries also occasionally call on celebrities to feature in the marketing of their products. The celebrities show up for the photoshoot and get paid for their time and the use of their general image in marketing the product. These various product endorsements are cash flows for the celebrities, as they may have endorsements in different industries for numerous brands. The job of such money making venture is the renewal of contracts.
Final take
There are several other avenues for celebrities to make money. It all depends on the management of such celebrity being able to recognize opportunities and take a hold of it. However, the money will only come to celebrities who still have their images intact. Hence, such celebrities need to be more careful of what they do daily, if they want to raise any money.
*
Be the first to comment.