New York, NY (PRWEB) September 29, 2013
Following the release of Forbes’ September 19th article, entitled “Jay-Z and Beyoncé Top Our List of the Highest-Earning Celebrity Couples”, Celebrity Business Analyst analyzed the couple’s main sources of income, as well as identifying the trends found in most celebrity business ventures. Jay-Z and Beyoncé, both music moguls, glean the majority of their wealth from business found outside of the work they have been made famous for, including clothing, sports, and personal branding. Celebrity Business Analyst acknowledges these tendencies, identifying three reasons that celebs should follow the Beyoncé trend and try to make money outside of their main gig.
In the recent Forbes article, Dorothy Pomerantz identified Jay-Z and Beyoncé as Forbes’ highest-earning celebrity couple, raking in approximately $95 million this past year. Though both are well-known in the music industry and have a consistent and devoted fan base, a large portion of their earnings come from business ventures, including Beyoncé’s personal clothing and perfume lines, while Jay-Z’s income was generated through his sport representation company, Roc Nation Sports. Though each brought in substantial sums for their concern work in this last year, Beyoncé and Jay-Z have been firmly established as savvy businesspeople, investing the money they have made in the music industry in their own interests outside of the industry.
Celebrity Business Analyst discovered a commonality in the earnings of Beyoncé and countless other male and female celebrities: clothing and perfume. Though these endeavors may seem small, numerous celebrities rely upon these types of income to supplement their makings, either in music or in film, including Britney Spears, Jennifer Lopez, Hilary Duff, Will.i.am, and Justin Timberlake. Clothing lines often allow celebrities to attach their names (and wallets) to a high-selling product, without the difficulty of designing or manufacturing the product itself. This partnership is ideal both for the celebrity and the company producing the clothing or perfume, as it draws in a solid fan base for the company, generating revenue for the celebrity.
CelebrityBusinessAnalyst.com believes that there is one particular reason why celebrities should capitalize on product endorsement endeavors early on in their career:
1. Use the fame while you still have it.
Some people become legend because of their ongoing careers. Some people are one hit wonders. If celebs don’t know which category they will fall under, yet want to be rich and stay rich, getting product endorsement deals and/or creating their own product is a savvy business choice. A celeb would have to however, make the deal while they have the fame to sell! Celebs should do all they can early on in their fame and glory because no one knows how long it will last.
Dorothy Pomerantz is a regular contributor to four, compiling the Celebrity 100 list. When she is not busy constructing the list, however, she composes articles about celebrity affairs and finances for Forbes.
Following the September 19th Forbes article, Celebrity Business Analyst announced their reason why celebrities should capitalize on their fame, through product endorsements, early on in their career. The greatest trend found in celebrities in TV, film, and music is the advent of clothing brands or clothing companies, allowing celebrities to attach their names and earnings to a concrete product, while promoting the product through their already-amassed fan base. These partnerships are lucrative for both parties, providing an excellent business step for celebrities of all fields and ages. To see more of Beyoncé and other celebrities who have their products televised via commercial broadcasts, check GoDish.com for info on dish network promotions.
About Celebrity Business Analyst:
CelebrityBusinessAnalyst.com is an online resource for celebrity and film news and analysis, focusing on the financial aspects of fame and the film industry.