Many people in the United States enjoy reading the latest in celeb gossip, entertainment news, and urban news. While some may follow latest Hollywood gossip on their favorite actor or actress, others want to be-in-the-know on anyone that’s considered to be a celebrity. There’s much more to celeb gossip, however, than the clothes they wear, who’s-dating-whom, and how much money they earn.
When celebrities discuss or promote a personal cause, readers and viewers alike often listen. It’s interesting to note that celebrity-inspired support is higher for the younger versus the older generation. Adults between the ages of 18 to 36, for example, represent 27% of those that will also take action on a celebrity’s cause. Just 10% of Americans over 68, however, will be inspired to do so.
Celebrity Product Endorsements
Businesses that sign on a big-name endorser can increase their sales and stock returns significantly. Harvard Business School conducted a study in 2011 that found that having celebrity endorser can potentially increase sales by $10 million every year. Furthermore, this can also bring a 0.25% stock return increase, which can definitely add up. By way of example, people within the Hip Hop demographic alone contribute $500 billion a year for a variety of products and services.
Celebrity Industry Revenue
Every year, the celebrity gossip industry’s combined revenue exceeds $3 billion. In addition to reading news online or in print, the Black Entertainment Television (BET) network is watched in over 90 million homes throughout the word. By 2010, BET was not only the most prominent network directed toward a young African-American audience, it was also the top provider for entertainment and cultural-based programming for this audience.
Then there’s Oprah. From 1996 to 2011, The Oprah Winfrey Show was on the air for 25 seasons. With an audience of 10 million viewers, this show grossed $125 million at the end of its very first year. Oprah’s share was $300 million for that year.
Will Smith is another highly paid actor in the television and film industry. In fact, he is at the top and one of the most highly paid. Almost all of the films he’s starred in have grossed over $100 million.