When you think of celebrities, you think of the rich and famous. And, in most cases, celebrities have become huge names because they’re an actor, a sports star, etc., which means they’re going to have made a fair amount of cash already. But how do celebrities keep making money, and how do they become wealthier?
It’s true what they say when you have money, it’s easier to make money. And, when you have status, the same applies. So you can see why being a celebrity makes it incredibly easy to come across money-making opportunities. A perfect example of this is for celebs to endorse reputable gaming operators like PartyCasino, because not only will they be paid handsomely, but it doesn’t take much effort, and it also keeps them relevant by getting their face seen in advertisements.
The above is something a wide range of celebrities have taken on, from Cristiano Ronaldo and Neymar of the footballing world to Drake and Paris Hilton. And it doesn’t necessarily have to be gaming brands because celebs these days are recruited to advertise all sorts on their social media platforms, with some fees paid out well into the millions. It’s the way many recognised people can make money without having to do very much.
But what about celebrities making money without having to do anything at all? Well, it’s possible thanks to work where royalties can be earned, which is another revenue stream rapper Drake can profit from. A great example, however, is the late Lata Mangeshkar. Not only India’s most popular singer but most successful, she earned royalties worth hundreds of thousands of pounds per year.
And while it may seem slightly morbid, royalties and celebrities earning based on the work they’ve already done is one way to guarantee a generational income too. Again, using Mangeshkar as an example, she passed in February 2022, but her estate continues to benefit financially, which also applies to the likes of Michael Jackson, Roald Dahl, David Bowie and many more.
What’s common in society is that there are celebrities and fans, and then what appears to be some sort of divide. And it’s being able to bridge said divide that has become another money maker for the famous because they do want to connect with those who support them, but it’s impossible to do so with everyone. Paid public appearances are becoming a good earner, but what is huge right now is paid personal video messages. Celebs can set their price, and it doesn’t take long to film a quick video clip and upload it.
It may seem obvious, but celebrities use their celebrity status more than anything to make money. And, as time has gone on, it is becoming more popular for the famous to also include their fans in some way, shape or form, such as giving them more access to their life, or by providing a personalised experience, in what is usually a mutually beneficial relationship.
