The Proliferation of Winning Partnerships Between Retailers and Multi-Hyphenate CelebritiesSummer 2013 – Articles The Licensing Book
Being a celebrity is not what it used to be. In the old days (bear with me while I think back as far as the 1980s and 1990s), celebrities could depend on revenue from one primary source to sustain a very lucrative career and often lavish lifestyle. A film studio, TV broadcast network, or major record label could each be relied upon to produce a hefty bottom line for top artists. Today, fewer films are being made by the studios, broadcast networks are struggling to hold onto market share that is being taken over by hundreds of cable networks that focus on specific audiences, and the record business we once knew no longer exists, as sales of albums and CDs have been reduced to a fraction of digital downloads of individual songs.
The emergence of myriad new distribution platforms and the rapid growth of various forms of digital entertainment have created a challenging economic climate within the entertainment industry. For many celebrities, a revolution in the way they approach their sources of income and maintain their relevance in a changing marketplace must now be addressed head-on.
As seen in The Licensing Book's Summer issue