While it is easy to think of celebrities making a great deal of money for themselves, there are some additional industries related to the news, gossip and other revenue drawn in from celebrity presence. Celebrity news is more often gossip than actual news, but the glamor of the information draws an incredibly large crowd. Additionally, the noticeable presence of a celebrity’s identity makes their connection to groups like non-profits, charities, and brand endorsements provide the potential for significantly increased revenue.
Celebrity News: More than Just Gossip
Because that celebrity news is an industry of its own, or celebrity gossip, there is an incredible amount of revenue to be gained annually. With magazines, television shows, social media, commercials, and much more that include celebrity presence, there are over three billion dollars annually in celebrity-generated income.
While the term for “news” typically indicates something much more researched and factual, there are many pieces of celeb news that are more celebrity gossip than current celebrity news. The critical thing about celebrity news is the image or presentation of the story rather than the actual truth. The size of the celebrity news industry is more about the glitz and glamor of the stories presented than the real effect of the information on society.
The Latest Celebrity: Income Source for Others
One of the most significant portions of celeb news includes celebrity endorsements. Whether they are always direct, their support for causes tends to draw greater involvement of the population between the ages of 18 and 36. While about 27% of this age group will support causes or make purchases based on celebrity presentation, there is usually only about 10% of support gained from the elderly population.
These revenue numbers can be for both non-profits as well as retail or other companies. A celebrity identity added to any brand, especially one that is of the latest entertainment gossip or entertainment news has the potential to draw an incredible increase in revenue when the proper market is addressed.
Celebrity Endorsement of the Retail Brand
We all know the retail brands with the logo that’s been around for decades or the phrase that makes their company name. However, there is much to consider in the celebrity athlete, actor, singer or other entertainer who represents the brand. This is important, as with the latest in celeb news will affect the role this person plays in bringing in company revenue. A Harvard Business School study from 2011 determined that big-name endorsements increase annual company sales by about $10 million, along with about 0.25% stock return increase. However, with the pass of that endorser out of the realm of current celebrity news, there is the potential of these numbers dropping.