Celeb life often looks luxurious, and though many famous people do get to spend a lot of time hitting tropical waters and luxuriating in elaborate and decadent lifestyles, how many celebrities make their money might come as a surprise. Honestly, we wish we could have just a small portion of what some of these stars make, so we could live it up in a penthouse apartment and drive our dream car.
Celebrities especially actors and actresses usually don’t just make money off of their jobs. It’s all about diversifying their portfolio and doing other things by the side.
Here are 3 easy ways celebrities make their money
Celebrity endorsement is a form of advertising campaign or marketing strategy used by brands, companies, or a non-profit organization which involves celebrities or a well-known person using their social status or their fame to help promote a product, service or even raise awareness on environmental or social matters. Celebrity endorsement of a company’s product is effective largely because celebrities have the potential to reach a large number of prospective consumers.
Marketers use celebrity endorsers in hopes that the positive images of the celebrity endorser of the brand will also be passed on to the products or the brand image associated with the celebrities. Celebrity endorsement is usually commonly used by fashion or beauty brands, but a non-profit organization relies on celebrities as well, as celebrities have mass communication skills which can attract people’s attention and is helpful in reaching a wider audience to raise their awareness towards a certain organization or an issue, thus making celebrity’s effective fundraiser
2. Apps and Social Media
Celebrities earn serious money from social media apps especially YouTube videos. YouTube shares 55% of its ad revenue with video creators and books an average of $7.60 per 1,000 ad view. On Average the YouTube channel can receive $18 per 1,000 ad views. This equates to $3 – $5 per 1000 video views. When our celebrities get up to a million view on YouTube, they could expect to earn $3 – $7 per 1,000 views or $3000 – $7000 per 1 million views. This is the reason why most celebrities are now moving their business and drama to YouTube.
This is also called Influencer marketing where people promote other business by posting it on their social media platforms. Having huge social media followers will promote brand and individuals to want to do business with you. Business usually want to promote their brand to the Instagram users who have thousands of followers and offer them to promote their business via featured posts. Basically, celebrities with thousands or millions of followers take advantage of their huge following by posting paid post on their profile on behalf of advertisers to make some sort of extra money.