Attaining the superstar status is not a day’s job. It is a continuous effort put together overtime, which later attracts an audience that ultimately becomes loyal fans. One thing that is very sure is that a loyal fan can spend his last dime to acquire what carries the name of his “idol”, who is the superstar in question. For example, Kanye West’s Yeezy Boost sold out few minutes after they were released. His fans sleep outside just to get their hands on a pair or two whenever he releases a version. In many cases, fights ensue among wannabe owners of Yeezy boosts because they are sold-out in minutes.
Imagine if those shoes were produced or owned by someone who has no name, they would definitely not have the kind of market they have now because those shoes lack beauty, if you ask me. This further shows that customers sometimes buy BRAND NAME rather than quality or beauty. Magic Johnson is another sports star who took advantage of his status to make wealth for himself. Johnson has invested in so many ventures before and after his retirement from the NBA. In 1995, Johnson bought stakes in Loews, a movie theatre, 31 Burger King restaurants and 13 24-Hours Fitness/Magic Johnson Health Clubs. Over the years, this legend has continually invested in many lucrative businesses, including Los Angeles Lakers, T.G.I Fridays’, Sodexo, among others. Johnson is even becoming richer by the day after his retirement since 1996.
On the flip-side, Mike Tyson was worth over $300 million dollars at a point in his career. He lost everything and filed for bankruptcy in 2003.
Documents revealed he was $23 million in debt. Iron Mike, as he was popularly called, was a boxing legend. No doubt about that, but he never looked beyond the ring; he never thought he would one day be out of the celebrity status when his career came to its lowest ebb. I can bet it with you that if Mike Tyson had anything in his name at the time, every boxing lover all over the world would definitely buy or invest their last cent in it. He never took advantage of it. I bet Floyd Mayweather is doing a great job in this regard through his TMT group, although many may not agree with his lifestyle, the dude is sure investing his money.
In Nigeria, it is amazing the number of celebrities who have come and gone unnoticed, especially in the music scene. An average musician career in Nigeria doesn’t go beyond 10 years or at best 15, especially this generation. At their prime, they pull a lot of crowd on stage and off stage. Most of them even get endorsements from big brands like Nigerian Breweries, MTN, Globacom, Airtel, Diamond Bank and others, yet they end up being broke when people stop loving their songs which ultimately make brands to reject them. One thing that is common among them is cars. They invest so much in buying big cars, clubbing and womanising without even investing on any asset of any kind or building a business outside their primary talent. Many have fallen ill and resorted to begging for money for treatment abroad from the same fans many of them snubbed at their prime. I don’t want to begin to mention names because many of you know them. I must give it to 2face idibia, TuBaba, and a few others who have invested outside their music career.
As a celebrity, you don’t need to pump money into advertising like an ordinary man would do to push a brand. Why not put your name to it and let your fans make you rich on a platter. It is that simple! Unfortunately, many celebs realise this very late after they have lost their relevance in the industry. For example, take a look at Dr Dre who became the first musician billionaire just because of his headphone investment which wouldn’t have happened were he not a celebrity. Puff Daddy, 50 Cent, Rick Ross are all taking advantage of their status to push their brands and they are making millions on a daily basis while asleep.
Finally, one thing that is sure is that you will not be popular forever, so when you are out of the scene, what will you be remembered for, or how will you continue to live the lifestyle that you have started if you don’t have investments? Some Nigerian musicians that were huge few years ago like PaulPlay, Sonny Neji, Alariwo, Idris Abdukareem, Tony Tetuila, Styleplus and others are gone and most of them don’t have tangible investments.
As a celebrity, you don’t need to build your own brand from thev scratch to attract the necessary attraction. You can buy stakes just like Magic Johnson, Diddy, 50Cent, Ross etc, because fans will patronise your name and not the brand in the real sense. So if you are popular today, just go and put your name to a brand just like Kanye West put his name to those ugly boots and fans are falling over them like ants.