For the second consecutive year, Jay-Z and wife Beyoncé dominated Forbes magazine’s top-earners list for musicians for the time period between June 2009 and June 2010.
By now, many music fans, as well as the couple’s peers, are wondering the secret behind not only their legendary hip-hop and R&B careers, respectively, but also the source behind their financial windfalls.
First of all, Jigga and Bey Bey have very palatable images; white Americans as well as the communities from which they emanate embrace them. Both have long since transcended their respective genres, which makes them very attractive candidates to Madison Avenue advertisers looking for adored icons to peddle corporate products to consumers.
Astute Businesspeople: Michael Jackson, once known as an extremely astute, if not ruthless, businessman during the pinnacle of his career, may have provided the benchmark for musicians to follow suit. But hip-hop heads and pop stars like Jay and Bey have accomplished things in the boardroom that the King of Pop could not have even fathomed. Owning the Beatles catalog? A stroke of brilliance by Mike. But owning sports franchises and working with local governments to build colossal stadiums? Not even Mike could have dreamed it was possible. More than that, Mr. Carter just knows how to put on a show. His latest tour has grossed an impressive $1 million per city, accounting for a large portion of his $63 million last year, good for sixth place.
Excellent Brand Managers: Bey and Jay are excellent custodians of their brands, meticulously cultivating it through partnerships that helped their brands grow exponentially without risking overexposure (though some may argue that Beyoncé nearly crossed that line). More than half of Bey Bey’s $87 million in earnings the past year (good for third place on the Forbes list) is attributed to endorsements, ranging from Ninendo and L’Oreal to her own growing fashion line.
Indefatigable: these two, especially Beyoncé, are relentlessly single-minded in their pursuit to the best. Beyoncé has put together an incredible string of 13 consecutive years with at least one hit songs. She is touring nonstop, and she practically sheds her skin every time she takes the stage. As much as anything, including her beauty, her voice, and her “songwriting” prowess, being bootylicious and pumping out hit after hit, Beyoncé works as hard as anyone in the business.
Free of brand-eroding scandals: Thus far, neither has suffered the type of career-crashing scandal that shattered the career of Chris Brown.
–terry shropshire
