The Celebrity Endorsement Market Is White Hot!
In the last week my firm solidified deals for a fitness manufacturer, a trade organization, a consumer product in a DRTV campaign, and a diet-tea brand for different celebrities. That is 1/20th of the deals that are rolling around in my office this week.
Between CelebExperts and PMGSports, we have 100+ deals on the board that we are working on closing and fast! I am projecting a record year across all of my businesses and I don’t see the thirst for celebrity engagement drying up anytime soon. I keep pinching myself saying that this has to be driven by something, but what?
My take is the following:
- The U.S. economy is white hot. Unemployment is at 5% we have created 200,000+ jobs in several consecutive quarters, interest rates are still low so business can borrow to expand, and output by employees seems to be at a record high.
- Corporate America’s earnings are incredibly strong. Companies that were devastated from the 2007-2008 crash shed employees and re-defined themselves for the long-term. This re-organization of companies from being slow-moving, top-heavy, over-employed ships have now been carved into nimble, fast-moving power boats.
- Reality TV has created a windfall in profits for TV producers and on-air channels. Duck Dynasty, Keeping Up With the Kardashians, and others have spun off huge empires in celebrity endorsements, and licensing and brand development that has created a huge vacuum for others to be pulled into.
- Crowdfunding! Crowdfunding allows small emerging businesses to query the public on products they might like and gives them their own version of Shark Tank! Speaking of Shark Tank, this show and its cast of rich judges from Mark Cuban, Kevin O’Leary, Daymond John and Laurie Greiner, have given micro businesses, entrepreneurs, and dreamers the opportunity and platform for Americans to support and buy products that might never been found by companies in the past.
- Social Media Shout-Outs have become the gas that fuels the engine! Whether you are a start-up or a Fortune 100 company you now can aggregate a large audience to build brand/product awareness but utilizing very specific category influencers. Never in the history of brand communications has so many everyday people with large follower bases such as Mommy bloggers or Fitness influencers been utilized to influence consumers to try, test and/or buy a product. It is this type of peer-to-peer engagement via social media shout-outs that has changed consumer habits and therefore brand habits. Here is an blog I wrote about Celebrity Shout outs: https://www.linkedin.com/pulse/demystifying-celebrity-shout-outs-evan-blake-morgenstein
Celebrities are EVERYWHERE! And for you or your brand’s money, times couldn’t be better to put your toe in the Celebrity spokesperson water or dive right in! Either way, if you don’’t, that sound you are hearing is your competitor leaving you in the dust!
About CelebExperts: CelebExperts was created by industry veteran Evan Morgenstein who has a diverse background in Talent representation, brand activation, sponsorship procurement, celebrity acquisition, celebrity endorsement costs, and other areas of expertise revolving around the utilization of and achieving the greatest impact from Celebrity.
The vision is simple: demystify the celebrity acquisition process and find creative solutions to effectively market your brand leveraging the power of celebrity. For more information please contact us at firstname.lastname@example.org .