The Mariah Carey Business Model: Why Mimi Is Going To Be Just Fine
Along with chatter that began about Mariah Carey and Nick Cannon’s separation months ago, came rumors about Mariah’s financial stability and suggestions that the songbird would struggle financially after the split. Cannon’s career is taking off and he’s got a number of gigs that are producing sizable pay checks. Mimi, however, has experienced multiple album flops in a row and after struggling to perform back in December, many questioned whether the superstar diva still has the pipes to continue in the music industry.
From what is being reported about Mariah’s business sense, however, the mother-of-two is going to be just fine. As Bloomberg Business confirms, where Carey really has other singers and performers beat is that she not only performs her songs, but wrote the majority of her hits. This combination results in additional revenue.
Clyde Rolston, professor of music and business at Belmont University, explained the benefits of being the singer and songwriter of hit tracks to Bloomberg, stating, “If you’re just the artist, you live off record sales, but as a songwriter she’s paid every time her song is played on the radio or streamed online. That makes a huge difference in long-term financial success.”
Although Carey has not written any hit tracks of late, “with Nineties nostalgia kicking in, Carey’s music is streamed on Spotify twice as often as Madonna’s.”
There’s certainly more to Carey’s strategy than being a songwriter, however. What is it that allows her to continue to wear the superstar status even after poor sales and shaky performances? She says “yes” to gigs which have nothing to do with her own new music. This keeps her relevant and in the spotlight. Bloomberg highlights the “yes” gigs that have resulted in substantial payouts for Mariah.
“A few months on American Idol netted her $18 million. Her Elizabeth Arden fragrances have made more than $150 million in revenue since 2007. She’s still hawking her HSN line, and she’s also got a new soft drink. Carey’s most profitable partnership remains the one she has with Santa Claus—she gets a windfall of royalties every Christmas when All I Want for Christmas Is You is played ad nauseam.”
As Headline Planet reports, Mariah Carey’s “Infinity”, a single which will be added to the diva’s 1 to Infinity greatest hits album, is ready for airplay April 27. The single will be played on both adult contemporary and pop music stations and will hopefully be the perfect addition to Carey’s album.
[Feature image via Celebrity Networth]
