Ok, so many people ask me why many fees for celebrities seem to be astronomical. There are a number of things that determine the fee a celebrity obtains including schedule, accomplishments, supply and demand, type of event, and more. I would say that supply and demand is one of the more interesting ones. For an act to be getting over six figures to perform at an event, they are either a legendary name or a hot ticket right now, as in selling lots of records, number one hits, on the radio and more. I was once told a very simple but profound statement by a hip hop mogul that you would definitely know if I mentioned his name. What he told me was that if you want a million dollars, ten million, a jet, whatever………….get hot! If you get hot and stay hot, chances are you will check off all your goals. Now granted this is easier said than done. However, what he means in the entertainment industry is, sign the hot act, make a hot record, book a hot star because when you have the “hot” item, you have tremendous power in the marketplace. For example, Lady Gaga is hot right now. She has huge dance hits, best selling singles and albums, is winning awards, and more. As a result of her being hot, she can pretty much ask for whatever she wants and get it. She is not a commodity and if people want her, they will pretty much pay whatever price she demands. The worst position to be in is to be perceived as a commodity. The way this translates into the event and meeting business is to make sure your company is getting hot often and trying to stay hot in the marketplace. You can accomplish this by starting new trends, forming new ideas, hosting a top notch party that everyone talks about, writing great blog posts, designing innovative themes, getting lots of publicity and on and on. So, the question is, what are you doing to get hot????
Here are 2 hot performers you may recognize.
Joshua Gair – Impact Entertainment Services