started from the bottom now he\'s everywhere: the empire-building economics of drake

by:Marslite     2019-09-30
Turn on the radio in Toronto or turn on the playlist and you may hear the latest number from Drake1 hit.
Step on the subway and there is no doubt that you will see the rider wearing a hoodie with his familiar golden owl logo.
Traveling in the city center, you will see a row of people in the chaos, long queues, waiting for a new exclusive outside the flagship location of his costume collection.
No matter how hard you try, you can\'t avoid him.
Drake\'s gravity has only increased in the NBA finals in Toronto\'s Raptors history, where he was found to have an emotional interview with the team\'s success when the opposing players missed the free throw, even when the head coach, nurse Nick, occasionally passed by, he jumped up and down the court happily.
His all-around is not just a fan accident.
When he laughed at each other\'s players in the field seat, it was easy to forget that he was also a business partner --
Probably the first person to explicitly link his brand to a sports team.
This move is one of the many wonderful moves Drake has taken to expand and diversify his portfolio, well beyond album sales and music streams.
With the power of his brand, he has built an empire with multiple sources of income, following others like Jay-
Z, and added some of his own innovations in the process. It’s a Jay-
Mark Mulligan, music analyst at Midia Research, pointed out in describing Drake: \"I am not a businessman, I am a businessman, man.
\"In retrospect, it seems obvious that Drake hinted at the strategy in an interview with GQ 2013, when he set a personal goal of making $0. 25 billion at the age of 29.
He knew that the only way to get there was to expand outside of the music.
\"The rapper is not really rich,\" Drake said at the time, noting that to be a \"super rich,\" you need a person\'s business, and that he has consultants to work on how to achieve that.
Six years later, in his teensactor-turned-hip-hop-musician-turned-
Entrepreneurs are reported to be worth between $0. 14 billion and $0. 15 billion.
Instead of robbing others of their business, he built his own business.
How did he do it.
Mulligan said that if Drake\'s music was no longer relevant, his other business plans would not be so successful, he called it a \"heartbeat \".
Drake broke 54 this year alone-
Former Beatles annual record for the most singlesseven —
At the same time appeared in the top 10 billboards.
His record company says he\'s the first artist to be over 50 years old.
Global traffic reached one billion in 2018.
According to Nielsen Music, Drake is also the most streaming artist in the United States. S.
There were more than 11 in 2018.
There are 12 billion streams in his entire catalogue.
To get the total income of these miscarriages, Mulligan suggested multiplying it by $0. 007. (
Every streaming service, whether it\'s YouTube, Spotify or Apple, gives artists different clips, but Mulligan says it\'s average).
This will bring his music streaming revenue to $77.
2018 89 million.
According to the formula of Mulligan, in this amount, 78 (US$60. 75 million)
I will go and release the Drake album label, \"Young Money Entertainment. \"
Drake\'s rate cut could be $15 million.
Drake will also earn from the remaining 22 percentage points of the original total revenue.
Mulligan said that the top level of management fees was canceled, and the remaining 17 were usually allocated between music publishers and song writers.
This will increase the share of songwriters and Drake will have to share with any colleagues
Author, about $8. 14 million. Drake’s 3.
7 million of digital song sales and 131,000 of physical album sales would be much less profitable, and Mulligan suggested the former pay him 17per-cent rate —
According to the quick calculation, this figure will reach $622,710.
Most of the artist\'s income today is driven by live performances.
Mulligan said that if Drake promised enough wealth, he might get the super wealth he wanted without having to be so diverse.
In the second half of 2018, Drake performed 43 performances throughout North America as part of Aubrie and three Migos tours.
The trip reportedly earned $79 million, but Mulligan said some of the revenue went to booking agencies, ticketing agencies, travel promoters and Migos.
Operating costs such as lighting and sound must also be considered.
Catherine Moore, a part-time professor of music technology at the University of Toronto, said that as a global star, Drake may be paid for the concert by guarantee.
\"Whether there are two people in the seat or they are sold out, he will get the guaranteed amount,\" she said . \".
The rapper may also get additional revenue by reaching an agreement with the concert\'s promoters to reduce merchandise sales at venues and even get a percentage of food and beverage sales, Moore said.
\"Now I\'m on the road and I spend half a billion for a show,\" Drake \"starts at the bottom\" in the 2013 episode \".
With these figures, he can make $21.
5 million live performance on 2018.
Drake will also earn money from the annual outdoor music festival in Toronto, which attracts some of the world\'s top artists --Jay-
Z, Eminem, Kanye West, etc. as headliners.
Drake also performed.
Drake did not host the sopfest in 2018, but has promised to do so in 2019.
Sean Wise says Drake is not the first and will not be the last artist to launch a clothing brand, but the way he does this reflects a broader business strategy, associate Professor of startup and innovation at Ryerson University.
He called Drake a \"master card\"
\"There is integrity and pride everywhere to steal.
\"Drake learned from others what worked, and then he did better and put it up a notch,\" Wise said in an email . \".
On behalf of the October, he nodded to Drake\'s birthday. on 2008, he began to write a blog, operated by his colleagues, and quickly attracted the attention of some fans, they want to keep the new star updated.
In 2011, after working with Canada Goose Holdings
Brand is spinning-
With the increasing influence of Drake stars, the clothing series is growing.
Further cooperation with Roots Ltd. , Nike Inc.
Jordan, a subsidiary, and Toronto Raptors also helped.
Drake\'s departure from the typical path of the celebrity brand is to put his costume collection in the brick. and-
Mortar stores, seven of which are now in Canada, United States of AmericaS. and the U. K.
Tamara Szames, fashion analyst at Groupon, said the success of Groupon can be attributed to how it has succeeded in building a sense of community with consumers and is committed to staying true.
Decision to use bricksand-
The mortar shop allowed Drake to continue this connection.
\"Their position is true, and they haven\'t changed that in the process of brand maturity,\" Szames said . \".
If he allowed the line to be sold at the department store, it would not be possible because the department store did not allow Drake to control the transmission of the brand\'s information.
In his 2011 interview with the magazine Complex, he seemed to be aware of this.
\"Everyone else wants me to do it with cheaper fabrics and put it in Macy\'s, \'Oh, don\'t worry we\'re going to make 100 million in the first year.
No, f-k you, because that\'s not what we are.
I\'m not ready to make the guy like that.
\"Because riot is still what I represent,\" he said . \".
Szames saw the dash and it\'s been rotated-
As a blend of street clothes and luxury goods, it is labeled as a record.
On its website, shoppers can buy hats and T-shirts
$48 shirt and $128 hoodie.
The latest collaboration with DSquared2 by Alexa includes a $998 denim jacket and a T-
Shirts sold for $288.
Vijay Setlur, a marketing professor at York University specializing in sports, is not sure if the Toronto Raptors will pay Drake to serve as a global ambassador, but one thing is for sure: it\'s good for both sides.
To Setlur\'s knowledge, the relationship is the first time, starting in 2013, initially involving Drake, who is already a fan and season ticket holder, as the head of the club\'s brand remodeling.
Since then, the relationship has grown more, says Setlur.
\"You can see how this relationship is from using pop-
Cultural figures inject more relevance and cooperation into the club
\"Brand play permission play, now play sponsored play,\" he said . \".
Drake used the opportunity to connect his brand with the Raptors.
When the club holds Drake\'s night every year, attendees can get a free Kickstarter-branded T-
Shirts and other exclusive items.
These past exclusive revives in the spring, as the pantx Raptors range hoodie and T-
Shirts sold out in a few daysThe co-
Brand attempts became more visible during the playoffs this year as fans twice received shirts that tied the Polo logo to the Raptors logo.
This year, the partnership has also developed into a partnership, including sponsorship.
The raptor training facility, formerly known as the bio-steel center, became the center of the BTS movement.
Of course, the team\'s training jersey now includes the chest owl.
Normally, Drake has to pay for these sponsorship deals.
Sunshine Life Finance Co. , Ltd.
According to TSN, more than $5 million is paid each year to put its logo in the rapper\'s in-game jerseys.
However, Setlur speculated that because the relationship is mutually beneficial, money may not have been exchanged.
Every year Drake has a connection with the team, the Toronto tailor garrison customization company will give him a custom jacket with the team\'s jersey.
The tailor gave Drake a diamond this year.
$747,000 inlaid jacket.
Unlike other areas of his portfolio, Drake does not appear to have implemented any specific strategy in food and beverage investments, said BPR Rusich
A communications agency specializing in high technologyend food.
Rusich, who was hired to promote it when the Toronto Pick 6ix restaurant was first launched in January 2018, said Drake\'s investment in the industry appeared to be a diversity of his history --
Expand the portfolio.
For example, Pick 6ix was originally advertised as what Rusich called a \"premium sports bar \".
\"But when the Hum disappears and the comments are bad, ownership takes advantage of the water damage caused by the flood as an opportunity to transform.
\"The concept itself is great, but I think, maybe at the time of the opening, everything didn\'t come together and they took the opportunity to take a step back and see what was most successful,\" he said.
The new Pick 6ix Sports weight
Opened in March 2019, replacing more luxurious food on the menu with bar food.
Rusich approved the move.
\"I think they have reached gold,\" he said . \".
It\'s hard to say how much Drake earns from Pick 6ix Sports, if any, because most restaurants only make a profit after a few years, says Rusich.
Like Pick 6ix Sports, Drake\'s whisky range, Virginia Black, is available, Rusich says.
Bottles are sold at Ontario liquor stores for $63. 85 —
The average price point of a bottle of bourbon, he said.
Whisky was launched in 2016, selling 60,000 9-
15 months later
$45 is estimated. 9 million.
On January 2018, Drake and his partners announced that they wanted to go public in Virginia Black and wanted to raise $30 million, but the attempt did not seem successful.
Since then, Drake has expanded to champagne with his Mod selection range.
There is no sales data yet, but the retail price of these bottles is between $300 and $400.
In the near future, to see the tourist bus route through a quiet and lush Toronto community, Chestnut Park Real Estate agent James Warren will not be surprised.
After all, Drake\'s house in malerway, Toronto is not complete, but it is already a tourist attraction.
\"He took Beverly Hills to Toronto,\" Warren said . \"“(The house)
It was already iconic even before it was finished.
Drake bought the land at Park 21 for $6.
7 million on 2016, the property was demolished in order to build his new home.
New plan 35,000-square-
The walking home consists of a swimming pool with two bars, basketball court, Jersey Museum and award room nearby.
He also plans to have two saunas, a gym and a piano room at home.
When it\'s done, Warren estimates its value could be between $30 million and $40 million.
Warren describes it as a house with a very architectural design, \"tasteful,\" done in a \"classic style,\" meaning it may not lose value if it appears in the market, even in the coming decades
Drake also owns a mansion in California\'s Hidden Mountains. —
Swimming pool, library, wine cellar, gym, tennis court
It is reported to be worth $8 million.
Drake started his career in television, a young actor in Degrassi: The Next Generation, he may still get the rest of his income from television work.
S. university\'s Catherine Moore says Drake wants a strong connection with his audience from his time as an actor.
\"TV gives you a discipline because you don\'t have a show if you don\'t have an audience,\" she said . \".
Since 2013 Host 2: The Legend Continues, Drake has not won the honor of acting, but his endorsement has made him appear in multiple ads in Sprite and Apple Music.
His 2015 deal with Apple
It is reported to be worth $19 million.
Prior to that, Drake signed a $10 million deal with Nike in 2013.
His other endorsements include deals.
And Virgin America.
Drake hinted that he would support a return to the showbiz, but as a result of his collaboration with HBO\'s \"Xinkuai\" and Netflix\'s \"top boys\", he now seems interested in getting credits from producers
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