Whether you’re reading about your favorite celebrity’s latest crush, looking for paparazzi photos or looking for the scoop on a private party, people love reading celebrity gossip. In fact, the combined revenue for the celebrity gossip industry tops more than $3 billion per year.
There’s no denying that celebrities and all that they do can influence the lives of many people. A 2011 Harvard Business School Study found that a big-name endorser increases a company’s sale by $10 million annually and leads to a .25 percent increase in stock returns. Additionally, celebrity-induced support for causes tends to be higher among 18-36 year-olds (about 27 percent) than older Americans. Only 10 percent of those aged 68 or older claim to support a cause because of a celebrity.
Black entertainment news has proven popular as well. On television alone, black entertainment news reaches millions of people. Black Entertain Television (BET) is viewed in more than 90 million homes worldwide. In 2010, it was the most prominent television network targeting young black American audiences and was the leading provider of black American cultural and entertainment based programming.
Additionally, The Oprah Winfrey Show aired from 1986-2011 and had an audience of 10 million people with placement on 120 channels.
In addition to television, many black entertainers are dedicated to their respective crafts and have become very successful. These include:
- Floyd Mayweather: he was the highest celebrity earner in 2014-15 with an annual income of $300 million.
- Beyonce: she has an estimated net worth of $450 million as one of the most successful artists in the world.
- Denzel Washington: he has two Oscars and became the second black actor to win one after Sidney Poitier won one in 1963.
- Will Smith: his films have grossed more than $100 million.
- Jay Z: in addition to his combined net work with his wife Beyonce, he has the record for the most number one albums by a solo artist. His album, The Blueprint 3 gave Jay Z his 11th No. 1 album on the Billboard 200, allowing him to beat out Elvis for the No. 1 albums mark.
- Tyra Banks: she was the first African American to be featured on the covers of GQ, the Sports Illustrated Swimsuit Issue and the Victoria’s Secret lingerie catalog.
Entertainers like Beyonce and Jay Z have helped increase the popularity of hip-hop music and the visibility of the hip-hip demographic. The hip-hop demographic has annual spending power of $500 billion and as of July 2011, hip-hop received the most likes on Facebook from U.S. college students than any other genre. Nearly seven million Americans attended RandB, rap or hip concerts within a year prior to spring 2008.
No matter the demographic, celebrity or subject matter, people are always looking for the latest entertainment news. TMZ, one of the most popular entertainment news mediums, has had more than 49 million visitors online in the last six months alone. Black entertainment news remains very popular and Bossip, Essence and Ebony are three of the more popular sites for the latest in black entertainment news.