I don´t know if this is just me....but I always assumed as soon as someone achieved a certain celebrity status on t.v., that their net worth would increase accordingly and promptly.
But the more I read about the net worth of several reality tv show stars, I see that that is often NOT the case. Many many reality stars who have spent years churning out popular episodes are reported as having net worths of less than one million dollars.
Now, let´s just put net worth into the perspective of a ¨Toronto¨ homeowner. The average house as per Zolo ( as of Dec 1, 2023) in Toronto is worth $1,077,531. in canadian funds. That means if you own an average home in Toronto and have no mortgage on it....you are technically a millionaire. You have a net worth of at least 1 million dollars.
But if we look at, let´s say just for an example, ¨Sue Aiken¨ from the popular northern survival show
¨Life Below Zero¨ reality series,....Sue is reported by (https://briefly.co.za/97983-sue-aikens-net-worth-salary-husband-divorce-children-career.html) as having a net worth of only $500,000. Now, that is probably in US dollars, so that would be higher if translated into Canadian funds. But still, it would still put her net worth under a million dollars.
But if you look at how many views her episodes have garnered over the years and how recognizeable Sue Aikens is.....you begin to see a disconnect. The shocking truth is that celebrity and fame does not equal instant wealth. You can be popular and well known and still have a net worth of less than a million dollars.
Now, you may be correct by saying, that websites that pretend to estimate a celebrity´s net worth are just guessing....and have little factual support. Yes, you may be correct.
But try a little exercise today....what is your favourite reality series? Is it ¨Selling Sunset¨? Is it
¨Life Below Zero¨ or ¨Extreme Cheapskates¨? Try typing your favourite actor on one of these shows into your favourite search engine and add the words ¨Net worth¨ and you will be sure to be surprised. Some of the most glamourous tv personalities with very fancy tv wardrobes may have a lower net worth than you do!
So, my blab fest is done. My point is made. TV fame does not equal wealth. Perhaps the net works do not offer good compensation to many celebrities for their participation. Or is it perhaps that many actors or actresses do not know how to negotiate better deals for themselves when it comes to reality tv episodes?
Good business people learn how to leverage their celebrity into several income streams, with licensing deals and merch. They develop the ability to monetize their images into cash machines.
It does bear repeating that fame does not necessarily guarantee a good sense for business.
So, in summary, if you have had the good fortune of garnering some fame, take the time to learn how to monetize that stardom. Write a book..... produce a line of goods that takes advantage of your perceived area of expertise. Go on podcasts and promote your merch. Become a promoter of a brand you can partner with. Be sure to get good agents and lawyers who will help you maximize the earning power of your fame and help you negotiate the best dollar deals for your next TV appearance. Be a good brand ambassador!
The networks make billions of dollars from the backs of eager reality tv stars. Think they all have the right to prosper? Sure they do.
Peace out,
Carla.
