September 14, 2017 |

The End of One Hit Wonders?

Until around ten years ago, entertainers of all kinds – singers, bands, songwriters, and actors – have burst into the spotlight from nowhere only to fade into relative obscurity after their hit song or popular movie falls out of favor. Such celebrities are only known for a single hit song or movie and struggle to replicate their initial success. Some stars have more staying power, and go on to release successful full albums, or land popular roles in TV shows and movies. Some stars pivot to new specialties, like Selena Gomez who started her career as a Disney actor and has since transformed into a successful singer.

However, new, would-be ‘one hit wonders’ have more opportunities to launch and sustain a successful career in entertainment. More specifically, stars can cultivate sizable social media followings during their 15 minutes of fame to cement their place in the entertainment industry

How Does Social Media Help Guarantee Future Success?

Bloggers and aspiring influencers spend hundreds of hours each year perfecting their craft. They struggle to gain thousands of followers and covet account verification and access to unique insights and features. While most bloggers and influencers have to find unique ways to distinguish themselves from thousands of competitors, new celebrities attract followers through their popular song or movie. It’s much easier for someone with name recognition to gain a following than a relative nobody.

Even when a celebrity’s initial fame starts to wear off, they monetize the hundreds of thousands or even millions of followers they’ve gained. They can work out deals with brands to produce sponsored posts, and drive ticket sales to concerts and movies for their future work by promoting it on their social media accounts. Even if their second album or movie isn’t nearly as good as their first, such a celebrity can drive up sales through successful social media marketing campaigns.

Some celebrities can also use social media to rebrand themselves.  For instance, an actor or actress might decide to become a fitness blogger and can utilize their already sizeable following as leverage for acquiring sponsorship deals or finding modeling opportunities.

There are many ways to launch a career through social media, and more celebrities are becoming pseudo entrepreneurs as they launch their own clothing lines and fitness products as next steps in their career.

How Does This Apply to the Sharing Economy?

As discussed in previous blog posts, building your startup’s social media following can lead to new sales, team members, investors, and business partners. Perhaps a new kind of sharing service will develop – one that aims to promote collaboration among startups and thought leaders on social media.In the true spirit of the sharing economy, perhaps successful platforms and entrepreneurs will lend a helping hand to startups struggling to gain a following on social media. After entrepreneurs who sell their startups exit the company, they might find themselves with a sizable social media following but without a company to promote. A new kind of ‘traveling thought leader’ might emerge.  Such a person would have to have a sizable social media following, and be respected as an authority figure in their industry. This ‘traveling thought leader’ could act as a spokesperson for a startup trying to get off the ground, promoting them on their social media for a set period of months. This would give the former entrepreneur something to do as they plan their next venture, and give deserving startups a boost in their growth.