The tide of public opinion is turning against some very famous figures. While actors were once considered performers with artistic merit, stars like Robert Downey Jr., Ryan Reynolds and Blake Lively are frequently being branded as money-hungry or too transparently concerned with their personal brands.
And an increasing number of fans seem to be turned off by actors who are no longer best-known for their acting. Why actors are becoming brands Actors do not make money as easily as they once did. Two years ago, "Euphoria" star Sydney Sweeney revealed she could not afford to take breaks, and many celebs joined last year's Hollywood strikes to protest how "amid the rise of streaming services," residuals have "significantly diminished," said CNN .
To supplement their income, many celebs sell their own products, which is less of a liability than "attaching one's name to a company that may misbehave or a product that may have quality issues that are out of the actor's control," Olav Sorenson, a chair of entrepreneurial studies at UCLA's Anderson School of Management, said to the Los Angeles Times . Actors like Gwyneth Paltrow (her brand: Goop) and Selena Gomez (Rare Beauty) have become as famous for their lucrative side hustles as they are for the art form that catapulted them to stardom. And the trend is gaining steam.
"Nearly 60% of all celebrity brands" were "founded in the last six years, and more than a third of modern celebrity brands were launched in 2020 or later" said the Ti.