Months-long
tours and endorsement deals with companies such as Sprite and Hennessy enabled
the highest-earning hip-hop artists on our annual list to bring in an average
$44 million over the past year. Some of them also have acquired lucrative
equity stakes, including Nas, 44, who makes the list for the first time a
quarter-century after releasing his debut album. A few years back, Nas kindled
a friendship with venture capitalist Ben Horowitz at a dinner party and has
since snagged stakes in Silicon Valley darlings (Lyft, Coinbase) and online
media (Genius, Mass Appeal).
His interest in these startups is
only natural, he says. "[Hip-hop
artists] are always advancing technology—from one turntable to two turntables
and a fader." He has already enjoyed some exits, including the reported
$1.1 billion sale of doorbell startup Ring to Amazon in February. "There wasn't
a time when [rappers] didn't think about investing. It just so happens that the
world is opening up."
Nas pulled in a career best $35
million in all, but that's only good for No. 6 on the list—this year's king of
hip-hop cash is his former rival, Jay-Z, who returns to the top spot with a
staggering $76.5 million haul. The multifaceted mogul hit the road in
support of his album 4:44 after welcoming twins with wife,
Beyoncé, in 2017. This year he's kicking it up a notch with the launch of Everything Is Love, the
couple's first joint album, and a stadium tour, On The Run II.
After topping
our list three years in a row, Diddy slips to the second spot with $64 million
but still makes bank thanks largely to a beverage empire that includes Ciroc
vodka, DeLeón tequila and Aquahydrate alkaline water. Kendrick Lamar rounds out
the top three with a career-best $58 million tally while packing arenas from
Los Angeles to London on his solo tour and as headliner of TDE: The
Championship Tour. He's also been cashing in on deals with Nike and American
Express. "Any kind of business outside of art and culture and
hip-hop, I have to have full creative control," he told Forbes last year. "And
having that control, I always wanted to have something that represents more
than just a price tag."
These heady earnings totals
shouldn't come as a surprise: Hip-hop is now the most-consumed genre in
America, and its artists are cashing in accordingly. The 10 highest-paid rap
stars earned well over $400 million, easily besting the most prolific
moneymakers in country ($304.5 million) and EDM ($260 million). And the genre
boasts a deep bench, with the top 20 all earning $15 million or more.
Our list tracks pretax annual
income from touring, record sales, streaming, publishing, merchandise sales,
endorsements and other business ventures. Management, agent and attorney fees
are not deducted. Earnings are calculated from June 2017 to June 2018 and are
based on data from Nielsen SoundScan, Pollstar, Songkick, Bandsintown, the RIAA
and interviews with managers, lawyers, executives and many of the artists
themselves.
Some of hip-hop's biggest names
can be found further down on the list. Drake (No. 4, $47 million) is the
world's most consumed musician, with some 5 billion streams in the past 12
months, but he slowed down his touring pace and fell from last year’s list No.
2 finish. Dr. Dre (No. 6, $35 million, tie) is still collecting compensation
from his landmark Apple deal—along with income from his extensive back catalog,
enough to keep him high on our list. DJ Khaled (No. 11, $27 million) had
another banner year, thanks to his usual musical output and touring as
well as deals with Apple, Ciroc and Weight Watchers.
"You can want a Hyundai, if
that's what you want,” he told Forbes in 2017. “Me, I want a
Rolls-Royce."
Though Nas made his debut
as a cash king well into his career, the list is packed with newcomers old
enough to be his children. Other fresh faces include Astroworld rapper Travis
Scott (No. 14, $21m), streaming sensation Lil Uzi Vert (No. 17, $19.5m), gaming
enthusiast Logic (No. 19, $17m), DIY multihyphenate Russ
and newly-liberated Meek Mill (tied
at No. 20, $15m)--aside from the latter, all well under age 30.
The list may be diverse in
terms of age, but hip-hop still has a woeful void of women among the ranks of
its top earners. Moneymaking mainstay Nicki Minaj missed the cut this yea—she
didn't tour, and her new album, Queen,
came out after the end of our June-to-June scoring period. But a
successful return to the road should put her back in the running, along with
new superstar rival Cardi B.
If Jay-Z and Nas can patch up
their differences after one of the more notorious feuds in hip-hop history,
perhaps Cardi and Nicki can do the same en route to next year's edition of this
list.
"I've never been afraid to
walk into the boys' club," Minaj once told a Forbes contributor.
"Ever. Ever,
ever, ever."
Source: FORBES
No comments:
Post a Comment