Forbes magazine put Miley Cyrus’ income at $26-million last year, same as the Jonas Brothers. CEOs and business leaders who worship the information in that magazine may want to consider this; how do you account for the $56-million in concert sales, in addition, a lucrative contract with Walmart during the 2007 Christmas season, CD sales, T-Shirt and poster sales at concerts, Miley World fees (a genius marketing tactic). Also, income from a little TV show called Hannah Montana, publishing rights on the songs she wrote and more.
Mainstream media and $26-million indeed. Yet mainstream media wonder why they’re going out of business.
On one of those sleepless evening, I recently calculated Miley Cyrus’ income and she’s not as rich as you think.
In 2009 she has a concert, a book, a TV show renewal, a movie, a movie soundtrack, a TV soundtrack, an EP exclusive with Walmart, a clothing design with Walmart, another movie due in January, The Last Song, probably a soundtrack from that. Let’s figure she’s on track to make $500,000 per day in 2009.
Yet everything is not rosy in Miley-land. First, there’s the AT LEAST 10 percent commission her agent (Mommy Tish?) gets, bringing her daily revenue down to $450,00. Let’s be conservative and say the government gets half that, leaving poor Miley with $225,000 per day. How will she survive? There’s the private jets to meet with Nick, Mitchel Musso show at the Grove and recording sessions in Nashville where Taylor Swift happens to be in the recording studio on the same day per Twitter. Yet where is a song from that collaboration? Oh, probably on The Last Song soundtrack! Remember you heard that here first.
So poor Miley is only going to make roughly $82-million this year. Hey, not so fast. There are musicians to be paid for that upcoming tour, hotel rooms. So let’s say she ends up with only $40-million this year.
Let’s hope her career has the longevity of The Rolling Stones instead of an American Idiot winner. Oh, her career has lasted longer than any of those already? She’s only 16!
On the other hand, let’s say her career is brief like Michelle Branch, Hilary Duff, Keke Palmer or Ashlee Simpson. For the past three years she’s brought home $40-million. That is a great nest egg for investing. If she bought apartment complexes and office buildings at the height of the depression last year, she’ll be sitting pretty for years to come. Much like her idol, Dolly Parton. Hope Ms. Parton has instructed her on investing – she’s an expert at it.
I rather have the actual $40-million she took home after taxes than the pre-tax $26-million Forbes reported.