This article is the lead post in the last SiliconCaribe Insider weekly newsletter, your guide to who and what is transforming the future of technology and business in the Caribbean. Subscribe to be the first to get it every Tuesday.
Paramount Pictures’ Bob Marley: One Love biopic is a brilliant content marketing strategy that will boost the merchandise sales and publishing catalogue for the Marley Foundation and its investors. It’s a masterclass in timing, the business of leveraging creative work, and the difficult choices of balancing legacy and capitalism. Let’s take a look at the business side of the reggae legend’s posthumous life.
About the film
American film studio Paramount spent $70 million on producing, marketing and distributing the One Love biopic, and as of this writing it has grossed just over $80 million since its Valentine’s Day release on February 14. The number one film in the US this week, the biopic directed by Reinaldo Marcus Green is currently outgrossing 47 international markets on a like-for-like basis, including previews, by 14%. Elvis More than 12% Rocketman It was the second-biggest opening for a music biopic in the category. bohemian rhapsody.
And while online critics offer polarizing reviews and recommendations about who and what should have been in the film, we’re here to talk business.
Let’s start with the list.
Create a list
Forbes List: Wikipedia
The list of the highest-paid dead celebrities of 2023 Forbes Marley ranked ninth, just behind former Beatles frontman John Lennon. The magazine said the Marley Foundation earned $16 million that year. In 2022, Marley isn’t even in the top 13 on Forbes’ list, with musician George Harrison coming in at 13th with $12 million. So what happened that year? But…
In 2018, Marley came in fifth, earning $23 million.
In 2019, Marley came in fifth with $20 million.
In 2020, Marley came in 8th place, earning $14 million.
In 2021, Marley made $16 million, placing him in 11th place.
Over the past five years, US-based private music publishers have Primary WaveThe company, backed by investors including BlackRock, spent more than $50 million in 2018 to acquire 80% of Marley’s publishing catalog. Chris Blackwell’s Founder of Island Records. The company gave them ownership of two publishing catalogs: Marley’s Songs and Blue Mountain Music. Blue Mountain Publishing was launched in 1962 by Island Records founder Chris Blackwell and is the home of Marley’s songs. Bob Marley, U2, Toots and the Maytals, Flea, John Martynothers.
The first wave isFounded in 2006 by Larry Mestel, whose first job in the music industry was with Blackwell’s Island Records, the company is a diversified publishing, management, film & television and marketing company.
The company is one of the largest independent entertainment companies in the United States and, according to its website, holds the copyrights to more than 15,000 songs from the catalogs of many artists, including Smokey Robinson, Kurt Cobain, Steven Tyler, John Lennon, Def Leppard, Hall & Oates, Chicago, Maurice White, Graham Parker, Daniel Johnston, Steven Curtis Chapman, Lamont Dozier, Steve Cropper, CeeLo Green and Larry Smith.According to Variety.
Think about how much money Marley makes each year. Forbes ListThe estate is reported to have made more than $90 million in revenue between 2018 and 2023, the years I looked at. But music has always been an appetizer for generating recognition and familiarity, the perfect lever to pursue other things.
Resonating Rhythms: Expanding Music Sales
There was a renewed interest in Marley’s music. One Love biopicis sure to give a big boost to music sales and streaming numbers. His timeless songs include One Love, Redemption Song, and no woman no cry Other songs featured in the film War, the Exodus, the Three Little Birds, and the Mysteries of Nature The show is sure to be a hit with new audiences and longtime fans alike as they become familiar with Marley’s powerful voice. Message music.
Furthermore, popular songs on movie soundtracks are still popular today. reggae dancehall artists like Shenseea It will generate new fans and a new appreciation for the timeless importance of his message of love, unity, resistance and social consciousness.
This adds to the gold mine that already existed in Marley’s posthumously released music. Legend A compilation album released in 1984. could you be loved and Three Little Birdsis the most successful reggae album of all time, having sold over 15 million copies in the United States and spent over 800 consecutive weeks on the charts. Billboard 200. Its tracks have collectively been played over 4 billion times on Spotify, making it a phenomenal success.
❝
Still, most reports say the bulk of the revenue comes from Marley merchandise, the business empire that his music has built in the decades since his death.
Merchandising Melodies: Capturing Cultural Capital
Without a doubt, Bob Marley’s cultural impact wasAn indelible mark on global pop cultureWith the release of the biographical film “One Love,” Marley-themed merchandiseFrom apparel to accessories, Marley’s music will soar to unprecedented heights. As we all know, in an era when music royalties are almost nonexistent, a significant portion of Marley’s income comes from merchandising. The artist’s popular songs and lyrics are also used as marketing tools to sell products.
You can buy it now Bob Marley-themed t-shirts, coffee, ice cream and body washsustainably sourced, Bob Marley branded audio equipmentIn addition to the line Bob Marley Skateboard DeckCannabis Brands Marley Natural Also, Marley’s name is used in business and Babylon and Marley may have said that at the time.
That said, I think it’s great that they’ve been very selective with their merch collaborations with small, premium, Black-owned businesses lately, and I’m hoping to see some merch reflecting the songs and albums featured in One Love Movie. It’s strategic.
Yet Marley’s business is now controlled by family members.Marley Estate —They have agreements with various merchandising and marketing partners, and all parties share in the profits. According to a Fast Company article, the estate earns royalties due to the commercial clout of Bob Marley’s name, but the exact percentages are not made public.
Marley’s fans spend big money to express their love for the legendary musician and the values he embodied, presenting a perfect opportunity for brands to capitalize on Marley’s enduring legacy while paying tribute to Jamaica’s unique culture.
But not everyone is happy with this.
Criticizing Capitalism: Preserving Marley’s Legacy
We all know that criticizing any aspect of Bob Marley’s legacy can provoke fierce defensive reactions. But while the commercialization of Bob Marley’s name and image has been proclaimed by his estate to be an important way of preserving and spreading his ideals, some have questioned whether the estate is selling out and not allowing his artistic and cultural value to be undermined.
That’s a valid question.
However, in reality Care is expensive And that wealth must be leveraged to keep the lights on and the traditions alive. And this uncompromising business side of being creative may serve as a roadmap for other Jamaican artists.
Still, it’s not an easy line to skunk. Fast Company article This is very well said.
said “While accusations of ‘betrayal’ once posed a serious threat to an artist’s credibility, the insult has become far less impactful in an era when an artist’s survival depends on sponsorship and licensing deals, while a deceased artist’s continuing income is in the hands of others. Still, when a musician as revered as Marley, whose songs were filled with messages of liberation, anti-imperialist and anti-capitalist, becomes so commercialized, it’s worth considering why this has happened and whether it threatens his artistic legacy.”
However, the biopic “One Love” Paramount Pictures and Four Marleys are listed as producersacts not only as a cinematic experience but also as an international marketing vehicle for official branded merchandise.
On the one hand, the fact that people eagerly purchase merchandise bearing Marley’s face and words reflects his continued deep connection with his fans. On the other hand, it is also a sign that Marley, a symbol of postcolonialism and anti-capitalism, is now Branding Collaboration and Private Equity Firms.
❝
Either way, the final decision on what the future of Marley’s Legacy will be will naturally rest with his family.
But in my personal opinion, with warmongers threatening basic human rights all over the world, Marley’s message of peace, anti-imperialist and social justice is more important than ever. I know that the commercialization of Bob Marley’s legacy will continue to stir controversy, but somehow I have confidence that his music will rise above the negativity and continue to serve as a beacon of hope and resistance in an ever-changing world.
His music means so much to all of us.
one love.
P.S.: By the way, my favorite Bob Marley song is “war“
This article is the lead article in the last SiliconCaribe Insider weekly newsletter, your guide to who and what is transforming the future of technology and business in the Caribbean. Subscribe to be the first to get it every Tuesday.
