The end of the year signals those incessant lists – best movies, best books, best songs, etc. Some are frivolous, others are fascinating, and somehow we tend to read them all.
While lots of this list-making is purely opinion, there are some rank orders that are truly quantitative, containing no subjectivity, bias, or guesswork.
Thus, we already have a pretty good idea of the music stars who have achieved the most financial success this year – those who have raked in the most cash during 2014. Forbes did the calculating, and the results say a lot about the power of music and its ability to generate massive revenue.
And in many ways, the list is predictable. Dr. Dre is the big winner, hauling in $620 million from the sale of his Beats Electronics to that small computer company in Cupertino. But his was a one-time windfall. His revenue generation in 2014 has little to do with selling his own music or attendance from concerts and merchandise.
And that’s why Beyoncé’s second place finish is impressive ($115 million). She’s a true star, who has innovated and marketed herself into a position of financial dominance, from her music, concerts, and endorsement deals. (BTW she nearly doubled Jay-Z’s income of $60 million.)
But perhaps the biggest news is that of the top ten money earners in music, four Classic Rock icons made the list. The Eagles (#3 – $100 million), Bon Jovi (#4 -$82 million), Bruce Springsteen (#5 -$81 million), and Paul McCartney (8 -$71 million) all hit the Top 10.
A few highlights:
- Both The Stones ($47 million) and Roger Waters ($46 million) made the Top 20.
- Taylor Swift is a force, but still not financially on par with some of these others at a paltry $64 million.
- Only one true Country artist – Toby Keith ($65 million) makes the Top 20. (Taylor Swift obviously goes both ways – Pop and Country).
- The Eagles’ $100 million dollar total allowed them to earn more than Lada Gaga, Kanye West, and Miley Cyrus – combined. The brilliant Irving Azoff was at it again.
For these Classic Rockers, it’s important to note that their ability to draw these incredible dollar amounts is based primarily on their touring. Few derive their incomes any more on their new music.
And that speaks to the loyalty these artists engender, the timelessness of the Classic Rock format and its music, and the spending power of the audiences that love these bands and the radio stations that specialize in them.
Many media pundits observe that music formats on broadcast radio are a thing of the past – that fans will continue to gravitate to digital playlist and streaming music services.
But a big part of the Classic Rock experience for fans is sharing these moments with one another, fueled by the radio stations that present the music using curators who matter. Whether it’s The Sound’s (KSWD) “Backstagers” group of carefully selected brand advocates, Andre Gardner’s troops of Beatlemaniacs who respect his knowledge and passion for the Fab Four on Philly’s WMGK, Q104.3’s Jim Kerr’s legion of New York City fans who have woken up with him for four decades, trusted sherpas like Iris Harrison at KGON and Bob Keller serving up the goodies on KSEG’s “Café Rock,” or Nik Carter’s great interviews with Classic Rockers every night on Vh1 Classic’s On Tap show, broadcast radio does the best job of bringing this music to fans in unique, inspiring, and compelling ways.
It’s a key reason why the Classic Rock format endures today, despite Pandora, iPods, satellite radio, and the “demographic cliff.”
And it’s a reason why radio salespeople should be marketing Classic Rock’s amazing audience to its advertisers as more than rankers and CPMs. (Although it is notable that Nielsen’s Top formats of 2014 shows that Classic Rock and Classic Hits combined achieves nearly a 10-share 6+, underscoring the format’s historic strength.)
Decades after their heydays, these Classic Rock artists not only endure, their music is enjoyed by millions that span generations, as they continue to earn mega-millions each and every year.
That’s why they’re legends.
Full disclosure: Some of the DJs, stations, and shows mentioned in this post are clients – and we’re proud to say that.
Jacobs Media has consistently walked the walk in the digital space, providing insights and guidance through its well-read national Techsurveys.
In 2008, jacapps was launched - a mobile apps company that has designed and built more than 1,300 apps for both the Apple and Android platforms. In 2013, the DASH Conference was created - a mashup of radio and automotive, designed to foster better understanding of the "connected car" and its impact.
Along with providing the creative and intellectual direction for the company, Fred consults many of Jacobs Media's commercial and public radio clients, in addition to media brands looking to thrive in the rapidly changing tech environment.
Fred was inducted into the Radio Hall of Fame in 2018.
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