The general public requires entertainment. This is undeniably true and factual. It requires entertainment on a daily basis, especially as work becomes more difficult and people’s lives become more difficult, harried, and stressful as they fight for survival. This entertainment is provided by entertainers such as singers, musicians, movie stars, and sports superheroes. Fans and followers of sports and other forms of entertainment, on the other hand, are becoming more demanding and sophisticated in their entertainment needs. Stars who can command their fans’ loyalty and following will command higher fees than entertainers who are unable to pull in the numbers.
It is an unavoidable fact that the market determines how much a product is worth. Employers will pay more to entertainers who have superior skills or talents.
Consider the case of Michael Jordan, the famous basketball legend. He was not only a good shooter but also a multi-talented individual. He was also a captivating performer. In many instances, his presence on the court ensured the success of the team for which he played. This was the reason for the Chicago Bulls NBA Championship success. Jordan possessed not only a rare sporting talent but also a respectable public image. By his mere presence, he not only ensured a large following in America, but he also had legions of fans abroad. The NBA game was televised in a number of countries. Jordan’s image as a famous sports figure could be used to market a variety of consumer products. Jordan made significant profits for his management despite commanding high fees for his match appearances. Despite the fact that he was paid excessively (in the opinion of some critics), he ensured the prosperity of his backers.
The same could be said of David Beckham, the famous Manchester United Club footballer who later moved to Real Madrid. To renew his contract, he had to be paid millions of pounds. Beckham, on the other hand, ensured revenue for his club and drew hordes of screaming fans with his famous bending kick. In Japan, he is the most recognizable figure on consumer advertisements, and people are even willing to pay to sleep in the rooms he most recently occupied in the hotels where he stayed.
As a result, agents use fan bases and skills to justify the fees they pay to famous athletes. Some can be leading sports figures in their respective countries, but only a few can be considered sports heroes. The same arguments can be used to justify the exorbitant salaries paid to public entertainers such as famous musicians, film stars, and singers.
Madonna, the pop singer, has sold millions of records around the world. When it comes to acting, she does not fare so well. Her fees as a singer are significantly higher than her fees as an actress. When the famous tenor Pavarotti and his fellow singers like Dominigo tour the world, they can command sell-out performances. As a result, their concerts can command high ticket prices, and fans are willing to stand in line and pay for these tickets. Some cast members of ‘Friends,’ the popular American sitcom that is syndicated worldwide, were paid five-figure sums per episode.
The sums paid to these celebrities have been criticized as being uncomfortably high. Excessive compensation for these stars raises the costs of their performance. Even some football stars, such as David Beckham, admit to being overpaid. Leonardo Di Caprio’s salary increased after the film ‘Titanic,’ which he starred in, became a cult classic. As a result, the average moviegoer may have to pay exorbitant ticket prices to see their performance. Producers may think twice about hiring such stars who demand superstar salaries, and their performances may suffer as a result, according to the public.
Again, the sums paid to these people appear astronomical when compared to the pitiful wages of the world’s poor workers. A superstar’s performance one night could be a lifetime income for the poor. “Where is the fairness?” critics will ask in response to these exorbitant fees.
Some events, such as television shows and sporting events, may be canceled if superstars do not receive the fees they demand. However, I am pleased that steps have been taken to mitigate the growing trend of raising star performers’ fees in order to obtain their services. The recent global recession has also resulted in lower fees. In my opinion, superstars should be paid more, but not at the exorbitant rates they are currently paying.
