How do people get famous (aka the economics of stardom)?

People ask me all the time, “how do I get famous?” or “how did they get so famous?” or “what have they got, that I don’t got?”

Professor Andrew Leonard from USC Annenberg explains it best when he summarizes the research of Sherwin Rosen and his theory on, “The Economics of Superstars.” Andrew unpacks the theory and research and how in the world of stardom, wealth tends to centralize with a few superstars for two main reasons:

• Imperfect substitutes: Excellent quality is not replaced by lots of good quality options. Consumers tend to make the “safe bet” and to “go with the crowd.” The top stars don’t need to be a 10 out of 10, they can be an 8 or 9 out of 10 and with all the other front runners at being a 6 or 7 - who’s going to watch or listen to them? Look at the field of music or acting and when we look at the top stars and the people struggling to make it, there’s a fairly small margin of difference in terms of skill.

• Zero marginal cost: With today’s creator economy, influencers growing their reach is done at zero marginal cost. The cost of your art being seen by one viewer is the same as one million viewers. This goes for all forms of art that are available in digital form.

Rosen’s theory on The Economics of Superstars, explains why a small number of people in certain fields, such as sports, entertainment, and business, earn a disproportionately large share of the total income in those fields. The theory was first proposed by Sherwin Rosen in his 1981 paper "The Economics of Superstars."

Rosen argued that there are two main reasons why superstars earn so much more than other people in their field. First, the demand for superstars is highly inelastic. This means that even if the price of a superstar's product or service goes up, people are still willing to pay for it. This is because superstars are unique and cannot be easily replaced. For example, there is only one Michael Jordan or one Beyoncé.

Second, the cost of producing a superstar's product or service is relatively low. This is because superstars can reach a large audience through mass media, such as television, radio, and the internet. For example, a superstar athlete can play in front of millions of people in a single game.

The combination of inelastic demand and low production costs means that superstars can earn a lot of money. In fact, Rosen argued that the income of superstars can be "supernormal" in the sense that it exceeds the amount that would be necessary to attract them into the field.

The economics of superstars has been used to explain the high salaries of athletes, entertainers, and business executives. It has also been used to explain the growing gap between the rich and the poor. See our pending article on why A.I. will not replace true art (coming in October 2023).

What is Internet Famous?

An internet famous person, also known as an internet celebrity, is someone who has gained a large following on social media or other online platforms. They may be known for their blogs, vlogs, videos, photos, or other content. Internet famous people can be anyone, from ordinary people with a passion for sharing their lives online to celebrities who have built a following on social media.

There are many different ways to become internet famous. Some people become famous by accident, when a video or photo of them goes viral. Others become famous by creating high-quality content that people enjoy watching or reading. And still others become famous by building a strong online presence and interacting with their followers.

No matter how they become famous, internet famous people have a lot of influence over their followers. They can use their platform to raise awareness about important issues, promote products and services, or simply entertain their fans.

Internet fame can be a great way to connect with people from all over the world and share your passion with others. However, it's important to remember that internet fame is not always easy. Internet famous people often face criticism and scrutiny from the public. They may also have to deal with privacy concerns and the pressure to constantly create new content.

If you're thinking about becoming internet famous, it's important to weigh the pros and cons carefully. If you're passionate about sharing your life online and you're prepared to deal with the challenges that come with fame, then internet fame could be a great way to connect with others and make a difference in the world.

Here are some examples of internet famous people:

• Charlie D’Amelio: Best known for TikTok, with over 125 million followers (the most-followed person on TikTok) and part of Hulu reality series The D'Amelio Show.

• Mr. Beast: aka Jimmy Donaldson is a YouTuber, philanthropist, and entrepreneur - known for his expensive stunts and challenges, as well as his philanthropy.

• Paris Hilton: socialite, entrepreneur and considered one of the first influencers. She has over 19 million followers on Instagram and over 10 million followers on Twitter.

• Kim Kardashian: An American reality TV star who is known for her social media presence and fashion line.

• Shane Dawson: A YouTuber who is known for his comedy sketches, music videos, and vlogs.

• PewDiePie: A Swedish YouTuber who is known for his gaming videos.

• Logan Paul: An American YouTuber who is known for his vlogs and prank videos.

• Jeffree Star: A beauty YouTuber who is known for his makeup tutorials and cosmetics line.

These are just a few examples of the many different types of internet famous people. There are internet famous people for just about everything, from gaming to beauty to fashion. If you have a passion for something, there's a good chance you can find an audience online.