How is the Value of a Commercial Creative Artist Measured?

Every year, Forbes publishes a list of the world’s most powerful celebrities. To generate the list, Forbes estimates celebrity earnings (earned solely from entertainment-related income), then factors in media metrics like Google hits, press mentions as compiled by Factiva, TV/radio mentions from Lexis/Nexis and the number of times an A-lister appears on the cover of more than 50 consumer magazines.

So, you might wondering what this has got to do with you, a Commercial Creative Artist (CCA) who may not necessarily be in the same celebrity league as an Angelina Jolie, Brad Pitt or Oprah Winfrey.

The fact is, the majority of the people are responsible for the commercial success of a CCA (paying audience, clients, potential clients, agents, sponsors, media etc) will also judge you based on similar criteria, just not with the same level of expectation.

If you are perceived as successful, it is assumed that you must be doing something right in your field. This, in turns, adds to your credibility and commericial value.

The problem is, as creative artists, we often live in our own imaginative ideological world of fantasy. But, as I discussed in “Who does the Commericial Creative Artist have to Satistfy?”, CCAs cannot survive if they are only concerned with satisfying themselves or their fans. The benchmarks of success for a CCA can neither be purely idealistic or based on your personal likes. Being a CCA means you are governed by the forces of the marketplace and societal standards of what is considered commercially successful and what is not.

So, bearing in mind how the value of a celebrity is measured can help you plan how you can achieve similar milestones as a CCA. Now, the milestones set out by Forbes may not be practically attainable by most CCA’s, especially new ones in their careers. So, below are four realistic milestones, in order, that CCAs can confidently work towards.

1) Referrals & Testimonials

Build up your collection of testimonials and showcase the best and/ or most recent testimonials. Request clients if they can be your referrals or would be willing to make referrals for y0u. Referrals are your cheapest, yet most effective, form of marketing. The more referrals = more bookings and opportunities to showcase your craft. The higher the quality of your referrals will also mean that the projects you get will be of  higher value.

2) Proven Track Record

The more projects you take on, the more you can add to your portfolio. But, do not just constantly take on the same type of projects over and over again. Add diversity to your track record by taking on all types of projects where you can creatively apply your craft to. Having a diverse proven track record will showcase your value to many different markets and audiences which gives you potential to scale your business. The more markets you appeal to, the higher your commerical value will be.

3) Media Features

This may seem easier said than done… because it is. If you do not know how to secure PR for yourself, learn or find someone who knows how to. This article is not the place to discuss PR & media publicity techniques; but, the point is, media feature gives you credibility and is an important milestone for the CCA.

4) Fees Commanded

When you have worked on the preceding 3 milestones, you can work on the fee you command. The higher the fee you can command, the more perceived value you have. High value clients will use your fee as a benchmark of your value.

The great thing about the creative arts is that there is no such thing as a market price for your fee. Your fee is not determined by time, size, or scale of your work alone.  Your fee is based on the value you bring to your clients. You can charge whatever you want as long as people are willing to pay that fee on a consistent basis. A singer in a lounge may command $100 an hour but Britney Spears can command $1 million for the same hour. Both may do exactly the same thing and even sing the exact same songs but it is the artist who brings more value to a client that will be able to command a much higher fee.

The above are only the commercial milestones for the CCA. It is a given that you should have a separate set of artistic milestones that ensue you continually push yourself to improve and reinvent your craft on an artistic level.

In addtion, while achieving all four commerical milestones is not a 100% guarantee that you will be a very successful CCA, all CCAs who have achieved considerable success would have achieved all four milestones and would still be continually re-achieving them as their career develops. So don’t pick and choose, just do it!

About J C Sum

International Headline Entertainer, Content Creator and Investor
This entry was posted in Commercial Creative Artist and tagged , , , , , . Bookmark the permalink.

8 Responses to How is the Value of a Commercial Creative Artist Measured?

  1. MysteryM says:

    That’s actually quite true what you are saying. “A singer in a lounge may command $100 an hour but Britney Spears can command $1 million for the same hour”. It all boils down to the image and brand aka value that you project to people that makes them want to pay you $100 or $1 million. Very true.

  2. Amazzo says:

    sounds like it is very hard to be a successful CCA. like alot of things to think and need to do. :S there is no shortcut right?

  3. Mugger86 says:

    Another useful article man. More food for thought and this time on the Value of a Commercial Creative Artist and how it is measured. I belief though you listed 4 milestones, I dont think its limited to that only. There may be other factors that you may have not listed cause I think you may have wanted to only list the major ones.

  4. Ryu2009 says:

    wah. interesting entry about being an artist. this must have come from your working experience as a magician for so long. something only learned from experience.

  5. ZY90 says:

    hm.. so may things to do ah. how you learned this 4 milestones yourself? from a book or through your years of performing. do you have any advice for the young magicians who want to pursue magic as a career? like, what should they be doing first.

  6. Aaron says:

    wow.. i bet u must be listed too.. which means u’ve achieved the milestones. that’s really incredible!

  7. Will says:

    it seems like a really hard list to fulfil. i wonder how many people can actually do that.. it’s probably a long long way from where i am right now.. 😦

  8. Pingback: Art is Subjective, Publicity & Gigs are Not! « BACKSTAGE BUSINESS: The Art, Science & Business of Showbiz by J C Sum

Leave a Reply

Fill in your details below or click an icon to log in: Logo

You are commenting using your account. Log Out / Change )

Twitter picture

You are commenting using your Twitter account. Log Out / Change )

Facebook photo

You are commenting using your Facebook account. Log Out / Change )

Google+ photo

You are commenting using your Google+ account. Log Out / Change )

Connecting to %s