This archive report was first published on 6 September 2019.
For years, female artists in the music industry struggled to make ends meet, with many filing for bankruptcy or going broke soon after achieving success. However, recent trends suggest that modern female stars are learning to invest in their brand image by diversifying their income streams.
One notable example is Rihanna, who has become the richest female musician of this generation. Since entering the music scene in 2005, Rihanna has sold over Sh22.3 billion ($215 million) worth of digital tracks and Sh6.2 billion ($60 million) in albums. Her last album, Anti, released in 2016, earned her over Sh2 billion ($20 million) from streaming, sales, and recording royalties.
Beyond music, Rihanna has successfully branched out into fashion entrepreneurship with her Luxury brand Fenty and a range of fragrances. She has also designed collections for Armani and River Island, Puma, and worked with Gucci, Dior, and Cover girl. In 2017, Fenty Beauty sold Sh10.3 billion ($100 million) in six weeks and grossed Sh59.2 billion ($570 million) in revenue.
Other female celebrities, such as Beyoncé and Ariana Grande, have also diversified their income streams through various side hustles. Beyoncé has made most of her money from music, but has also dabbled in acting, including a documentary dubbed Homecoming and a lead role in Lion King. She has also invested in Uber and sold her shares for $300 million when the company went public.
Ariana Grande has lucrative ventures from her music and acting, where she has sold more than two million albums in the United States alone. She has also earned about Sh4.1 billion ($40 million) in single downloads alone over the years. Additionally, she has had a stint in fashion through designing and long-running endorsements with brands such as Reebok and other luxury brands.
