In his capacity as a Columnist for California Sports Lawyer®, Founder and Managing Attorney Jeremy Evans has written a column about the growth of celebrity podcasts and content with an opportunity for talent in creating profitable content.
You can read the full column below.
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There is an industry-wide understanding that there are far too many podcasts for all to be profitable. However, celebrity-led podcasts with hosts from actors to athletes have seen tremendous success. Being on a network or having a wide-distribution on streaming platforms also helps create and maintain success.
Amazon’s purchase of the rights to the Travis and Jason Kelce podcast “New Heights” through its subsidiary Wondery for three-years and $100 million dollars will pay the Kansas City Chiefs Pro Bowl tight end and boyfriend of Taylor Swift at least the same amount he is making on the field ($17-18 million assuming an even split between the co-hosts). The athlete as producer and off-the-field talent has only grown in time as talent has learned how to mobilize its social media notoriety and engagement to profit. Financial acumen, investment, and risk-taking have also led to a renaissance in celebrity wealth.
Even the professional sports leagues have gotten further into the investment space by changing their rules on private equity investment to grow dollars in the franchise by increasing the ownership base. Although, for many years, professional sports franchises have hired personnel with financial expertise to turn their profits into further investments through venture capital. Sports leagues and franchises are primely positioned to continue to grow profits especially as Hollywood streamers and studios converge on copyright licensing for sports-based docuseries and reality television surrounding teams and their players.
The Kelce podcast deal speaks of something beyond sports. It highlights the importance of the sale price when pop culture and sports combine. It shows that celebrity status is multiplied with social media, live television, and streaming constantly highlighting actors and athletes.
Celebrity appeal is only amplified when combined with some additional outlet that can be sold. For example, a podcast, radio show, film, or television series. It is also true that on-camera talent is at an all-time peak in terms of payment to former athletes seeking post off-the-field work.
Tom Brady’s multi-million dollar broadcast deal with Fox to announce football games is an example of talent getting paid off-the-field post-playing career. Tony Romo, Deion Sanders, Shannon Sharpe, and many others are prime examples of former athletes getting paid more after their playing days than during. It is clear that fans want more time with their favorite celebrities, not less, and that time has been more unscripted in nature.
Social media, live television broadcasts, streaming, docuseries, and podcasts provide the opportunities to expand the athlete and actor’s portfolio for content. Content is often monetizable depending on the celebrity status and conversely, the popularity, interest, genuineness, and engagement among fans and potential audiences. With more outlets to get noticed, like YouTube, TikTok, X, or Instagram reels, there seems to be a never-ending stream of new content that is only increased in profitability by celebrity status.
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About Jeremy M. Evans:
Jeremy M. Evans is the Chief Entrepreneur Officer, Founder & Managing Attorney at California Sports Lawyer®, representing entertainment, media, and sports clients in contractual, intellectual property, and dealmaking matters. Evans is an award-winning attorney and industry leader based in Los Angeles and Newport Beach, California. He can be reached at Jeremy@CSLlegal.com. www.CSLlegal.com.
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