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Discuss this article (2 Comments)Billion dollar baby
by This email address is being protected from spam bots, you need Javascript enabled to view it on Sunday, 17 May 2009
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She’s the tiniest tycoon out there and well on her way to becoming the biggest brand on the planet. Welcome to the fast-talking world of Miley Cyrus; the teenage TV, movie and pop star all rolled into one $1bn franchise.
The name might be new to you, but Miley Cyrus — aka Miley Steward, aka Hannah Montana — is the latest pre-teen sensation to emerge from the legendary Disney stable. From Memphis to Manama, she’s selling records, books and DVDs faster than any other teen brand before her.
Marketers are victims of the whims of tweens, rather than the other way around. Brands that try to be cool and get it wrong really suffer.
The actress and singer is the daughter of country star Billy Ray Cyrus, he of achy breaky heart fame, the star of the sitcom Hannah Montana and the biggest child star since Shirley Temple. Currently starring in ‘Hannah Montana: the Movie’ in a cinema near you, she is hero-worshipped by kids the world over. The other half of the population, broadly speaking, hasn’t heard of her — yet.
In her television show she is Miley Stewart, a mild-mannered high school student by day who, courtesy of a blonde wig, morphs into the stadium-filling pop star Hannah Montana by night. A deft update on the Cinderella fantasy, Miley, instead of being secretly royal, is secretly famous, and tweenagers worldwide have bought into it wholesale.
For Disney executives, Miley is a dream come true. The numbers on the multimedia starlet are jaw-dropping. The opening episode of her sitcom Hannah Montana, which debuted in March 2006, raked in 54 million viewers. Now, at 200 million, the show has more viewers globally than Facebook has members. If Miley fans were a country, they’d have the fifth largest population in the world.
The dual personality has proved a marketing masterstroke, giving Cyrus — and her backers — two bites at the commercial cherry. Whatever Hannah sells, Miley can sell better. Her 2007 double album, ‘Hannah Montana 2/Meet Miley Cyrus’, debuted at No.1 in the US charts and then spent three months in the top five. The last album to achieve that feat was Stevie Wonder’s ‘Songs in the Key of Life’ three decades ago.
She has had seven singles in the US top 100 simultaneously, trumping both the Beatles and Elvis Presley. Her tour tickets sold for more than $3,000 on the secondary market. Her line of Miley merchandise, spanning from Wii games to a clothing line, by way of watches, dolls and an array of other goods, has helped shoot Disney Consumer Products’ sales up to $2.7bn in 2008 from $400m in 2007. By any measure, the Tennessee teen is a gold mine.
Time magazine last year listed Cyrus among its 100 most influential people, while Forbes slotted her in at No.35 of its top earning celebs. She’s so big she’s even made it into ‘The Simpsons’ — in one opener, Bart is seen writing “The capital of Montana is not Hannah” on his trusty blackboard.
Staggeringly, the autobiography she penned last year in exchange for a seven-figure sum has sold more than 30 million copies worldwide. And she’s still only 16.
The life of Miley
Disney Inc has hit global pay dirt with the Southern starlet, who is on track to becoming the bestselling tween brand of all time.
200 million
The number of viewers the Hannah Montana sitcom has worldwide.
7
Cyrus has had seven singles in the US top 100 simultaneously, trumping both the Beatles and Elvis Presley.
$3,000
Tickets to Miley’s ‘Best of Both Worlds’ tour sold for up to $3,000 on the secondary market.
30 million
The worldwide sales of Miley’s autobiography, ‘Miles to Go’.
$35 million
The budget for ‘Hannah Montana: The Movie’. The film grossed $34m in its opening weekend in the US.
$40bn
In the US alone, the tween dollar was worth some $40bn last year, and appears immune to the recession.
Disney Inc has hit global pay dirt with the Southern starlet, who is on track to becoming the bestselling tween brand of all time.
200 million
The number of viewers the Hannah Montana sitcom has worldwide.
7
Cyrus has had seven singles in the US top 100 simultaneously, trumping both the Beatles and Elvis Presley.
$3,000
Tickets to Miley’s ‘Best of Both Worlds’ tour sold for up to $3,000 on the secondary market.
30 million
The worldwide sales of Miley’s autobiography, ‘Miles to Go’.
$35 million
The budget for ‘Hannah Montana: The Movie’. The film grossed $34m in its opening weekend in the US.
$40bn
In the US alone, the tween dollar was worth some $40bn last year, and appears immune to the recession.
READERS' COMMENTS
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Tempted to right at least ONE comment
Posted by Khurram, Abu Dhabi, UAE on Wednesday 20 May 2009 at 19:38 UAE time
For such a famous star/ celeb/ icon, with 200 million fans that could make up the fifth largest population in the world and a 3 page article on Arabian Business...
And only one comment, from a non-fan....ironic.
Was this movie she appeared in shown in UAE...can't remember..
Posted by Khurram, Abu Dhabi, UAE on Wednesday 20 May 2009 at 19:38 UAE time
For such a famous star/ celeb/ icon, with 200 million fans that could make up the fifth largest population in the world and a 3 page article on Arabian Business...
And only one comment, from a non-fan....ironic.
Was this movie she appeared in shown in UAE...can't remember..
Tempted to right at least ONE comment
Posted by Khurram, Abu Dhabi, UAE on Wednesday 20 May 2009 at 19:37 UAE time
For such a famous star/ celeb/ icon, with 200 million fans that could make up the fifth largest population in the world and a 3 page article on Arabian Business...
And only one comment, from a non-fan....ironic.
Was this movie she appeared in shown in UAE...can't remember..
Posted by Khurram, Abu Dhabi, UAE on Wednesday 20 May 2009 at 19:37 UAE time
For such a famous star/ celeb/ icon, with 200 million fans that could make up the fifth largest population in the world and a 3 page article on Arabian Business...
And only one comment, from a non-fan....ironic.
Was this movie she appeared in shown in UAE...can't remember..
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