How successful do you need to be to be a millionaire?

Question

Following the reports that Jo O Meara was about to get her house repossessed prior to CBB, wouldn't you think she would have made enough in S Club to buy a house outright?

This got me thinking, just how successful do you need to be to really start making money out of music? Seemingly the likes of Steps, S Club, Girls Aloud only get performer royalties as they don't write or own the publishing rights, but how successful do you need to be to really start earning big money?

Which bands/singers etc have made it properly big enough to be called millionaires (and i don't mean the obvious ones like Madonna, Bono who have trillions and have been on the go for centuries). For example, would someone like Chris Martin of Coldplay have made enough to be a millionaire yet?

Answer 1

Alot of celebrities as you see in magazines dont know how to look after there money its put on a plate for them and they just spend it like it was nothing,you see them out partying everyday of the week they always buy expensive clothes,make-up etc.No wonder people like jo are skint they think there carreers are gonna last forever so they just spend spend spend thinking they`ll never be out of a job,then there going on reality shows just to get abit of money.People like madonna probably have been more carefull with money plus married people with money as well.I wouldnt know about chris martin but look at him hes married gwyneth paltrow and shes got quiet abit of money plus her family are rich as well so i guess he used his head and got with someone who had money but i do think chris has made his money as he is a good music artist and i think he does write all his own material.

Answer 2

I'm sure the people in S club made atleast a million they were always doing performances, had a tv show and 3 albums. However a million dollars isnt that much and if you buy and expensive house you can go through that money in no time. If she made a million she was probably stupid with her money and blew it away. Its easy to just keep spending and spending till your broke the problem is she probably stopped getting paid.. and had all these expenses she thought she could handle back when she was making.
Coldplay is super successful and they would of made a lot but if they stop getting paid and keep spending eventually they'll go broke. PLus he has gweneth to mooch from.

Answer 3

Non of them made much money, they weren't on the scene long enough nor sold enough records.

By the time they've paid the 15% - 25% to their agent/manager, deducted the costs of production, paid any session singers/musicians, had tax deducted and incidental expenses - there's not a lot left (to be divided between 7 ?).

It's only when they have become 'big' and had several hits, are they in a position to negotiate contracts which give them more money or a % of sales. (Initially they would get a flat fee).

Mel B, Mel C, Posh etc., (Sheesh, can't even remember the group name !) only really started making money when they sacked their original manager and did things on their own.

Answer 4

There are different paths to make money.
Allot of millionaire and billionaires are usually business men.
Music and movies is a very common one, but you have to be good at every catagory you choose.
Business - be good at selling, managing, much more
music and movies - Sound good, act good, look good.

Answer 5

It may also have some thing to do with life style, if they're out partying and blowing their cash constantly, then they may be spending as fast as they're making. With some it may go to their heads and they get over generous with their "friends".

Answer 6

For some, they get lucky. For others, I would say..keep doing the lottery.

Answer 7

MMMMmmm....it does make you wonder how MUCH money people get paid.

Answer 8

I won't answer this question for less than $1000.