The Growing Number of Celebrity Businesses – And Why Many of Them Fail

This paper addresses the increasing prevalence of celebrity businesses and explains why celebrities are starting said businesses. Identifying how more people have garnered celebrity status and how social media has facilitated their rise to fame is crucial in addressing the growing number of celebrity businesses. When focusing on the business aspect, this paper explores the businesses development strategies that are critical to the success of all businesses and addresses problems that apply more specifically to celebrity businesses. Several comparisons between successful and failed celebrity businesses are made with the purpose of identifying the recurring problems that may contribute to the celebrity businesses’ failure.