According to the U.S. Census Bureau, there are over 45 million African-Americans currently living in the United States. Given this, it’s no surprise that Black Entertainment Television (BET) is watched in over 90 million homes throughout the globe.
Since 2010, BET has been the top network for younger Black-American audiences that want to know what’s going on with their favorite celebrities as well as learn more about the entertainment industry. Furthermore, BET is considered to be the main producer and source for Black-American cultural and entertainment-based programs.
Whether someone is looking for the latest in Hollywood or urban news, the celebrity gossip industry brings in over $3 billion a year. The lives of prominent celebrities such as Beyonce, Oprah, Denzel Washington, Will Smith, and Jay Z, are of definite interest to fans of all ages.
Most people realize that when celebrities endorse specific products and services, it can make a major impact on sales. Hip-Hop lovers alone contribute approximately $500 billion a year for music downloads, clothing, and other purchases.
Celebrity endorsement can also increase a company’s selling value. According to a Harvard Business School study that was conducted in 2011, when a major celebrity is signed on, it can increase the value of that business by $10 million a year. Furthermore, stock returns were also shown to increase by 0.25% on an annual basis when a company was celebrity-endorsed.
It’s also important to note that when celebrities focus on a cause, their fans often follow close behind. While participation in these causes is usually higher among the younger generation, which is between the ages of 18-to-36, the older generation may still participate. It was found that for individuals 68 and above, about ten percent will support and participate in celebrity causes.
While the latest in Hollywood news has a high entertainment value, many readers and viewers also want to learn more about urban news and community trends. As a result, it’s not unusual for current celebrity news to include commentary from major celebrities on the impact that social, cultural, and political issues have on the future of the United States in general and the African-American community in particular.