Connect with us

Life

How J.K. Rowling Earned $95 Million In A Year

Published

on

The first Harry Potter novel turns 20 this month, but the franchise’s earnings power seems to be getting only stronger with age. Author J.K. Rowling earned $95 million over the 12 months to June, before taxes and management fees, by FORBES’ estimate. That not only places the British novelist third on our list of the world’s highest-paid celebrities, it also earns her the title of the world’s highest-paid author, surpassing the prolific James Patterson (No. 9, $87 million), who has held the crown for nearly a decade.

Celebrity 100: The World’s Highest-Paid Celebrities Of 2017

Rowling’s 12-month earnings have not exceeded $19 million since 2008, when she topped FORBES’ Celebrity 100 with an astounding $300 million. This year’s surge is largely due to her stage play, Harry Potter and the Cursed Child. Though Rowling has numerous revenue streams from the Harry Potter franchise, she made nearly half of this year’s earnings from writing about the Boy Who Lived. The stage play, written by Jack Thorne based on an original new story by Rowling, Thorne and John Tiffany, was the bestselling book of 2016 in the U.S., U.K. and a number of other countries. In the U.S., it has sold over 4.5 million copies since its July release, according to NPD Bookscan, which covers approximately 85% of the U.S. print book market. Harry Potter and the Cursed Child also buoyed the sales of Rowling’s back catalogue. Rowling sold 8.4 million print units in the U.S. over the past 12 months, topping her nearest competitor, James Patterson, by 2.5 million units, according to NPD Bookscan. Though the vast majority of Rowling’s sales are hardcover units, a knowledgeable source says that her company Pottermore returned to profitability in this fiscal year largely thanks to a surge in e-book sales.

Across the pond, Harry Potter and the Cursed Child has also made millions for Rowling. The stage play topped the charts in Rowling’s native Britain with 1,372,402 copies sold in 2016. The West End production of Harry Potter and the Cursed Child is a smash hit, critically and commercially. It won nine Olivier Awards, an all-time record for a West-End production, and is sold out well into 2018. Next April, the play will transfer to Broadway, where it will likely bring greater profits for Rowling due to higher ticket prices (and perhaps a Tony).

The second-largest chunk of her income comes from the Wizarding World of Harry Potter, a chain of themed attractions at Universal Parks & Resorts. Rowling receives low double-digit millions from a share of ticket, merchandise, sponsorship and food and beverage revenue. Wizarding World has been a massive boon for Universal Studios since the first one opened in 2010 at the Islands of Adventure park in Florida. Attendance at Universal Studios’ theme parks rose 80% to 47.4 million from 2010 to 2016, according to industry reports by the Themed Entertainment Association and AECOM.

Universal Studios spent a king’s ransom for the Harry Potter licensing rights and building the attractions—the first Wizarding World reportedly cost $265 million—but it has more than paid off. “From my point of view being a theme park designer, the Harry Potter series is more valuable and even bigger than Star Wars,” says Edward Marks, Co-CEO of the Producers Group, an international theme park production company.

“Potter crosses all ages, all sexes and connects with almost everyone.”

He has worked with Universal on and off since 1990 but was not involved in Wizarding World. According to Marks, the Wizarding World attractions, which are highly immersive, were an artistic and commercial gamechanger for Universal. “Harry Potter changed the way theme parks are designed and built,” he says.

Rowling’s latest film, Fantastic Beasts and Where to Find Them, is her lowest-grossing movie ever with a “mere” worldwide gross of $814 million on an $180 million production budget. But thanks to her renown and her screenwriter credit, Rowling got a low double-digit percentage of the net box office, a much higher share than most authors, ultimately receiving over $10 million, by our estimate. Though the sequel, slated for 2018, will likely gross less worldwide (and certainly in North America), the warm critical reception to the first film could give the next few installments a leg up, says Scott Mendelson, FORBES contributor and box office pundit. “Since most folks liked the first Fantastic Beasts, all Warner Bros. has to do is make a decent or better sequel and they will have goodwill for at least one or two more, at which point they are home free even if the last two stink.”

As long as the films are budgeted reasonably – $200 million or less, says Mendelson – Rowling should be able to continue to make a pretty penny off the big-screen adventures of Newt Scamander if they can gross $600 million worldwide. As for the original Harry Potter movies, Warner Bros. recently sold the television airing rights to NBC Universal in a seven-year deal estimated at $250 million, according to the Wall Street Journal. We estimate that Rowling received a low-double digit share of the deal with payments divided over the seven years.

George Clooney Could Get Up To $233 Million From Casamigos Tequila Sale

After a phenomenal year, Rowling’s earnings are set to dip since she will not be publishing a new Harry Potter book within our 12-month scoring period. But between her upcoming Broadway production, the Fantastic Beasts sequels and a possible Wizarding World in Beijing, she might continue to top Patterson in years to come.

The Celebrity 100 ranks “front of camera” entertainers around the world by pretax earnings from June 1, 2016 to June 1, 2017, before deducting fees for agents, lawyers and managers. Our numbers are based on figures from IMDB, Nielsen, NPD Bookscan and Pollstar, as well as interviews with industry experts and many of the stars themselves. – Written by Hayley C. Cuccinello, FORBES STAFF

Continue Reading
Advertisement
Comments

Life

The Talented Choir That Never Had A Music Lesson

Published

on

From humble beginnings to the limelight in  Hollywood, their success is for every ordinary African with big dreams and a bigger mission.

From the dusty rural Moutse village in South Africa’s Limpopo province to the bright lights of Hollywood, the Ndlovu Youth Choir have proven there can be no impediment to global glory if your ambition is great and your passion greater.

When this group of young boys and girls came together, little did they know the world would rise in unison to applaud them. Late last year, their turn as the finalists of America’s Got Talent, a televized American talent show competition in the United States created by Simon Cowell, earned them prowess and praise.

So when an opportunity came to meet them at popular South African restaurant Nando’s in the suburb of Lorentzville in Johannesburg, during a launch event last month, I seized it with conviction and my camera.

The choir’s co-founder and choirmaster Ralf Schmitt started from the beginning, about how he got involved with the group at the opening of the amphitheater in the village of Moutse.

READ MORE | Soweto Gospel Choir: Three Heavy Grammys And A World Singing Their Praise

What started out as a mission to serve the community ended up becoming an even greater force – on the world stage.

“This is the same village that raised the Ndlovu Youth Choir powered by the Ndlovu Care Group. The group was doing amazing work with HIV awareness and treatment in the early 2000s and the amphitheater was built for the community to gather, receive information and do drama workshops around HIV/AIDS.”

Schmitt was contacted to do music for the opening in 2008 because of his track-record in the industry, as he was also part of the internationally-renowned Drakensburg Boys’ Choir.

“I’ve always loved choir and singing. I went on to study music and it worked from day one. I started conducting school choirs and worked with young people. I love composing, I love conducting, I love performing and I love teaching and the medium of a choir allows me to do them all,” he enthuses.

These young people can be the beacons of what’s possible in a rural community.

Ralf Schmitt

He had originally suggested they start a brass band but because of their location in Limpopo, far from big city Johannesburg, it would have been difficult for the teachers and trainers to regularly access and develop them.

The choir became the obvious choice as part of the orphans and vulnerable children’s program at the Ndlovu Care Group.

The horrific HIV pandemic had left many orphaned and the program was meant as a healing curriculum for the community. It became so successful that when it came for the participants to leave school, they were not willing to leave the program as they were unable to find employment or afford secondary education.

Schmitt says thus an idea of transforming the choir into a platform to generate an income for unemployed youth was born.

READ MORE | The Choirboy Inspired By Criminals

Today, the choir boasts about 40 members and includes a job creation program for the older singers who do most of the performances.

The choir has also started a home schooling program for learners – a full-time tutor travels with them locally and internationally.

“When we turned professional in 2018, it took about six months to get us going. I called a few people I knew in the industry and bookings were coming in slow,” recalls Schmitt.

“We needed a product and the arrangement we did of a Zulu version of Shape Of You by Ed Sheeran, brilliantly translated by Sandile Majola and Sipho Hleza, went massively viral on social media and had 25 million views and that got the nation’s attention and that was the first time we got serious publicity and bookings started flooding in.” 

Soon after, the choir performed live for a South African radio station and that’s where America’s Got Talent heard the Zulu arrangement and made contact and asked for videos.

He remembers he couldn’t get the videos out to the producers because of service delivery protests in the area. The choir conductor was blocked by an angry mob with burning tyres and rocks, but that didn’t stop the choir from performing at the Derby Theatre miles away from home.

“I am so pleased that these young people can be the beacons of what’s possible in a rural community, every single one of them are from that community and not anyone went and studied music at tertiary level, all that is produced is raw talent and they never had a music lesson in their life. As the artistic director, I try very hard at preserving that talent because that’s the magic,” he says.

The first time they got on stage, he recalls thinking that the audience didn’t know them; they probably just saw the group as kids from a rural community in South Africa.

However, the warmth they received was unforgettable. Whereas, in comparison, the experience at America’s Got Talent was intense and draining, but exhilarating, he recalls.

“It was nerve-racking when the music went down and the lights dimmed and Gabrielle Union [American actress] screamed ‘you are going through!’ and everyone just lost their minds. It was special we were through to the live finale.”

Thulisile Masanabo is one of the senior members in the choir who also assists with wardrobe. She has been with the choir since 2013 when she was 16 and very shy.

READ MORE | ‘Don’t Be Afraid To Bend The Rules’ – Miss Universe

“I used to stand at the back of the row at the beginning. As the years went, I began to gain confidence and moved to the third row, then second, now, I’m in the first row,” says Masanabo. 

She opened the song Africa by Toto wearing bright yellow garments to a noisy and ecstatic American crowd.

Looking back, she chuckles saying she had auditioned singing the South African national anthem.

“I was on my way back from school and Sandile called me in. He was standing outside and just calling people in to audition. He didn’t want to know if you can or cannot sing,” Masanabo says of her recruitment into the group.

All members of the choir are under the age of 30; among them, is 25-year-old Majola who helped arrange the Zulu version of Shape Of You.

He joined when he was a 14-year-old school boy accompanying his sister to the auditions.

“I was invited inside to try my luck on August 23, 2009,” he recalls vividly.

“I first traveled internationally with the choir in 2011 to Holland and the performance was average, it was not as nice as we perform today.”

He says the choir upped his self-esteem and he now can communicate better with people and perform more effectively on stage.

One of the songs instilled in him was written by Schmitt titled Believe dedicated to the choir.

 “The message was for us, but now, it’s for other young people as well. They should never stop dreaming,” says Majola.

This young group of music-lovers is testament that believing and dreaming big can indeed make you cross borders.

Their journey was from a tiny village, to grabbing the limelight in one of the globe’s biggest talent search shows. The world is now truly their stage.

Continue Reading

Entertainment

Harry And Meghan Need $3 Million-Plus To Be ‘Financially Independent.’ Here’s How They May Do It.

Published

on

By

Prince Harry and Meghan Markle would like to “become financially independent,” they announced Wednesday—and that may have to happen sooner rather than later, as Prince Charles, Harry’s father, is reportedly threatening to pull the millions he gives them each year. How they plan to replace those funds remains a subject of feverish palace intrigue about which the couple remains mum.

But what is clear: By stepping away from their duties, they likely are no longer prohibited from earning income the way senior members of the royal family are, clearing the way for them to take real jobs. What will those be? And how much will they actually need to make in order to live in the style to which they’ve become accustomed?

Annual Costs: Roughly $3 Million A Year (Not Including Renovations)

It’s hard to pinpoint the exact amount that Prince Harry and Markle earn from the various royal mechanisms each year—and a spokesperson for the Sussexes did not respond to questions about on the couple’s finances—but 95% of their annual income comes from Prince Charles, Harry’s father, via the Duchy of Cornwall. A trust that consists of 131,000 acres of real estate and more than $450 million in commercial assets within the United Kingdom, the Duchy of Cornwall was established in 1337 to support the direct heir to the throne.

That estate paid a combined $6.5 million (or £5.1 million) to the Duke and Duchess of Cambridge (Prince William and Kate Middleton) and to Prince Harry and Markle in the fiscal year ending March 2019, according to the latest financial report. The funding for the princes and their families didn’t change much from 2018 to 2019, although both reports were prior to the birth of the Sussex couple’s son, Archie. Let’s assume the brothers split that income from the Duchy (though William and Kate, with three children, are likely taking a bit more). While the Duke and Duchess did not immediately surrender this income, reports surfaced Friday that Charles is threatening to cut them off completely.

The Duke and Duchess of Sussex did announce that they will “no longer receive funding through the Sovereign Grant,” which we know covers an additional 5% of their income, and used for their official duties. It covers official business such as international tours, travel to official events and the upkeep of their homes and offices, and comes from about 25% of the revenue from the Crown Estate (£85.9 million or $112.2 million for the 2020–2021 fiscal year), a portfolio of investments controlled by the monarchy—though not by the royal family or the government—and includes properties across the United Kingdom. (For example, the Queen herself does not own Buckingham Palace.) 

In 2018 and 2019, the couple used money from the Sovereign Grant to travel across the world, from Fiji to South Africa, on official royal business. While the royal annual reports don’t detail how much the Sussex’s travels cost in total, their trip to Fiji and Tonga cost $105,000 (£81,000), according to the latest Sovereign Grant financial report. (While it may seem that travel costs could go down as the couple steps back from royal duties, they say they plan to split time between the British Isles and North America, which will lead to new expenses.) 

Based on what we know, we estimate the total of the couple’s funds from the Duchy and Sovereign Grants to be a (very conservative) $3 million—again, not including security costs. 

And that’s not including the cost of their home and renovations: The Sovereign Grant covered last year’s $3.12 million (£2.4 million) refurbishment of the Frogmore Cottage, the four-bedroom plus nursery home in Windsor where the couple lives when they are in England. The home’s maintenance began before the couple decided to move in and was covered by the Queen, under existing commitments to maintain the upkeep of certain historical buildings, while the couple privately paid for the furniture and decor. Even though the house is property of the Queen, the couple plans to continue using it as their official residence when they are in the United Kingdom—meaning less rent to pay. 

None of this takes into account the cost of their security, which is reportedly covered by the Metropolitan Police, and which the family is expected to continue to accept.  

With all of these expenses and their easy access to funds facing a precarious future, the questions remains of how, exactly, the couple plan to earn the millions that their lifestyle demands. 

What Could Make A Royal Gig: Books, Speeches, SponCon?

They do have some money to live off of: Thanks to her seven-year stint on the television drama Suits, Forbes estimates that Markle has a net worth of about $2.2 million. Prince Harry has money of his own as well, as he and his brother received the bulk of Princess Diana’s $31.5 million estate upon her death in 1997.  

But it is likely that they will join other royals, like Harry’s cousins Princess Beatrice and Princess Eugenie, and actually take paying gigs (the former works in finance, while the latter works at an art gallery). While no announcements have been made as to how exactly the couple plans to make money, it would seem natural that they take up work in the entertainment and media fields. 

Markle has said that she was giving up acting for good once she joined the royal family; maybe this is an opportunity for her to change her mind. At the height of her acting career, she commanded up to $85,000 per episode of SuitsForbes estimates, a number that would likely shoot up thanks to her royal title if she decided to return to the screen.

But it is more likely that the pair will take up shop on the speaking and book circuit. High-profile speakers like former president and first lady Bill and Hillary Clinton can earn up to six figures per speech to corporations and universities, while even B-list celebrities like Jersey Shore’s Nicole “Snooki” Polizzi could command $32,000 per oration during the height of her fame. 

A hit book has the potential to earn the couple even more. A seven-figure advance is typical for celebrities like Amy Schumer and politicians like Elizabeth Warren, with some high-profile authors earning even more. In 2017, former president and first lady Barack and Michelle Obama signed a record-breaking $65 million book deal with Penguin Random House, while Hillary Clinton scored a $14 million advance for Hard Choices in 2014, and Bruce Springsteen got $10 million for 2016’s Born to Run. 

There’s also talk that the couple, which favors new media and direct lines of communication with their fans, may even start a podcast, which could be a lucrative endeavor. Last year, advertising spend on podcasts reached an estimated $680 million, according to a PricewaterhouseCoopers report, and that number is supposed to shoot up to $1 billion by next year.

And in the unlikely chance they’re ever interested in following the footsteps of the royal family of Calabasas, the Duke and Duchess could surely earn an enormous sum doing sponsored content on their widely popular (10.4 million followers) Instagram account. Celebrities like Kim Kardashian West and her half-sister Kylie Jenner earn up to $500,000 per post.

Of course, the details of the couple’s future, and their future earnings, are all in flux, as Buckingham Palace’s curt statement on the matter made clear. And the wording of their own statement made sure that they can work toward financial independence on their own time. One thing is for certain: It doesn’t seem as if the Duke and Duchess will be hurting for cash anytime soon.

By  Madeline Berg, Reporter, Forbes Staff and Deniz Çam , Wealth Reporter, Forbes Staff.

Continue Reading

Arts

Forbes Africa’s Best Photographs In 2019

Published

on

[Compiled by Motlabana Monnakgotla, Gypseenia Lion and Karen Mwendera]

Image 1:

Kabelo Mpofu, an entrepreneur, took over his mother’s shop in Meadowlands, in the South African township of Soweto. He is hopeful of making the family business a success despite big retail stores opening up in the townships and swallowing up the corner groceries.

Image 2:

Africa is the youngest continent in the world. Every year, South Africa observes June as Youth Month, honoring the anniversary of the Soweto Uprising on June 16. In this image, the country’s sprawling township of Soweto comes alive with youth dancing in the winter weather to local and international music at the Soweto International Jazz Festival, an annual confluence of history, art and culture.

Image 3:

Women hold up placards against gender-based violence during a ‘Shutdown Sandton’ campaign; this after a spate of brutal rape and killings in South Africa.

Image 4:

Car dealerships were among the businesses set alight in Johannesburg’s Jules Street, during the spate of xenophobia attacks in South Africa in August this year. The spark that fueled the raging fire began in Pretoria, the country’s capital, when a taxi driver was shot dead by a foreign national who was selling drugs to a youngster in the central business district.

Image 5:

Sibusiso Dlamini, the co-founder of Soweto Ink, works on one of his regular clients at his tattoo parlor founded in 2014 with his long-time friend, Ndumiso Ramate. In 2019, Soweto Ink held the fourth annual tattoo convention, and for the first time in partnership with BET Africa, to break tattoo taboos in Africa.

Image 6:

Mmusi Maimane, the former leader of South Africa’s opposition party, Democratic Alliance, is about to cast his vote in front of local and international media houses who had wrestled to get the perfect shot in his hometown in Dobsonville, Soweto, during the elections in South Africa in 2019.

Image 7:

The brother of South African journalist, Shiraaz Mohamed, begs for government intervention after Mohamed was kidnapped in Syria on January 2017 by a group of armed men. The group demanded more than $500,000 for his freedom.

Image 8:

South African President Cyril Ramaphosa with his body guards at the Sandton Convention Centre in Johannesburg, South Africa, where the three-day South Africa Investment Conference was held in November.

Image 9:

In a world that’s embracing new technology, inspiration is being found in bug behavior. The hard-bodied dung beetle is now key to robotics research, in Africa too. Astounded by this discovery early this year is Marcus Byrne, a researcher at the University of the Witwatersrand in Johannesburg who has been studying dung beetles for over 20 years. He holds up a metallic replica of a dung beetle in his hand in his office at the university.

Image 10: 

Mzimhlophe Hostel, a hostel among many others in Soweto, erupted with service delivery protests prior to the elections in South Africa. In the same vicinity, an informal settlement was also allegedly set on fire. Brothers Mduduzi (32) and Kwenzi Gwala (22), pictured, had arrived in Johannesburg looking for employment. They sold African beer, but their shack was set alight while they were still at church. They lost all their stock and possessions.

Image 11: 

A thrift market in the heart of Johannesburg’s central business district, not too far from a busy taxi rank, known for its pavement robberies. Despite the crimes, thousands of small entrepreneurs trade in this raucous market every day.

Image 12:

ANC, DA and EFF supporters dancing and chanting outside the Hitekani Primary School in Chiawelo, Soweto, South Africa, as they await South African President Cyril Ramaphosa to cast his vote in his former primary school. 

Image 13:

Tenants in the discarded Vannin Court in Johannesburg look on from their balconies as jubilation erupts on the ground floor.

Image 14:

Vestine Nyiravesabimana makes money weaving intricate baskets made of grass to feed her nine children in Kigali, Rwanda.

Continue Reading

Trending