Business of Madonna
American singer-songwriter and businesswoman who founded Maverick Records.
Forbes · via Wikipedia: Business of Madonna · Fair use
Madonna, the American singer-songwriter and businesswoman, has drawn attention in business journalism for her entrepreneurial moves. She launched ventures such as Maverick and its offshoot Maverick Records, making her one of the first female artists to own an entertainment company and a record label. That label, Maverick Records, went on to become the top-earning artist-run label of its era. The media viewed her favorably as a businesswoman, and in 1990 she became the first solo female entrepreneur featured on the cover of Forbes.
Throughout her career, academics and journalists have analyzed Madonna through the lenses of marketing, commercialism, and social themes, drawing both praise and criticism. Dubbed the "Material Girl," some see her as a symbol of the materialism and consumer culture of the 1980s. Others describe her as a model of constant reinvention, while her career has also sparked controversies, with critics sometimes viewing her primarily as a marketing product.
Madonna set multiple earnings records in the music industry. She held the title of the world's highest-paid female musician for a record eleven years, spanning four decades from the 1980s through the 2010s. She was the wealthiest woman in music until being overtaken in 2019. In 2013, she recorded the highest earnings ever for a female pop star at that time, and in 2009 she became the first female artist to earn over $100 million in a single year.
- Field
- Music, business
- Nationality
- American
- Known for
- Founding Maverick Records, highest-grossing artist-run label; first solo female entrepreneur on Forbes cover (1990); world's highest-paid female musician for eleven years across four decades
Lore & Background
Madonna earned a reputation as a tenacious executive and a calculating businesswoman. Early in her career, publications described her as a calculating businesswoman, and she avoided labels such as manager and businesswoman. Many people spoke of her as the lady who works, and she was referred to as a workaholic. Some deemed her an example of the American Dream or a female version of the self-made man. Marketing tactics and publicity have been central to her career, with some academics describing her as a marketing genius. She earned a reputation as a trendsetter, widely perceived as being on the cutting edge, though after the release of Hard Candy (2008), media outlets characterized her instead as a follower of trends.
Reader's Guide
Madonna's significance lies in her pioneering role as a female entrepreneur in the music industry, establishing an entertainment company and record label that became the highest-grossing artist-run label of its time. She set earnings records, becoming the world's highest-paid female musician for eleven years across four decades, the richest woman in music until 2019, and the first female artist to earn more than $100 million in a single year (2009). Her business acumen received positive response both within and outside the music industry, with Billboard including her in its Power Players list in 2007. She was referred to as America's smartest businesswoman, and Forbes viewed her as one of the shrewdest businesswomen they had ever seen. Her approach of continual reinvention was cited as a model by other businesses and corporations. The Encyclopædia Britannica states that she achieved levels of power and control nearly unprecedented for a woman in the entertainment industry. However, her career has also been marked by controversies, and critics viewed her primarily as a marketing product. Academics and media have discussed her in relation to marketing strategies, commercialism, and broader social themes, attracting both positive commentaries and criticism.
Did You Know?
- Madonna became the first solo female entrepreneur to appear on the cover of Forbes in 1990.
- Madonna was the first major recording artist to choose a 360 deal with a touring company over a traditional record deal.
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