Branding has always been a pivotal component of successful business, especially for major corporate entertainment companies like studios, networks and record companies. However, today's technological advancements have helped turn branding into a reality for individuals and small companies trying to survive in a rapidly changing marketplace. Branding has become crucial to maintaining long-term staying power in the entertainment industry.

The introduction of cable networks, video games, the Internet, smartphones and social media into everyday life has created unprecedented competition for viewers and marketing dollars. Artists and companies, both large and small, need to build brand loyalty with audiences. To be successful in today's industry, an artist requires more than talent, but also needs savvy business skills to secure durable success in a shifting industry. This new reality has resulted in a revolution of increased strategic partnerships in which artists align with high-profile brands.

Corporate Brands and Celebrities Working Together
While not a new concept, the practice of utilizing celebrity endorses and forging joint ventures with celebrities to promote corporate brands has exploded in recent years. Even luxury brands that had previously refused to employ a spokesperson are beginning to turn to celebrity endorsements. The practice has become a necessity to compete as one of the frontrunners in almost any market.

Multi-hyphenate Celebrities
The term "multi-hyphenate" refers to celebrities and artists who demonstrate multiple talents and become branded across different mediums. Today's celebrities cannot rely on only one revenue stream or job to maintain their costs of living, but must enter partnerships with major brands or create their own line of products to grow their brand and revenues. Cross-genre marketing is the new branding norm. This is why so many stars are building multiple income streams by skipping from one market to numerous areas. The strategy maximizes rewards for those who build a reliable team of representatives and are capable of managing multiple projects.

The Future of the Entertainment Industry
 Celebrity and corporate brands must evaluate their opportunities carefully to ensure the messaging is correct, the target audience is mutually beneficial and collaboration is in the best interest of all parties involved. Most of the time, these joint ventures are, in fact, highly profitable and worth the effort.

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