During the holiday season, few things are as iconic as Mariah Carey's festive classic, "All I Want for Christmas Is You." This song has become inseparable from this time of year, and it's nearly impossible not to encounter it wherever you go during the holidays.
Mariah Carey Net Worth 2023- How Much She Earns Each Christmas And Her Sources Of Income
Ever wondered just how much Mariah Carey's iconic holiday hit, 'All I Want for Christmas Is You,' contributes to her wealth? Dive into the numbers and discover the singer's net worth and the song's remarkable earnings in this financial breakdown.
Mariah Carey's Net Worth
Mariah Carey's Net Worth
Mariah Carey continues to reap the benefits of her holiday classic, "All I Want for Christmas Is You." In 2022, the song generated approximately $8.5 million in global revenue and publishing royalties, as reported by Billboard. From this, Carey earned an estimated $1.86 million in royalties last year, according to Billboard's estimates.
Furthermore, it's worth noting that Carey has consistently earned an average of around $2.5 million annually in royalties from the song since a 2016 study conducted by The Economist. This enduring popularity and financial success make it a truly remarkable holiday gift that keeps on giving for the singer.
In December 2021, "All I Want for Christmas Is You" achieved the milestone of reaching 1 billion streams on Spotify. For the past four consecutive years, the Christmas hit has secured the top spot on Billboard's Hot 100 chart, which measures the most popular songs weekly based on factors like airplay, sales, and streaming, not limited to holiday-themed songs.
According to a report from the Associated Press, the song is projected to generate over $100 million in total earnings in 2023.
“That song is just embedded in history now,” says David Foster, the 16-time Grammy-winning composer and producer. “It’s embedded in Christmas. When you think of Christmas right now, you think of that song.”
Mariah Carey's Net-Worth As Of 2023
Mariah Carey has amassed a substantial fortune throughout her career, which includes earnings from her successful music career, lucrative tours, and endorsement deals. According to Celebrity Net Worth, Carey's estimated net worth stands at $350 million. If you're wondering why is Mariah so rich, here's a breakdown of how she accumulated her wealth.
Music Career
Mariah Carey's illustrious music career has indeed been a lucrative one, earning her five Grammy Awards and securing her status as one of the best-selling female artists in history. Here are some key highlights of her accomplishments:
Sales and Chart Success: Carey has sold over 200 million albums worldwide and boasts an impressive 19 Billboard Hot 100 No. 1 singles, making her one of the most successful artists in chart history. As of today, Carey holds the 10th position globally on Spotify, with approximately 73.4 million monthly listeners. This attests to her enduring popularity on the streaming platform.
Guinness World Records
Her holiday hit, "All I Want For Christmas Is You," made history by setting three Guinness World Records in 2019, including the title for the most-streamed track on Spotify in 24 hours by a female artist. It achieved over 10.8 million streams in a single day in December 2018 and later broke its own record in 2022 with 21.3 million streamed listens.
Lucrative Residencies
Mariah Carey earned a significant income from her two-year residency at Caesar's Palace in Las Vegas from 2015 to 2017, raking in a reported $30 million for her performances.
"American Idol" Earnings
In 2012, Carey reportedly earned $18 million for her role as a judge on one season of "American Idol." She was recognized as the highest-paid judge on a music competition show at that time, as reported by Us Weekly.
These achievements and income sources, amongst others, have contributed to Mariah Carey's remarkable success and her status as one of the most celebrated and financially prosperous artists in the music industry.
Other Sources Of Income
Mariah Carey's financial success extends beyond her music career and includes lucrative endorsements, business ventures, and her work as an author. Here are some notable highlights.
Endorsements
According to Billboard, Carey embarked on her journey into product endorsements back in 2006. Her endorsements have included a range of products, from Intel Centrino computers and a line of accessories for Claire's and The Icing called Glamorized to her own line of perfumes in collaboration with Elizabeth Arden. Additionally, she endorsed the high-end Angel Champagne, known for its staggering price tag of $290,000 per bottle.
Carey's endorsement portfolio extends to well-known brands like Pepsi, Motorola, Gillette Venus, Jenny Craig, McDonald's, Milk Bar, and HSN. In November 2019, Carey reportedly received a substantial payment of $11 million from PepsiCo for her participation in a Christmas campaign. Her endorsement deals with major brands have added significantly to her earnings.
Not stopping there, she also ventured into the culinary world with her Mariah Carey's Cookies line, created in partnership with Robert Earl. Furthermore, she introduced her own brand of Irish cream liqueur, Black Irish, drawing inspiration from her diverse heritage, which includes Black, Venezuelan, and Irish roots.
In 2022, Carey collaborated with the renowned jewelry company Chopard to launch two fine jewelry collections. Such partnerships in the fashion and luxury industry can be highly profitable.
Movies and Shows
Beyond endorsements, Carey's career has diversified into various other avenues. She starred in her own reality show titled "Mariah's World," and graced the silver screen in movies such as "The Bachelor," "WiseGirls," "Glitter," "The Lego Batman Movie," "You Don't Mess With the Zohan," "The Butler," "Precious," "Popstar: Never Stop Never Stopping," among others. Additionally, she has been a part of holiday specials and even appeared in a Hallmark Christmas movie titled "The Keys of Christmas."
Authorship
Mariah Carey has demonstrated her talent as an author with the release of her memoir, "The Meaning of Mariah Carey," in September 2020. The book's success was evident as it quickly climbed to the No. 1 spot on The New York Times Best Seller list just a month after its release. Additionally, Carey has authored two children's books, "All I Want For Christmas Is You" and "The Christmas Princess," further diversifying her creative pursuits and income streams.
These endeavors showcase Carey's versatility and business acumen, allowing her to leverage her brand and talent into various lucrative ventures beyond her music career.
Mariah Carey's Journey To Fame
As many may recall, Mariah Carey's journey to fame commenced in the late 1980s and early 1990s. While she possessed immense talent, her path to stardom was far from smooth. In the early stages of her singing career, despite her undeniable abilities, the music industry did not provide her with significant opportunities. It was only through the introduction and support of Brenda K. Starr that Mariah Carey was able to connect with influential figures in the industry, opening doors to her remarkable career.
Mariah Carey's initial breakthrough in the pop music scene occurred when her demo tape found its way into the hands of her future husband, Tommy Mottola. He went to great lengths to locate her and extended a contract offer with Columbia Records. Following her signing with the label, Carey recorded the chart-topping hit "Vision of Love." Additionally, her collaboration with Boyz II Men on the song "One Sweet Day" proved to be a massive success, dominating the charts for an impressive 11 consecutive weeks.
Following her marriage to Tommy Mottola, Mariah Carey's next two albums did not achieve the same level of success as her first two. Subsequently, she parted ways with Columbia Records and signed with Virgin. However, during this period, she faced health challenges that led to hospitalization, and she withdrew from the public eye for an extended period. Her only notable project during this time was creating a soundtrack for the movie "Glitter."
Virgin Records essentially provided Mariah Carey with financial incentives to leave and sign with Island/Def Jam. Under new guidance at her new record label, Carey experienced a remarkable comeback with her highly successful album "The Emancipation of Mimi," which sold over 8 million copies worldwide.
A pivotal moment in Mariah Carey's career occurred with the release of "All I Want for Christmas Is You." This song not only shattered records but also became one of the world's most profitable singles, generating over $60 million in royalties. Remarkably, it's reported that Carey composed this iconic song in a mere 15 minutes.
Story Behind The Making Of A Christmas Classic- "All I Want For Christmas Is You"
In 1994, Mariah Carey, who was 24 years old at the time, achieved tremendous success with her third studio album, "Music Box." This album eventually sold 38 million copies worldwide, ranking as one of the best-selling albums of all time, specifically the 32nd best-selling album in music history.
At that point, Mariah was married to Tommy Mottola, the Chairman of Sony Music. Tommy, being both her manager and husband, was busy strategizing her next career move after such a massive hit album. Surprisingly, he suggested that Mariah should release a Christmas album, despite her initial opposition. Mariah believed that Christmas albums were typically something artists did towards the end of their careers, not at the height of their success.
Historically, record companies often rushed out Christmas albums for artists they feared might be a passing trend or those attempting a last-ditch effort in their careers. Mariah's songwriting partner, Walter Afanasieff, shared her concerns. They had just released a groundbreaking album, and it seemed like taking a step back.
However, Tommy Mottola, being a powerful figure in the music industry, was persuasive. He had one additional requirement for Mariah and Walter – they had to write at least one new, original Christmas song for the album. Tommy knew that creating a Christmas classic could generate substantial royalties year after year.
In the summer of 1994, Mariah and Walter locked themselves in a studio at The Hit Factory in Manhattan to work on what would become the "Merry Christmas" album. During one session in August 1994, they came up with the idea for "All I Want For Christmas is You" in less than 15 minutes, combining a "boogie woogie, rock and roll" riff with improvised lyrics.
Mariah's "Merry Christmas" album was released on October 28, 1994, and achieved considerable success, largely thanks to the hit single "All I Want for Christmas is You." To this day, the song has sold more than 16 million singles worldwide, making it the 12th best-selling single in music history and the most successful modern-day Christmas song.
Breakdown of Maria Carey's Earnings From "All I want From Christmas Is You"
How much money has Mariah Carey earned in royalties from "All I Want for Christmas is You" over the years, particularly during the holiday season? Let's break it down, starting with the total earnings from the song to date.
As per Celebrity Net Worth, to date, "All I Want for Christmas" has generated a substantial $80 million in total royalties. Mariah Carey and her co-writer and co-producer, Walter Afanasieff, receive the majority of this revenue as the song's creators.
What's even more remarkable is that the song has become a highly valuable asset. If the rights to the song were ever put up for sale, it could potentially fetch a price 30 to 40 times its annual earnings. This leads us to the first question: How much does the song generate each year during the holiday season?
Estimates vary, but on the lower end, it's believed that Mariah earns around $600,000 in royalties from the song every December. On the higher end, this figure could go up to $1.2 million. Taking this range into account, it's reasonable to assume that "All I Want for Christmas" generates between $2 million and $4 million in royalties annually.
Typically, Mariah Carey garners an average of $3 million during the holiday season solely from "All I Want for Christmas Is You." However, this figure substantially increases during years when Carey engages in Christmas concerts and tours, as well as when she participates in holiday specials and product endorsements.
Using a conservative 30x multiple on the lower estimate of $2 million, the song is essentially a $60 million asset, with the majority ownership belonging to Mariah Carey and Walter Afanasieff. This substantial income adds to Mariah Carey's already impressive net worth of $350 million, making it clear why this song is truly a gift that continues to provide significant financial benefits.
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