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The Economics of Mariah Carey's "All I Want for Christmas..."
Your 2-Minute dose of Genius!
Sika Republic
December 19, 2023
With the holidays upon us, it's time to dust off those Christmas classics. An undoubted staple is Mariah Carey's "All I Want for Christmas Is You." It's been around for over 25 years, and it continues to top the charts year after year. So, why has this Christmas song become so popular? It turns out that the economics behind the song play a significant role in its success.
So, let's dig into the money behind this Christmas fave!
Streaming Revenue
While the royalties paid by streaming platforms to artists are significantly lower than traditional physical sales, according to Forbes, "All I Want for Christmas'' generates around $600,000 in monthly streaming royalties during the holiday season. This song alone generates about $7 million per year in streaming revenue for Mariah Carey!
Marketing
Marketing is a crucial aspect of any successful product, and "All I Want for Christmas" is no exception. Mariah Carey's team has ensured that the song is everywhere during the holiday season, from radio stations to advertisements. This year Mariah kicked off #MariahSZN at precisely 12:01 on November 1st, as soon as Halloween ended, by being defrosted out of an ice block and with her signature high pitch tone announcing, “It’s time!!!!”
Covers and Remixes
The popularity of "All I Want for Christmas" has led to covers and remixes from artists such as Justin Bieber, Ariana Grande, and Michael Bublé. These versions of the song contribute to its overall popularity and revenue, as they bring in new audiences and generate more streams. For example, Justin Bieber's cover of the song generated over 1 billion streams on Spotify.
Concerts and Merchandise
The popularity of "All I Want for Christmas" has led to Mariah Carey performing the song during her Christmas concert series, which has generated millions in revenue. Additionally, the song has become so popular that it has its own line of merchandise, including t-shirts, socks, and ornaments, which contribute to the song's overall revenue.
The economics behind Mariah Carey's "All I Want for Christmas" are fascinating and have contributed to the song's immense success. The combination of streaming revenue, marketing, covers and remixes, as well as concerts and merchandise, have helped make this song a timeless classic and a lucrative source of revenue for Ms. Carey.
Today’s Takeaway:
As we continue to crank up this timeless holiday treasure, let's take a moment to appreciate the thought and strategy that went into its creation and continued success, and remember… success doesn’t often come by accident!