Net Worth
ByGarrett ParkerPosted onUpdated on
Over the last several years, rapper, Future, has found himself in the spotlight for a number of reasons — many times for the wrong reason. One of the most chronicled situations was the manner in which he responded to his ex, Ciara, dating, becoming engaged and eventually marrying Seattle Seahawks quarterback, Russell Wilson. From all accounts, Future took some major hits to his image during this time. There have also been endless rumors about drug use. Yet, despite all of the negative publicity, Future has managed to achieve a net worth of approximately $8 million.
While future might struggle in the area of chivalry and romance, it appears he has a rather astute business mind. While comedians and lay people were taking shots at him based on the rumors surrounding his relationship Ciara, Future was laughing all the way to the back as he spun the coverage and used the energy to push sales. According to Forbes, the artist streamed his way to more than $25 million in 2017, which leads me to wonder why he is only valued at $8 million. Of course, there are costs, expenses, and taxes that immediately subtract from your bottom line, but it is a long way from an annual return of $25 million to a net worth of $8 million.
What happened to the money he earned before his big push in 2017? Future also performed at a reported 70-plus show between June 2016 and June 2017, which is believed to have constituted just 30 percent of the overall revenue generated during that same period.
Where most music artists rely heavily on touring and performing at live events, Future has scaled back his touring and focused on the use of streaming technology and online marketing and promotions to move his music in volume. He is cashing in on technology
Future is among a rising number of new artists who are celebrating a new era in music where streaming will soon be king. More importantly, the rap genre literally rules the streaming industry, In fact, more than 50 percent of the artist that stream their music through major distribution channels were rap artists. This approach to distribution has completely changed the game and placed far more control in the hand of the artist.
Capitalizing on the insatiable appetite of streamers online, Future has declared himself a streaming pioneer. He is also experimenting with the break from tradition that demands a significant break between releases. In February of this year, he released two albums within one weak of each other. The strategy worked as the artist scored back-to-back number one debuts. He is the first artist in the history of the Billboard 200 to accomplish this feat.
According to Future, the idea is not to be a trendsetter but to be a trailblazer. If you are wondering how well Future is doing when it comes to streaming his music, he logged 1.2 billion on-demand video streams during one scoring period, which makes him the most watched rapper on the planet. I am not sure how this makes some of the more notable performers like Jay-Z and Eminem feel, but it appears that Future is on cruise control.
With streaming quickly becoming the primary way that people consume music, Future has positioned himself to ride the wave of streaming all the way to massive financial success — not to mention the success he is experiencing in the world of music.
No matter how people feel about the manner in which he treated Ciara when they were a couple, he is proving that he has something to offer to the fans of his style of rap music. There are some who believe that he will not have the staying power of the likes of J. Cole and Kendrick Lamar, and that is yet to be seen. One thing is clear, and that is that this kid is hot right now and that he plans how getting everything out his moment that he can while it lasts.
Future is not the only one. Chance the Rapper has achieved the No. 5 ranking, earning $33 million, and he has done this without even officially releasing an album. Newcomer, Lil Yachty has grabbed the No. 20 spot pulling in $11 million. While it is obvious that Future has multiple streams of income, the vast majority of his net worth is coming from his music streams.
