The business genius of Travis Scott: How the rapper built a nearly $40 million net worth through music and lucrative partnerships with brands like Nike and McDonald’s
September 15, 2020Allana AkhtarUncategorizedComments Off on The business genius of Travis Scott: How the rapper built a nearly $40 million net worth through music and lucrative partnerships with brands like Nike and McDonald’s
Travis Scott is a singer, lyricist, and producer who collaborates with brands across food, fashion, and entertainment.
Rapper Travis Scott has many talents. He writes, produces, and performs music, with notable hits like "Sicko Mode" and "Antidote." Scott also has his own record label, Cactus Jack Records.
Beyond the music industry, Scott has designed clothes and shoes, collaborating with major brands like Nike.
In April 2020, Scott hosted a series of free virtual concerts on the popular video game Fortnite. Over 27 million fans tuned in and the three-day event led to a massive boost in Cactus Jack merch sales, Forbes reported.
Most recently, Scott partnered up with McDonald's to create the $6 Travis Scott meal — a Quarter Pounder with cheese, bacon, and lettuce, and medium fries with BBQ Sauce, and a Sprite. McDonald's released the meal on September 8 and it will be available until October 4.
Business Insider obtained a survey of more than 700 members of McDonald's independent National Operators Association stating that many franchisees opposed the deal because of some of Scott's more explicit lyrics.
"His ability to kind of see where culture is going and have a hand in where culture is going is really unique," Flatley said.
Here's how Travis Scott built his brand and makes his fortune.
Musician Travis Scott has an estimated net worth of about $39.5 million, per Forbes. His revenue comes from a combination of producing music and merch, touring, and partnering with major brands like Nike and MLB team Houston Astros.
Scott grew up in Houston, Texas. He comes from a family of musicians and has been involved with music since high school. He attended the University of Texas at San Antonio for two years before dropping out to focus on his career.
Scott signed with Epic Records in 2012 and released his debut album, "Rodeo", in 2015. In 2016, he released "Birds in the Trap Sing McKnight," followed by "Astroworld" in 2018. His 2019 Astroworld tour grossed $53.5 million.
The collaboration includes Scott's new McDonald's-inspired merchandise under his label, Cactus Jack, custom t-shirts for employees, the $6 Travis Scott meal, and a new advertisement featuring Scott and his version of the fast-food chain's signature jingle.
While Scott's deal is the fast-food chain's first celebrity meal deal since Michael Jordan's 1992 McJordan burger, it's certainly not Scott's first partnership. Scott has made deals with brands across fashion, food, and entertainment.
In April 2020, Scott held a concert series within the video game "Fortnite." More than 12 million players watched the first night. While the concert was free, the virtual Scott-themed merch in the game was not. Billboard predicts that with a typical revenue share between Fortnite and Scott, he likely made about $2.5 million from virtual merch sales.
Scott collaborated with minimalist fashion brand Helmut Lang in January 2017 to design clothing. This capsule collection contains 19 pieces, including shirts, shoes, denim, and jackets ranging from $175 to $1,715.
The producer and performer has been nominated for seven Grammy's since 2013. In 2018, Scott's "Astroworld" sold 270,000 copies and 349 million streams. Two years earlier, "Birds in the Trap Sing McKnight" sold 88,000 copies during its debut week.
In 2019, Scott received backlash for performing at the Super Bowl following Colin Kaepernick's NFL protests. In partnership with the NFL, Scott donated $500,000 to Dream Corps, a nonprofit organization, and other initiatives.
Scott spends a significant chunk of his fortune on real estate. He purchased a $23.5 million mansion in Los Angeles' Brentwood neighborhood, Variety reported in June 2020. In 2016, he bought a house for his parents in Houston.