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Punk Rock bands are often judged by their image and aren't given the credit they deserve when it comes to their ultimate level of success. It may not be immediately visible amid the grunge look and the seemingly disheveled surroundings, but there's a lot of careful crafting that is involved in the success of a punk rock band, and millions of dollars are generated in the mix. In fact, punk rock bands are quietly raking in huge profits, and are able to sustain their seemingly low-key presence without bringing much attention to the massive income that is being made behind the scenes. Stock Investor reports that there is a formula for success, and once it's achieved, financial success is practically guaranteed.
The Cult-ure
Punk Rockers don't just appear as a band on stage, they explode on the scene and make their presence known. The world of punk is portrayed as an aggressive, authoritarian movement that commands their audience with powerful messaging. It gives a voice to those feeling disengaged from their ability to make change, and fed up with their current state of affairs. Punk rock gives power to those with issues that need to be heard and addressed. It inspires a culture, encourages a movement, and quite simply, generates a cult-like following that will spend their money in support of the band that shares their cause.
Punk rock breaks status quo, and encourages the independent artists to shine.
Shock-Value Messaging
Punk rock really started to take form min the 70s with the rise of fame of the Ramones and the Sex Pistols. The highly manufactured, strategically curated bands took control of the music scene with their bad behavior and eagerness to move against the grain of the government. They encouraged people to break free from the confines imposed by society, and in order to do this, they played on the shock value of their messaging.
The impact on their fans was immediate, and their impact was profound. Each song served as an opportunity to elicit a response from their audience.
The All Important Image
The careful crafting of a punk rock image is everything. The most classic example is that of Sid Vicious, the bassist from the Sex Pistols. He had no actual capability to play the bass, but was hired for his look and his ultimate marketability as a punk rock artist.
As stated by Howland Echoes, Sid "was purely in the band due to his aesthetic and attitude, helping to propel and sell the image of the ‘punk’ to everyone else.'
The Big Money Shift
Punk music created a new way of recording and distributing music and shifted away from the larger music companies. Small labels began to distribute albums through independent retailers and DIY record labels were crafting marketing strategies that allowed them to promote punk music while earning a huge profit. Subscription based fan newsletters became prominent, and Howland Echoes states that; "what started out as a small community soon grew into an untapped commodity. The small labels were thriving in the punk rock scene and major labels finally cottoned on to its marketability and earning potential. A new market was available to them that was almost entirely related to the youth of the decade. Major labels began to sign up every punk band they thought they could make money from."
There was big money to be made by using gimmicks to attract consumers, and major labels wasted no time getting on board with what the smaller players had started to do. Gimmicks quickly became the key element to promoting and creating profits from a punk rock band. “Limited editions, coloured vinyl, picture bags, 6 inch singles, 12 inch singles, 10 inch albums, 45 rpm ‘albums’, scratch ‘n’ sniff sleeves etc. etc. was the sign of punk rock. It proved of supreme importance to the corporate entertainment industry as an exercise in marketing research and development.”
Earning Millions From Licensing
The punk rock era has certainly evolved over time, and now, punk rockers are making millions by licensing their music. Commercial licensing has been the key element used to generate significant amounts of money. In spite of the fact that it is considered to be 'selling out' in some ways, the fact remains that commercial licensing opens the doors for millions of dollars worth of profit that was previously never explored.
Advertisements, films, and commercials are all avenues in which commercial licenses are sold, making bands like The Misfits, Blink 182, and Good Charlotte a whole lot of money.
Examples Of Punk Rock Millionaires
There's no better proof of the big money in punk rock than to look at the bands that have taken the formula and proven that it works.
The culture, the image, the gimmicks, the licensing... the money.
The average fan would be stunned to learn just how many punk rock bands out there have raked in millions of dollars and continue to live a very unassuming, under-the-radar lifestyle.
Perhaps the most obvious success story is that of Travis Barker, who saw his career soar to new heights with Blink 182, and then moved on as a solo artist to acquire an $85 million net worth. Other notable punk rock stars that are worth millions include Dexter Holland of the Offspring that has earned $65 million, and Billie Joe Armstrong from Green Day, who sits atop a cool $55 million fortune.
Sources: Stock Investor, Howland Echoes, Idiotech