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January 1, Actress Dives into Gin Business Amid Hollywood’s Declining Investment Of Filmmaking



Margot Robbie, star of the upcoming “Barbie” movie, recently launched her own gin brand, Papa Salt. In an interview with The Times, Robbie said, “This feels a lot more straightforward, it’s easier to predict things. You can lay this out on a spreadsheet in a way that you can’t lay out a movie idea.”

Experts believe celebrities are investing in brands and products due to the diminishing return on investment (ROI) of filmmaking. According to Steven Pesavento, CEO of VonFinch Capital, “Celebs are moving towards brand/product because they own ongoing equity and the ROI of filmmaking is going down the drain.”

Hollywood box office numbers are struggling, with May domestic grosses down 43% from the pre-pandemic average. Ted Jenkin, president of Exit Stage Left Advisors, says, “Although stars can earn millions of dollars making movies, the ultimate multimillion-dollar gig is owning your own business and using your star power to turn fans into clients.”

Many celebrities have invested in alcohol brands, such as George Clooney, Dwayne Johnson, Mark Wahlberg, Matthew McConaughey, Ryan Reynolds, and Cameron Diaz. Kara Schmiemann, senior director for Red Banyan PR, believes that “Celebrities are wising up and becoming savvy business moguls in their own right, developing and launching their own products instead of simply offering their names for a piece of the pie.”

Robbie was initially hesitant to enter the crowded market but expressed confidence in her product. She explained, “No one came to us with this idea or with money. We were never beholden to anyone.” Robbie hopes people will view Papa Salt as “five best friends’ gin,” referring to herself, her husband and producing partner, Thomas Ackerly, and friends Josey McNamara, Charlie Maas, and Regan Riskas.

Experts anticipate more celebrities will venture into food and beverage branding. Schmiemann notes that alcohol is “a smart choice as it appeals to anyone of legal drinking age, as opposed to a smaller and more niche demographic-specific product.”

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1 Comment

1 Comment

  1. TRM

    July 3, 2024 at 1:38 pm

    This is somehow of national significance?

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