Chance The Rapper Net Worth: 8 Secrets Of His Success
Born in Chicago Illinois, this musical artist broke into the music industry back in 2011 with his mixtape ’10 Days’.
But without having sold a physical album and without being attached to any record labels, Chance the Rapper has racked up a pretty healthy bank account. And we’re taking a look at just how he’s done it.
What Is Chance The Rapper’s Net Worth?
Secrets Of His Success
#1 Social Media
Instead of selling his music through the more traditional channels, Chance uses his popularity and status to cash in on tours or personal endorsements.
His money comes from appearing at festivals and concerts as well as bagging deals with widely-known brands such as Apple and Kit Kat.
He is one of the best examples of how to become famous using social media and the internet in the digital age that we currently live in.
#2 Using Different Genres
Yes, he might be called Chance The Rapper but using the genres of jazz, hip hop and gospel music in his rap albums and rap performances has increased his media exposure and therefore his profits.
Collaborating with different musicians has also increased his popularity.
In 2016, Chance featured in ‘The Life of Pablo’ by Kanye West. He even wrote a few songs on his album including ‘Famous’ and ‘Waves’.
#3 He Is Not Signed To Any Record Labels
Not being signed to any labels or companies means that Chance keeps the majority of the money he earns to himself.
That being the case, it’s easy to understand why his bank account quickly racked up.
Spotify pays between $0.006 and $0.0084 per stream of a song.
Chance has more than 9 million listeners on Spotify so if each one listened to one of his songs once, he would earn $55,000 and $75,000.
10 songs would make him between $550,000 and $750,000.
#5 Apple Music
Chance gave Apple Music exclusive rights to his album “Coloring Book” for the $500,000 for the first few weeks of its release.
Despite this earning him a bit of criticism from fans as it’s release on SoundCloud was delayed, he responded by saying you have to make profit where you can.
As Apple only owned the rights for a few weeks, Chance disputed the claims that he was ‘selling out’.
Image Source/College Candy
#6 Concerts & Merchandise
Tickets of his Be Encouraged Tour made him $500,000 for 2 day performances. In some cities, that total upped to $750,000 and with the tour making 48 stops, he certainly racked up a few dollars.
As companies are keen to drop people if their reputation falters, Chance has limited the potential loss by endorsing himself.
He is the club ambassador for the Chicago baseball team, the White Sox which despite not gaining him a lot of cash, does give him a lot of followers.
Chance also has more corporate endorsements. He is affiliated with the likes of Docker’s, H&M and Nike.
Many high profile brands sponsor Chance.
However, it is his focus on social causes which gains him the most success.
Being active in public education, founding the Social Works organisation and providing the homeless with coats for winter has given him an extremely popular image.
Chance also had the #ThankUObama clothing line which he created to pay respect former president Barack Obama.
Chance’s Best Quotes
“Some people are so poor, all they have is money.”
“Depending on the story that you’re telling, you can be relatable to everybody or nobody. I try and tell everybody’s story.”
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“Something I try to instill in others is to just be a good person. It’s a decision you make a million times a day. But if you just keep trying, good stuff comes to you in an ordained way.”