Please use this identifier to cite or link to this item: http://hdl.handle.net/10419/195424
Authors: 
Gaenssle, Sophia
Budzinski, Oliver
Year of Publication: 
2019
Series/Report no.: 
Ilmenau Economics Discussion Papers No. 123
Abstract: 
We review the economics of superstars, originally developed for stars in traditional media, and discuss whether they are applicable for the (allegedly) novel phenomenon of stars in social media (influencer, micro-celebrities). Moreover, we analyse potentially new factors for creating social media superstardom that may be special to the nature of social media. Our overall result is that the economics of superstars, like the role of talent, market concentration effects, MacDonald-style and Adler-style effects, remain applicable and relevant for social media stars. In line with this assessment, we find that several (allegedly) new star factors in social media, like user-generated content, prosumption, disappearance of gatekeepers and authenticity, turn out to be only partly applicable or just slightly different to traditional concepts. However, algorithm management and upload strategies represent novel success factors relevant for social media superstardom that are not captured by traditional superstar theories.
Subjects: 
social media
digital media
popularity
superstars
cultural economics
media economics
influencer
micro-celebrities
creators
user-generated content
prosumer
algorithm management
YouTube
Instagram
entertainment markets
JEL: 
L82
Z10
L13
L15
L86
D43
D83
F23
M21
D91
L26
Document Type: 
Working Paper

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