Even Jimmy Buffett Never Expected He Would Turn A Single Song Into Billion-Dollar Franchise
Highlights
- Jimmy Buffett's music saw a massive spike on streaming apps upon his death, but his fans had never forgotten about him.
- Buffett was not only a musician but also a serious businessman, involved in various ventures that made him billions.
- The song "Margaritaville" was his most popular and profitable, spawning a mail-order business and earning him $26 million per year back in the '90s.
When Jimmy Buffett passed away, his music saw an unprecedented spike on music streaming apps, but the truth is, fans never forgot about the billionaire musician. Ever since he came on the scene in the 1970s, Jimmy had a massive following of fans who forked over cash for concert tickets, bought merch from his shows, and obsessed over the island lifestyle Jimmy always sang about.
For Jimmy, it was surreal, as he would often say in interviews, but it's clear that he lived a full and vigorous life doing all the things he enjoyed. Jimmy did have a bucket list of sorts when he passed away, and his death was mourned all over the world. Looking back, Buffett was ingrained in music culture and even spawned a culture of his own—one that surprised him by earning many millions per year.
"Margaritaville" Made Jimmy Buffett Millions Of Dollars
To most people, the name Jimmy Buffett was synonymous with 'island-hopping billionaire,' but it turned out that despite his appearance and tracklist, Jimmy was a serious businessman.
In a 1997 interview with Jimmy for 60 Minutes, it became clear that Buffett worked a lot, even if his labor wasn't always centered on a specific career track.
At the time of the interview, Jimmy was working on a Broadway show, but 60 Minutes' Steve Kroft also ran down a long list of other things Jimmy had done. From selling "Margaritaville" merchandise to opening two Margaritaville restaurants to writing books (both fiction and nonfiction and children's books, with the help of one of his daughters), Jimmy really was doing it all.
And all of this came two decades after his hit song came out, proving that Jimmy had the magic formula to keep fans coming back—and spending their money.
In 1997, Jimmy Buffett Was Pulling In Millions Per Year Thanks To "Margaritaville"
Most people know the song "Margaritaville," whether due to hearing Jimmy perform it or because of brand recognition with his restaurants. But many people don't know that the single song that propelled Jimmy to fame was actually released in 1977.
When "Margaritaville" debuted, it ranked highly on country charts and pop listings, though Jimmy apparently earned his own category of music later on called "tropical rock."
But 1977 wasn't the only year the song stayed on the charts, and more than two decades later, it was still making Jimmy a ton of money, a fact that surprised even him. A prolific musician, Jimmy Buffett released over 30 albums during his career (the final album Equal Strain on all Parts would be released after his death), but "Margaritaville" was always the most popular.
It was so popular that it spawned a mail-order business in the 1990s that pulled in $10 million, separately from the brick-and-mortar stores Jimmy established. At that point, Jimmy was raking in $26 million per year thanks to all his margarita-themed ventures.
During the interview, Jimmy Buffett admitted that he was a workaholic, though Steve couldn't nail down a particular job title. And most things Jimmy did for his career, he learned how to do by simply doing it.
It all started when he became the "leader" of his band as a teen because he was the only one "responsible enough" to have had credit at the music store. From there, Jimmy became the manager of that band and of his own career and success.
In 1997, he was selling out shows (over 30 of them) within 46 minutes of tickets going on sale. Jimmy's reasoning for why it all worked? He said, "I sell escapism."
Jimmy Buffett Wrote "Margaritaville" In Six Minutes
Speaking with Steve Kroft, Jimmy Buffett, back in 1997, told the interviewer that he never thought "Margaritaville" would catch on. He wrote the song in six minutes, by his own account, and "it was just another song going on the album."
Jimmy admitted that "never in my wildest dreams did I ever think it would do what it did."
Jimmy might not have anticipated that the song would make him one of the most famous musicians on the planet, but he did take care to capitalize on its popularity. While he said he appreciated his fans, the self-proclaimed Parrotheads, Jimmy also said that sometimes he thought they should really get a life.
Of course, he probably didn't say that to them at the time, especially during concerts with contemporaries like Kenny Chesney, Alan Jackson, and more.
At the same time, he recognized that he sold escapism, a product there was an endless market for. The popularity of Jimmy Buffett's music and products helped him earn a billion-dollar net worth, creating an impressive inheritance for his loved ones.
Not only that but Jimmy Buffett's estate is also said to bring in a billion to two billion dollars per year, meaning his family is set for life.
ncG1vNJzZmivp6x7tbTErZ%2Bippeoe6S7zGifqK9dosKktIydoJ1lnZa%2FqK3RoquarpmhuaZ5zJqinmWWpL9utsimpLJlkqqzp7HTrWY%3D