Most songs never get heard by many people and don’t make any money, some become hits and bring in the dough and help make stars, and then every once in awhile there comes along a track that has more earning power than some companies. Those songs are special, and they end up becoming much more than just music. Jimmy Buffett’s “Margaritaville” is one such song, and if that doesn’t surprise you, the amount of money it generates every year will.
The single is Buffett’s biggest hit to date, and the only top ten of his career. “Margaritaville” made it to number eight on the Hot 100 back in 1977, and it remains a fan favorite. In the decades since, the track has continued to sell well (for a catalog item), but its power has grown far beyond the chords and the melody. By this point, it might just be the most intensely merchandised song of all time. It isn’t strange that there are Margaritaville-branded mixes, tequila, or even beer and bar snacks, but the name has now been attached to so much more. There are Margaritaville restaurants, footwear, apparel and now, a chain of resorts is popping up.
Last year, the Margaritaville brand generated more than $1 billion in sales across all categories, and only a small fraction of that money comes from sales, streams, or plays of the song. The sheer number of products that now bear the now-famous song title is amazing, and the money keeps pouring in. With revenues like that, it’s entirely possible that “Margaritaville” has made more money than any other track in history.
Margaritaville’s success doesn’t come from the fact that the song was a hit back in the day, but rather from the feeling that the music and the lyrics convey. It has become a lifestyle, and one that an entire generation wants to be a part of. The song—and now the brand—are all about escapism, and a relaxed atmosphere. It’s very casual, and everybody is welcome. These qualities lend themselves naturally to a hotel, so it’s a bit surprising that the idea has only gained traction recently. The company just opened a new location last fall in Hollywood, Florida, and everything about the place exudes Margaritaville, from the location (on the beach, of course), to the flip flops and t-shirt-wearing crowd to the decor.
While many hotels aim to be the trendiest or the most luxurious, Margaritaville bucks the trend and is fine being mellow and chill, though that’s not to say that the place wasn’t designed to look nice. That is coincidentally exactly what the resort’s target demographic is looking for. These are slightly older people who have disposable income, and who want to do something fun for their getaway. A visit to Margaritaville is supposed to be a party, but a laid back one, and that’s what the new property intends to provide.
The new Hollywood location may have just opened, but the company is already scouting locations for the next resort. Soon, Orlando will become the fifth city in America to have its own Margaritaville hotel, joining Pensacola, Bossier City, Pigeon Forge, and of course Hollywood. With resorts and hotels now a part of the ever-growing Margaritaville brand portfolio, that $1 billion figure is sure to become larger as well, as there seems to be almost no limit to what that one breezy tune can sell.
Article source: http://www.buffettnews.com/2016/03/17/25644/