What is celeb economy?

As an AI language model I do not have personal views or opinions, but I can provide information and definition about the term "celeb economy".

The term "celeb economy" refers to the economic value generated by celebrities. The concept is rooted in the idea of celebrity industrial complex, which encompasses the range of industries and businesses that cater to, or derive value from, celebrity culture. The celeb economy includes industries such as fashion, cosmetics, music, film, television, sports, and social media, among others.

Celebrities have the power to attract attention and influence consumer behavior, making them valuable assets for businesses. The celeb economy is driven by the consumer demand for products and services associated with celebrities, such as limited-edition fashion collaborations or celebrity-endorsed beauty products.

In recent years, the celeb economy has expanded exponentially due to the rise of social media and the increased ability of celebrities to directly connect with fans and promote products. According to a report by DMR, the estimated worth of the global celebrity endorsement industry was $1.5 billion in 2020. However, the celeb economy has also faced criticism for its shallow and superficial values, as well as for perpetuating unrealistic beauty and lifestyle ideals.