How has Beyoncé remained consistently popular for so many years in the cut-throat music industry? Andrew Harnik / AP Photo
How has Beyoncé remained consistently popular for so many years in the cut-throat music industry? Andrew Harnik / AP Photo

The soft power of Hollywood is, in fact, pretty mushy



The biggest box office stars don’t always hail from the US, they come from other places, too.

The best way to understand anything in Hollywood, a wise old producer once told me, is to check the numbers first.

So, here are some numbers: Beyoncé, the internationally famous and quite possibly most talked-about woman in the world, has about 14.7 million Twitter followers. She’s ranked at, roughly, the 119th most popular person on Twitter.

Shakira, the Colombian-born pop star, has a whopping 45.2 million Twitter followers. She’s about 18th on the Twitter popularity scale.

For reference, Donald Trump, the American-born star of reality television, hotel and resort real estate transactions, and other assorted career accomplishments, has about 31 million Twitters followers and ranks at about 34th on the popularity scale.

In other words, you’d have to add Beyoncé’s Twitter following to Donald Trump’s Twitter following to edge out Shakira. This may or may not be significant, but it’s a useful measure of the lopsided attention American entertainment businesses pay to American celebrities. Beyoncé garners endless column inches of newsprint and paparazzi enthusiasm. Shakira, in the United States anyway, not so much. (Donald Trump is another matter.) At an investors’ conference years ago, I appeared on a panel entitled “The Soft Power of Hollywood”. It may have been called something else equally futile – at a certain point, my memory gets fuzzy – but what I remember more clearly than the blandly meaningless title was the moment when a fellow panellist, an American media executive, breathlessly reminded the audience that American movie stars were the “most popular” and “most famous” people on Earth.

Which isn’t quite true, as I reminded him. The most famous and most popular movie stars on Earth – if you’re going by the sheer number of human beings who watch their films – are indisputably Indian. It’s Bollywood, not Hollywood, that really packs in the audiences. Cinemas and DVD players across the globe flicker with images of Shah Rukh Khan, Amitabh Bachchan, Deepika Padukone and the rest of the Bollywood constellation of box office champions. This is not to say that American movie stars aren’t popular or famous -- just that the near-monopoly in the manufacture and marketing of famous stars that Hollywood has enjoyed for almost a century is no longer in effect.

The Hollywood executive on the panel smiled thinly when I said this. “That’s a good reminder, thanks,” he said in a tone that conveyed zero thanks. In retrospect, it might have been a smarter career move to have delivered this “good reminder” in private. But my feeling is, if you’re on a stupid-sounding panel at a pointless conference, the least you can do is deliver some drama.

Smart celebrities with a strategic grasp of international entertainment markets don’t need to be reminded of the new ways of Hollywood. Almost 10 years ago, Beyoncé (it always comes down to Beyoncé, have you noticed?) released a duet with Shakira – a blend of Latin, American and even Arabic musical styles. The song, Beautiful Liar, went on to become a smash hit for both singers. But more importantly, it was a crossover opportunity for Beyoncé, and allowed her to reach a worldwide audience. Beautiful Liar is a first-rate pop song (if your taste runs to that sort of thing) but it’s more remarkable as a shrewd and far-seeing business move. As old Hollywood producers say, when you want to know what’s happening in Hollywood, check the numbers first.

A week or so ago, Justin Bieber, perhaps the most annoying (but hugely talented) Canadian who ever lived, released his own Beautiful Liar-style gambit. His song, Despacito, is a clear attempt to break into the Latin American and Spanish-language market. It’s a remix of a Daddy Yankee and Luis Fonsi song, and I won’t pretend I know who those two people are if you promise not to pretend that you do, either. The salient point here is that by remixing a popular Latin American song, Justin Bieber has broadened his audience base and reminded American entertainment executives that there’s a big, wide world out there. His reminder, it must be admitted, is a lot more bouncy and danceable than mine was, all those years ago at a conference. But the message is the same.

Unfortunately for Bieber, he went a step past Beyoncé and actually sang the song in Spanish, which is a language he is not proficient in. We know that because a few days ago, at a concert in New York he forgot the lyrics – which, mostly, involve his singing only the word “despacito”. And this isn’t the first time. In April, he sang the song in front of a Spanish-speaking audience in Puerto Rico and again forgot the lyrics, replacing them with a combination of “blah blah blah”, “I ate the burrito”, and “I don’t know the words so I say Dorito”.

There are better ways to charm a Spanish-speaking audience. There are better ways – Beyoncé ways – to reach across borders and amass a larger audience. At some point, even Hollywood executives won’t need to be reminded that movie stars and pop stars and hit songs come in many nationalities and many languages. As always, check the numbers first.

Rob Long is a writer and producer in Los Angeles

On Twitter: @rcbl

Mercer, the investment consulting arm of US services company Marsh & McLennan, expects its wealth division to at least double its assets under management (AUM) in the Middle East as wealth in the region continues to grow despite economic headwinds, a company official said.

Mercer Wealth, which globally has $160 billion in AUM, plans to boost its AUM in the region to $2-$3bn in the next 2-3 years from the present $1bn, said Yasir AbuShaban, a Dubai-based principal with Mercer Wealth.

Within the next two to three years, we are looking at reaching $2 to $3 billion as a conservative estimate and we do see an opportunity to do so,” said Mr AbuShaban.

Mercer does not directly make investments, but allocates clients’ money they have discretion to, to professional asset managers. They also provide advice to clients.

“We have buying power. We can negotiate on their (client’s) behalf with asset managers to provide them lower fees than they otherwise would have to get on their own,” he added.

Mercer Wealth’s clients include sovereign wealth funds, family offices, and insurance companies among others.

From its office in Dubai, Mercer also looks after Africa, India and Turkey, where they also see opportunity for growth.

Wealth creation in Middle East and Africa (MEA) grew 8.5 per cent to $8.1 trillion last year from $7.5tn in 2015, higher than last year’s global average of 6 per cent and the second-highest growth in a region after Asia-Pacific which grew 9.9 per cent, according to consultancy Boston Consulting Group (BCG). In the region, where wealth grew just 1.9 per cent in 2015 compared with 2014, a pickup in oil prices has helped in wealth generation.

BCG is forecasting MEA wealth will rise to $12tn by 2021, growing at an annual average of 8 per cent.

Drivers of wealth generation in the region will be split evenly between new wealth creation and growth of performance of existing assets, according to BCG.

Another general trend in the region is clients’ looking for a comprehensive approach to investing, according to Mr AbuShaban.

“Institutional investors or some of the families are seeing a slowdown in the available capital they have to invest and in that sense they are looking at optimizing the way they manage their portfolios and making sure they are not investing haphazardly and different parts of their investment are working together,” said Mr AbuShaban.

Some clients also have a higher appetite for risk, given the low interest-rate environment that does not provide enough yield for some institutional investors. These clients are keen to invest in illiquid assets, such as private equity and infrastructure.

“What we have seen is a desire for higher returns in what has been a low-return environment specifically in various fixed income or bonds,” he said.

“In this environment, we have seen a de facto increase in the risk that clients are taking in things like illiquid investments, private equity investments, infrastructure and private debt, those kind of investments were higher illiquidity results in incrementally higher returns.”

The Abu Dhabi Investment Authority, one of the largest sovereign wealth funds, said in its 2016 report that has gradually increased its exposure in direct private equity and private credit transactions, mainly in Asian markets and especially in China and India. The authority’s private equity department focused on structured equities owing to “their defensive characteristics.”

What is a calorie?

A food calorie, or kilocalorie, is a measure of nutritional energy generated from what is consumed.

One calorie, is the amount of heat needed to raise the temperature of 1 kilogram of water by 1°C.

A kilocalorie represents a 1,000 true calories of energy.

Energy density figures are often quoted as calories per serving, with one gram of fat in food containing nine calories, and a gram of protein or carbohydrate providing about four.

Alcohol contains about seven calories a gram. 

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Star rating: 2/5

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Name: Abeer Al Shahi

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Education: Master’s degree in special education, preparing for a PhD in philosophy.

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Our Time Has Come
Alyssa Ayres, Oxford University Press

RESULTS

6.30pm: Handicap (rated 100 ) US$175,000 1,200m
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COMPANY PROFILE
Name: Kumulus Water
 
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Based: Tunisia 
 
Sector: Water technology 
 
Number of staff: 22 
 
Investment raised: $4 million 
Other acts on the Jazz Garden bill

Sharrie Williams
The American singer is hugely respected in blues circles due to her passionate vocals and songwriting. Born and raised in Michigan, Williams began recording and touring as a teenage gospel singer. Her career took off with the blues band The Wiseguys. Such was the acclaim of their live shows that they toured throughout Europe and in Africa. As a solo artist, Williams has also collaborated with the likes of the late Dizzy Gillespie, Van Morrison and Mavis Staples.
Lin Rountree
An accomplished smooth jazz artist who blends his chilled approach with R‘n’B. Trained at the Duke Ellington School of the Arts in Washington, DC, Rountree formed his own band in 2004. He has also recorded with the likes of Kem, Dwele and Conya Doss. He comes to Dubai on the back of his new single Pass The Groove, from his forthcoming 2018 album Stronger Still, which may follow his five previous solo albums in cracking the top 10 of the US jazz charts.
Anita Williams
Dubai-based singer Anita Williams will open the night with a set of covers and swing, jazz and blues standards that made her an in-demand singer across the emirate. The Irish singer has been performing in Dubai since 2008 at venues such as MusicHall and Voda Bar. Her Jazz Garden appearance is career highlight as she will use the event to perform the original song Big Blue Eyes, the single from her debut solo album, due for release soon.

Why seagrass matters
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  • Biodiversity: Support species like sea turtles, dugongs, and seabirds
  • Coastal protection: Reduce erosion and improve water quality
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Name: Atheja Ali Busaibah

Date of birth: 15 November, 1951

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Super Bowl LIII schedule

What Super Bowl LIII

Who is playing New England Patriots v Los Angeles Rams

Where Mercedes-Benz Stadium in Atlanta, United States

When Sunday (start time is 3.30am on Monday UAE time)

 

The biog

Favourite car: Ferrari

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Best movie: Avatar

Academic qualifications: Bachelor’s degree in media production from the Higher Colleges of Technology and diploma in production from the New York Film Academy