Quote by Alan Philips

“For years, celebrities have had armies of people helping them craft very particular visions of who they are, which has generated tre- mendous value. For example, female teen stars are told to embrace a sexier image and take edgier roles as they get older, so their fans will begin to perceive them as adult actors and follow them as they move to the next level of their careers. Tom Cruise’s team carefully crafted his image for decades, which made him wealthy and pow- erful. Then one day he decided to go off script on Oprah’s show, jump on her couch, and make some controversial comments, which dented his carefully curated image, and cost him millions in future earnings. As the Huffington Post put it, “Though Cruise’s name isstill a big box-office draw, these days, he is better known for being an outspoken advocate for Scientology and for his public antics. The couch jump marked the first shift in Tom Cruise’s image away from the heartthrob he’d been.” Over time Cruise regained some of his lost cultural capital, but the impact was significant, and it’s a vivid example of perception impacting value.”

Quote by Alan Philips