New Study Says Drake Is Worth $3 Billion to Toronto
Since bursting onto the scene with Young Money, Drake has always represented his hometown of Toronto... and has helped bring in a lot of money to the 6.
According to a study by ZenithOptimedia (via The Toronto Star), the rapper's endorsement of the city is worth a cool $3 billion.
The number was estimated by taking a number of elements into consideration, including Drake's YouTube views, his 32.5 million Twitter and 23 million Instagram followers, and his appearances in the media, such as his recent appearance on Saturday Night Live, during which he referenced Toronto throughout.
"Drake’s cool factor is not for sale and the minute it is, that value will drop," said Kristine Lyrette, president of ZenithOptimedia, a Toronto media buying agency. "Genuine and sincere intention is half the battle in gaining trust with the public."
ZenithOptimedia calculates that it would cost around $300 million to replicate the impressions of Drake's Toronto mentions with a conventional advertising buy. However, because Drake's Toronto shoutouts come from a point of authenticity, it resonates more with listeners. He is also an "A-list celebrity who is a huge influencer on other A-list celebrities who admire him," so the figure is multiplied by 10 to arrive at $3 billion.
Toronto has never been put on for them like Drake has put them on.