Jason Derulo, a popular singer known for his hit songs and viral videos on TikTok, says he now sees himself more as a businessman than a musician.
According to the singer of Savage Love, his most recent investment, a US car wash chain, is his least "sexy" one.
The membership model reminded me of what Netflix and Uber did, so I took a chance on it, Derulo told the BBC.
For a monthly subscription, Rocket Car Wash provides unlimited car washes.
However, he is investing his money in a variety of business ventures.
He said on the BBC World Service podcast Business Daily, "Normally I'd describe myself as an entertainer, but I feel like that has changed.". "I'm not sure I can say entertainer anymore. Modern life is business. ".
Derulo claims that he only invests in companies that he is familiar with. These companies have included the fitness center Rumble Boxing, the upscale eatery Catch LA, and the BBC reality program "Project Icon," which he hosts.
Of course, he's not the first musician to try their hand at business.
Beats became synonymous with stylish headphones after Dr. Dre, an American rapper and record producer, founded his electronics company in 2006.
Dolly Parton, an American country music performer and songwriter, has a more unusual side business: theme parks. The complex in her hometown, renamed Dollywood, generates hundreds of millions of dollars annually.
Others have invested money in businesses that serve food, drink, and provide entertainment.
According to Alice Enders, head of research at Enders Analysis and Media, diversifying is a wise choice because musicians' careers can be fleeting.
She asserts that diversification is the best thing a musician can do. "You have something to fall back on if your music career starts to suffer. ".
Derulo has already experienced this to be true. When he was let go by his record label, Warner Bros., in 2019, he faced a career fork in the road.
When he ran out of ideas, he chose to try TikTok. Within a few months, he had amassed more than 50 million followers, making him one of the most well-liked creators on the short-form video app.
He continued to make money through music, but in a totally different way.
Before social media, record labels were the main source of promotion and distribution for musicians. However, thanks to TikTok's "trending sounds," musicians can use the app to reach fans directly.
As a result of being featured in more videos and having a higher profile within the app, a song that becomes popular on TikTok is frequently promoted on the platform's primary video website.
During the pandemic, when performers had to cancel all shows and fans were spending more time on screens, TikTok experienced an unprecedented surge in popularity.
Some musicians, like the British singer PinkPantheress, used the platform to launch their careers and catch the attention of record labels. For Derulo, however, it was a chance to refocus his career.
According to Derulo, "I feel like TikTok started it off for me, it broke me out of a box that I was in.".
However, TikTok might not last indefinitely. In recent months, there have been efforts in the US, Europe, and Canada to restrict access to TikTok, citing security threats from the Chinese-owned company. Social media trends come and go. India has already banned the app.
The Chinese company ByteDance, which owns TikTok, was ordered to sell the app by the US government in March or risk a potential total ban in that country as well.
Derulo says he is not worried about that eventuality, though.
"I would hate for it to happen but, honestly, I stay on my toes. I'm prepared for anything. If it goes away, I think there are a lot of apps out there. " .
He advises anyone who wants to follow in his footsteps to diversify, and he endorses that approach.
"If you're making one kind of content all the time, people might get tired of it. Giving more of yourself is crucial, in my opinion.
"I think going for one specific thing, you're kind of selling yourself short. We are all multi-dimensional, we all have a lot to offer. ".
You can hear the full interview with Jason Derulo on Business Daily on . BBC Sounds.
Additional reporting by Carmel O'Grady and Ez Roberts.
