How Much Do The Sharks Get Paid?
This is a very good question that seemingly would become more lucrative for all the Sharks as each successful season. No doubt after each season the Sharks are more than eager to re-negotiate their contracts. If memory serves me correctly, it was Mark Cuban who said the Sharks make around $25,000.00 per episode a few years ago. I would imagine there's more than a few perks going along with a paycheck, but even then, are the Sharks "really" making money directly from the Show, or does it cost them?
The answer to this question can only be answered by the Sharks themselves that Daymond John replies in this video below. Obviously, Daymond was talking about when the Shark Tank was an unproven business model when making a financial decision to appear on the show. Why would he turn down multiple TV appearances's being profitable upfront for a chance to appear on a show that would cost him a minimum seven figures the very first year?
In the short term it didn't seem like a wise business decision getting involved with a Reality TV Show that wouldn't even cover his expenses, so Daymond first turned this opportunity down. Fortunately, Mark Burnett (the producer of the Shark Tank) was persistent and convinced Daymond John this would be a fantastic long-term Brand Building Investment.
The video below is one of the best interviews with Shark Daymond John in a relaxed atmosphere while enjoying a little sports fishing. The entire video is worth watching if you're a Daymond John Fan as he talks about when FUBU was just a dream all the way up to its present success. It's at approximately 15.55 of this video when John goes into detail what it took Mark Burnett to sign him up on the Shark Tank and how much it "really" cost to be on the Show.
How much does it "Cost the Sharks" to be on the Shark Tank Show?
According to Daymond, it costs between $1 - $5 million per Season for him to be on the Shark Tank Show. I'd love to know what the other Sharks spend above and beyond what they make per episode. (not including investments made on the Show) But it's safe to say Daymonds "investment" would be consistent for all the Sharks on the Show.
Sharks Get Raise on the Shark Tank ShowThis article "How Much Do The Sharks Make?" was started a few weeks ago, but never completed until now. It covers Daymond's perspective how much it costs the Sharks to appear on the Show, but what do the other Sharks have to say about this matter? Obviously, there's several hidden costs's such as the teams of professionals all the Sharks need in place to handle this many financial deals, not to mention the personal time commitment devoted to the success of each new product.
Business Insider just published an article that if true, reveals at least Mark Cubans Shark Tank salary increased $1200.00 per episode between seasons 5 and 6. Cuban will also get another raise of $1288.00 per episode in Shark Tank Season 7 bringing the total to $32,488.00 per episode. It also says Kevin O'Leary makes a reported $30k per episode, so apparently, however minor; Mark Cuban is the highest paid Shark per episode on the Show.
As far as I'm concerned the Shark Tank Show is the Best Show ever seen on television. Each and every Shark brings a unique business perspective to every new product or business opportunity, and this Show's Success is a direct result of their Success.
Few other weekly programs have ever achieved Shark Tank's level of success especially in the national ratings, so why isn't the Sharks compensation keeping up with demand? There must be a good reason why these powerful business negotiators have not negotiated contracts similar to their peers on other Successful Prime-Time T.V. Shows.
Take, for instance, the five Actors on the Friends Show. Each Star made a reported $1 million per episode that's equivalent to what one Shark earns in an entire Season. Even the three Characters on the Big Bang Theory now earn a cool million dollars each per episode, which isn't nearly as entertaining or educational as the Shark Tank Show.
Personally, I'd give them all Shark-sized raises, so they have additional "spendable" capital to invest during the Show. It certainly sounds like a win-win-win strategy benefiting all parties involved.