Reese Witherspoon’s Hundred Million Dollar Book Club
One of the smartest businesswomen in Hollywood.
Reese Witherspoon is a hugely accomplished actor, but she is also one of the savviest businesswomen in America. Witherspoon, who starred in classic movies such as Legally Blond and Cruel Intentions, has proved to be as bright as her characters.
She has not only created her own production company but has also managed to funnel material into it.
All the material she chooses has already been tried and tested on her audience. She already knows that the shows will be successful before she makes them. She has carried out a unique market survey on us, the public.
Reese’s Book Club
It all started in 2017 with a picture of J. Courtney Sullivan’s The Engagements. The caption was simple: ‘I love this book! Has anyone else read it?’
Her second Instagram post showed that she had decided she liked sharing her literary adventure with her online audience, and quickly, photos of other books followed.
Reese’s Book Club was launched and has been successful for many years, boasting 3 million members. What appears to be a fun hobby is one of the most innovative business moves ever.
Hello Sunshine
At the same time the book club was launching, Witherspoon made her production debut by producing Legally Blond 2.
Witherspoon started a production company called Hello Sunshine, which has produced many hits such as Where the Crawdads Sing and The Morning Show. The Morning Show has recently won multiple Emmys.
It has become such a success that in 2021, Witherspoon sold a portion of the company for 900 million dollars; however, she is quick to state she is heavily involved. Witherspoon is due to join the board of the company that will be overseeing the day-to-day operations.
The sale’s success depended on two factors: the production company linked with the book club.
Market Research
In exchange for Witherspoon including an author’s book in her club, she purchases the rights to turn the book into a film. She makes the shows for those we give feedback that we love. For those who don’t, she doesn’t pursue her right to make it into a show.
Also, through the book club, she creates an audience for her movies and shows before they start filming and often years before their release.
Once a book has been turned into a film, Hello Sunshine sells the adaptations to major streaming platforms.
Success
It is hard to know which idea came to her first or whether it was a combination of the two. It is a chicken versus egg scenario. She specialises in books with strong female characters, which adds to their success.
Witherspoon has created the perfect symbiotic relationship between books and the movie rights. She has also helped promote stories that include strong female characters.
These characters are then portrayed by a range of her fellow female actors, such as Laura Dern, Nicole Kidman, and Jennifer Aniston, not to mention the ones she stars in. She has proved that, like Elle Woods, you underestimate her at your risk.
