Episode 211: Everyone in Hollywood Has a Spirit Brand—But Are They Making Any Money?

After months of debate over who should win "Best Actor," "Best Actress," and "Best Picture" (and "Best Film Editing," for all you cinephiles out there), the results will finally be announced this Sunday evening at the 98th Academy Awards ceremony, allowing us to finally fill out our Oscars bingo cards.

But for many movie stars, the end of awards season means they can ramp up outside business ventures—often of the boozy variety. Over the past decade, we've seen countless celebrities launch spirit brands to great success, like George Clooney's Casamigos tequila and Ryan Reynolds' Aviation gin. Some of this year's Oscar nominees have gotten in on the trend, too. Re-watching Song Sung Blue to feel something? Mix up an espresso martini using "Best Actress" nominee Kate Hudson's King St. Vodka. Giving One Battle After Another a chance to prove its 4.2/5 Letterboxd rating? A Paloma with "Best Supporting Actor" nominee Benicio del Toro-backed Perro Verde Mezcal is the perfect pairing.

It's no secret that the spirits industry is in a state of turmoil, as people drink less and purchase less alcohol. So why are celebrities still jumping into the space? And what does it take for their brands to actually be successful? I spoke with Ed Mundy, who heads up beverages research at investment bank and financial services firm Jefferies, to find out.

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