Weight Watchers Teamed Up With DJ Khaled and Its Stock Immediately Skyrocketed
Weight Watchers named DJ Khaled its social media ambassador Monday, a move that immediately paid off with a healthy stock bounce. The brand, looking to promote its Weight Watchers Freestyle program, enlisted the recording artist (born Khaled Mohamed Khaled) to chronicle his weight loss on Facebook, Instagram, Snapchat and Twitter, as it aims to attract more men and a younger generation of customers.
The music mogul joins Oprah Winfrey, who owns 10% of Weight Watchers, as another high profile endorser of the service. Weight Watchers (WTW) stock rose 8% Tuesday, the day after the Khaled announcement was made.
The 42-year-old Khaled brings a sizable online following to his endorsement deal with the weight loss company. His Facebook page has 3.4 million followers, and 8.9 million people follow him on Instagram. On Twitter 3.9 million people follow him, and he’s also very active on Snapchat. Khaled posts frequently about his personal life, one reason that Weight Watchers was interested in his sponsorship.
“DJ Khaled has an incredibly authentic drive and passion to inspire others through his wellness journey and experiences on WW Freestyle,” Weight Watcher’s president and chief executive Mindy Grossman said in a statement. “Being healthier is not just about weight anymore. It’s about overall health and wellness — being your best self. By capturing and sharing his process, he will enliven and inspire his community, showing that it’s possible to integrate healthy habits into your life.”
“Weight Watchers is all about being great and being your best self. My son is my love, my life, and I need to be great for him,” said Khaled in a statement. “To be great is to be healthy; to be healthy means a shift in my lifestyle.”
Terms of the deal were not released, but according to Forbes, DJ Khaled’s net worth at least $40 million, after he nabbed $24 million in 2017 and $15 million the year before. And though Khaled commands six-figure performance deals, much of his wealth has come through product endorsements — he even has a stake in crypto-currency through the Ethereum ICO.