Donny Osmond's advice: Reinvent yourself

Donny Osmond has been in the music business for 50 years, and to celebrate he has released his 60th album, "The Soundtrack of My Life."

The entertainer, who rang the New York Stock Exchange's closing bell Tuesday, chalks up his success to the ability to reinvent himself continually.

"You can't rest on your laurels. People expect you to do one thing. You've got to do something else. Make it fresh. Make it new all the time," he said in an interview with CNBC's "Closing Bell."

His latest album is being billed as a summary of his life, with each track telling a story. For fans who want a peek, they can download samples with Osmond's new free app.

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Donny Osmond attends the National Television Awards at 02 Arena in London.
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Donny Osmond attends the National Television Awards at 02 Arena in London.

The "Puppy Love" singer, who won "Dancing With the Stars" in 2009, boasted that only two other artists have released more records: Elvis and Frank Zappa. He also called his supporters the "greatest fans that have supported me for 50 years."

"Since I won 'Dancing With the Stars' the demographic's broadened a lot but the 'Puppy Lovers' ... they're still there, that's my core audience."

In addition to his new album, Osmond is currently entertaining crowds in Las Vegas with his sister, Marie.

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He has also branched out into the home furnishing business with Donny Osmond Home.

"The reason why we did this is because show business is just a crazy business all the time. You've got to have a place to go home, that's just comfortable," he said.

He also has an interest in politics. Osmond, who is a Mormon, supported fellow Mormon Mitt Romney during his failed presidential bid. Osmond said he would support Romney again if he chose to run in 2016.