An economy grows around Britney Spears
Updated: 2008-01-29 09:25
"An editor's dream is to have a real life soap opera unraveling in front of you, and Britney provides that every week," said Sarah Ivens, OK!'s U.S. editor. The magazine has a 10-person team in Los Angeles devoted to Spears coverage. "We're on constant Britney alert."
She wouldn't disclose the costs to the magazine, saying only that Spears has been "amazing" for OK!'s business. Publisher Tom Morrisy said Spears drives newsstand sales and helped the magazine's ad revenue more than double to $51 million in 2007. OK! expects to turn a profit in 2008, three years after breaking into the market.
US Weekly has been just as enamored of the star, putting Spears on nearly two-thirds of its covers last year, including each of the last 14. People has had Spears on the cover 10 times in the past 15 months.
And that heightened demand for Spears pictures has been a boon to photographers.
X17's Navarre said an exclusive shot of the star would sell for about $10,000 in the U.S. and generate thousands more in residuals. "She's the most expensive right now," he said. "For Angelina, for example, you divide by two or even three to get the price."
In contrast, the average celebrity shot fetches $125 to $700, according to Scott Mc Kiernan, founder of ZUMA Press photo agency. He said residual fees on exclusives can push the value of a unique Spears shot well past $100,000.
Many of those images wind up on celebrity gossip Web sites, like TMZ and PerezHilton. The sites make money by delivering viewers to ads on their pages, typically receiving a fee for each 1,000 hits. Navarre said Spears boosts traffic to his Web site, X17online.com, more than any other star.
"During the ambulance incident, traffic doubled every hour," he said, citing internal server data.
X17, which owns the infamous picture of a bald Spears taken in February, has a team of photographers tracking her at all times. "For us, she's the star No. 1," Navarre said.
Television ratings show that a major Spears incident attracts viewers to each of the main entertainment news TV shows, too.
"All of us sustained a major ratings spike" when Spears was taken to the hospital two weeks ago, said Charles Lachman, executive producer of Inside Edition. "It happens every time with her."
It's more difficult to assess the economic gain for TV shows because they sell ads weeks in advance, with rates based on average expected ratings. If the show fails to deliver, it has to reimburse the advertiser, but there is no such compensation if ratings exceed expectations.
Suffice it to say that advertisers love the extra attention. "Anything that boosts ratings is a win-win for everyone," said Shari Anne Brill, an analyst with ad buyer Carat USA.
On the flipside, the Spears story isn't making money for everyone. There are costs involved, too. For instance, the increased scrutiny puts a burden on Los Angeles civil service units, which have to keep Spears safe and public spaces uncluttered.
The L.A. Police Department wouldn't estimate the extra costs Spears generates. Her ambulance incident last week was handled by officers already on duty. The fire department said it was considering charging Spears for the ambulance ride, but did not disclose how much.
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