Richard Cohen's
The Liberal Sensibility column in my morning newspaper cites
Portfolio's article on the value of Britney Spears--and the others of her ilk--to the U.S. Economy.
http://www.portfolio.com/culture-lifestyle/culture-inc/arts/2008/01/14/Britney-Spears-Career-Analysis
Quote:To the casual tabloid reader, Britney Spears' life looks like a train wreck. To the Britney Industrial Complex, comprising everyone from paparazzi to perfume vendors, she is a gold mine. Whether she's shaving her head or battling for custody of her children, Britney seems to grow more fascinating (and to some people, more lucrative) every time she stumbles. Recent court documents suggest she's amassed a $125 million fortune and continues to rake in about $737,000 a month, or nearly $9 million a year. But that's chicken feed compared with the overall Britney economy. (View slideshow.)
The Packagers
Britney has sold 83 million records since the release of her debut album in 1999, bringing in more than $400 million to Jive Records, her recording company. Even her 2007 album sold well, despite her troubles. Her tours have grossed nearly $150 million; the average take for her 265 solo shows is $583,138, according to Pollstar, which tracks touring data. But there's a lot more of Britney for sale than her music: Pure Nightclub in Las Vegas reportedly sold seats at a table next to hers for $50,000 at a recent bash, and she still commands between $250,000 and $400,000 just for showing up at events. Elizabeth Arden has sold nearly $100 million worth of its Britney perfumes?-Believe, Curious, and Fantasy. PepsiCo determined that it was worth paying her a reported $4 million to $10 million for a short-lived ad gig.
Estimated annual take for record company, promoters, licensers, and others: $30 million to $40 million
.........................
Estimated annual value of the Britney Spears economy: $110 million to $120 million
The article continues ot the
Portfolio website.
Richard Cohen observes that economics is called "the dismal science".
Perhaps he's right?