Some people don't like it that I keep posting about the paparazzi, but how can anyone who writes about the photo world ignore them? It's like when I say I'm sick and tired of seeing Britney Spears on magazine covers…money talks, and Britney keeps showing up on the newsstand, week after week.
Now Portfolio magazine has quantified the Britney Effect on the Economy, and as you might expect photography is a big part of the story. The magazine estimates that the annual value of Britney to the U.S. economy is up to $120 million a year. The magazine says record companies, promoters, and licensers make $30 to $40 million off of Britney.
Meanwhile, the paparazzi make $4 million a year from selling pictures of her, the magazine says. The X17 agency, which keeps a 24/7 watch on the troubled pop star, admits that she accounts for 30 percent of its revenues.
Celebrity media where the real money is. The magazine says that tabloid magazines, web sites, and other media make $74 million a year from Spears.