Initially, the big celebrity news this week was Clay Aiken’s coming out story, published exclusively in People magazine.
While Aiken’s announcement was interesting in and of itself, more compelling is the backstory behind the People deal. Apparently, the economy isn’t just having an impact on Wall Street — it’s affecting the celebrity magazine world, too.
Exclusive photos of Clay and his son Parker went for an underwhelming amount compared to the multimillion-dollar price tag that accompanies a Jennifer Lopez or Jolie-Pitt agreement. Aiken’s deal cost somewhere in the neighborhood of $500,000 according to several sources privy to the negotiations (a rep for People said “We don’t comment on the specifics of any deals”).
The low dollar amount wasn’t necessarily due to waning interest in Aiken — one editor admitted that his magazine had been trying to get the singer to do a tell-all for a substantial sum long before the baby was in the picture. Instead, People, had little competition for the photos, and in turn, no one to drive the price up.
“Gone are the days when any celebrity gets millions of dollars for their photos,” says one magazine editor. “Economically, it doesn’t make sense, and there is only so long that you can keep saying ‘It’s good for the brand.’ People is the magazine that’s most well-off, that has the finances right now to take on these exclusives.”
OK! magazine’s Brian Strong confirmed that the weekly mag did participate in negotiations for the photos. Us Weekly, who in the past has bid on photos of Brad and Angelina, among others, was not part of the Aiken bidding, and neither were Life & Style or In Touch.
OK! is said to be watching its finances a little more closely, especially now that it’s hired a new general manager, Kent Brownridge. But Strong says the economy hasn’t priced OK! out of the exclusives game. “The magazine is absolutely not changing its attitude toward big exclusives,” Strong says. “When there’s a big story out there, the magazine will continue to compete at a high level.”
Compete they might, but consumers are feeling the economic crunch as well. With some exceptions, shelling out the cash at the grocery-store cash register isn’t a priority when times are tough.
“Sure, everyone is curious to see Matthew McConaughey and his baby, but is it worth it?” says the editor. “For millions of dollars and only a small bump in sales, it isn’t worth it for the magazine, and when the economy is the mess it is now, it makes more sense to look at the pictures (while) waiting in line instead of buying the thing.”
(source)
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