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REPORT: AMERICAN IDOL NOW A MONEY LOSER

February 24, 2014 by · Leave a Comment 

For the first time, American Idol, one of the most profitable TV series ever, will wind up the current year losing money, the gossip website TMZ reported today (Monday), citing multiple sources connected with the show.They point out that the show has an enormous overhead, with judge Jennifer Lopez and host Ryan Seacrest each receiving around $15 million. In addition, the producers spent $5-7 million on a new set and are still required to pay longtime executive producers Nigel Lythgoe and Ken Warwick, who were booted from the show last year. Add to that a drop in advertising rates resulting from lower ratings — they’re down 26 percent from last season — and the show — despite still capturing ratings that most other networks would envy — ends up in the red. TMZ said that Fox declined to comment on the report.