American Idol is such a bona fide Hit that it has changed the business landscape. Simon Cowell who reportedly earns more than 30 million a year is literally crushing every show in the path as it eats up millions of dollars in advertising money.
American Idol has even created a “cottage industry”. According to variety.com, “TV shows, newspapers and record labels that touch the show have enjoyed a lucrative ride on the “Idol” express. And the show’s shadow economy isn’t limited to media — it’s also lifted the fortunes of a wide array of “Idol” carpetbaggers, from Cingular to Coca-Cola to a host of licensees.” Read the full article here.