“American Idol” has been one of the most successful reality competition shows of all time — until now.
The show that once made billions of dollars in profits will actually lose money in its current 13th season, multiple sources connected with the show tell TMZ.
The projected losses are a result of sky-high salaries and decreased ratings. This week, the Olympics pushed “Idol” ratings to a record low with 9.2 million viewers.
Here’s a breakdown of the show’s massive current costs, per TMZ:
And with ratings down 26% from last season, so are advertising dollars.
Yet despite the financial loss, don’t expect “Idol” to be axed from the airwaves anytime soon.
TMZ reports the show will be back for a 14th season next year thanks to Simon Cowell’s other baby, “X Factor,” getting cancelled — leaving plenty of Fox airtime for “Idol.”
source: businessinsider
Tags: American Idol, Entertainment, Latest Showbiz News
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