$25 Million Worth of People Covers
People spent last week getting rid of people, but whatever the magazine saves next year by eliminating 18 editorial jobs, it's a drop in the bucket compared to what the magazine has to pay celebrities for pictures of their babies and weddings. To preserve its place at the top of the celebrity weekly heap, People has long stuck to a policy that it will never be outbid by the likes of In Touch, Us Weekly or OK!. Because celebrities auction off their most precious moments, the competition typically knows the sort of bottomless budget they're up against. And it's jaw-dropping: just these eight covers, all from this year, have set the Time Inc. title back by about $25 million.
The breakdown works like this:
- Angelina Jolie and Brad Pitt twins: $14 million
- Jennifer Lopez twins: $6 million
- Clay Aiken baby: $1 million
- Christina Aguilera baby: $2 million
- Tori Spelling secrets: $500,000
- Mariah Carey wedding: $1 million
- Ashlee Simpson wedding: $500,000
- Jodie Sweetin (which carried the amazing cover line "From Meth Addict to Mom"): $500,000