‘American Idol’ Pays Off Big Time for Scotty McCreery and Lauren Alaina
Making it to the final round of 'American Idol' will pay off in hefty dividends for winner Scotty McCreery and runner up Lauren Alaina. The Boston Herald reports that a Los Angeles judge approved a minor's contract establishing financial protections for each minor earlier this week. Since both finalists were under the age of 18, the judge needed to step in.
Here's the numbers: McCreery stands to make $250,000 in advances for winning the show and recording the first album; looks like he won't be returning to the grocery store anytime soon other than for promotional purposes!
McCreery, 17, should earn tens of thousands in imaging involving his likeness, merch and endorsements, along with royalties from releasing music.
But don't fret for Alaina, 16, for placing second since she also stands to collect a hefty paycheck. She could earn up to $87,500 for finishing second. The amount would be doubled if Alaina records an album, which she looks on track to do.
Here's some more legalese about McCreery's and Alaina's profitable futures. The contracts are constructed so that they can be extended multiple times to allow 'Idol' partners to release multiple albums, and the advance payouts increase each time the contract is renewed. So the harder they work, the more they stand to earn.
The teens' 'Idol' contracts and recording deals require the show’s producers and partners to place 15 percent of their gross earnings in a trust account that cannot be touched until after they turn 18-years-old. That's called "good looking out" for the future.
McCreery and Alaina also just released their debut singles, and their careers are truly just beginning as they start off on the right foot.
Watch Scotty McCreery and Lauren Alaina perform 'I Told You So' on 'Idol'