Without much hope, we asked Caesars Entertainment for some insight to how Spears’ deal with the casino giant is structured. Company publicist Kelly Frey told us, "We never publicly discuss the budget, contract details, etc. for any of our shows, including Britney’s." However, enough has leaked out to such media outlets as TMZ that we know Ms. Spears’ Piece of Me will bring her a big piece of the action.
She originally signed with Caesars for two years at $310,000 a performance. However, ticket sales were so strong that Spears was able to negotiate a substantial raise – to $475,000 a show (including a share of merchandising and unspecified "other perks"). Multiply that by 140 performances over two years and the former Mrs. Kevin Federline is unlikely to need alimony anytime soon. Nor do her dogs – who ran up a $25,000 bill last year for food, pet-sitting, visits to the vet, and other expenses – have to worry. Caesars also gave Spears first dibs on Planet Hollywood performance dates, shoving once-ballyhooed headliner Jennifer Lopez into the back seat.
Some of Spears’ compensation from Caesars (and presumably one of those "other perks" referred to) comes in the form of use of one the Rio’s Palazzo Suites, originally built for high rollers. The three-story, 8,000-square-foot residence that she now calls home (at least while in Vegas) had been vacated for less than 24 hours by Elton John when Brit moved in. Caesars also laid out $20 million to redo (and rename) Planet Hollywood’s The Axis to accommodate Spears show. This included an extension of the stage (and an attendant reduction of seating capacity), the addition of a dance floor and of panoramic projection screens, all to give Piece of Me the nightclub-esque feel and party vibe that the singer wanted, as opposed to a more traditional theater set up.
Since Planet Hollywood continues to present multiple productions and one-off events in this venue, we’re confident in saying that Caesars is paying for the stagehands, lighting technicians, etc., as they would have to have them on payroll year-round -- although there was early talking about jobbing in sound and video technicians from the outside. Caesars Vice President of Entertainment Kurt Melien stated that dancers, musicians and "support staff" would be drawn from the Vegas area. He also told Billboard that Caesars was bearing all the production and promotion costs – and, by implication, keeping all the revenue – itself: "For this specific venue and show, we’re doing it on our own. We’re doing this in house and promoting it … it was in our best interest to do it ourselves."
Caesars isn’t shy about spending big on entertainers, having recently dropped a cool million for one performance by Marc Anthony. Mind you, after it subtracted its operating expenses and what Anthony owed to his promoter, JLo’s ex took home a paltry $700,000. Spears, meanwhile, has been grossing megabucks for herself and Caesars. According to Billboard, the first 105 dates she played in Vegas grossed a cumulative $58,252,162 and played to 86.7% of capacity. Those numbers would have been more robust still, had not Spears missed three shows after suffering an onstage ankle sprain last May.
According to Spears’ manager, Larry Rudolph, the Vegas residency is, in effect, a pay cut for the singer. "You have to remember, you’re selling 4,400 seats a night instead of 15,000 seats a night. So your revenues are less than a third of what they would be if you were out on tour," he told Billboard. (Rudolph was as mum as Caesars on budgetary details, however.) He also noted that, unlike a touring show, Spears’ merchandise would be on sale week in, week out – "an added revenue stream we wouldn’t normally have."
Although we can’t parse exactly who is making how much in the end, it’s safe to say that Caesars and Spears alike are making out like bandits on Piece of Me or, to put it another way, even a small piece of Britney is nothing to be sniffed at. How she spends it all is also public record, thanks to her ongoing conservatorship, which was imposed when the singer went somewhat off the rails a few years back and, since it seems to be working like a charm, has remained in place ever since.
