Britney Spears’ $15M book deal shows why success is the best revenge

Liberated from her conservatory, Spears laand a Huge deal for an all-telling memoir.

IAt one of the biggest book deals of all time, Britney Spears reportedly received a $15 million advance to write her memoir for Simon & Schuster, the first major sign of her earning potential since her 13-year conservatory ended in November 2021.

That New York Post first reported on the deal, which was then picked up by news outlets across the country.

The $15 million Spears will reportedly receive represents 25% of her $60 million net worth, as estimated by forbes in February 2021. (Representatives from Spears and Simon & Schuster have not responded to requests for comment.)

Spears first hinted at a memoir on Instagram in January, when she posted a picture of a typewriter with the caption, “Should I start from the beginning???” The deal follows criticism Spears also lobbed through social media in January about her younger sister Jamie Lynn Spears’ memoir. Things I should have said. “Please stop these crazy lies for the Hollywood books,” Spears pleaded in one tedious Twitter post. Shortly thereafter, Britney’s attorney, Mathew Rosengart, served Jamie Lynn a cease and desist letter, warning her not to make derogatory comments about Britney during her publicity campaign.

In the publishing world, Spears’ $15 million advance would be one of the largest deals for a single title in history, based on the numbers published by The guard. Among pop culture peers, it would be bigger than book deals for Bruce Springsteen, who got $10 million in 2016; Rolling Stones guitarist Keith Richards, who received $8 million in 2010; and comedian Amy Schumer, who got $9 million in 2015.

Spears’ deal is also bigger than British Prime Minister Margaret Thatcher and Pope John Paul II, who received $11.3 million and $8.5 million, respectively, for their memoir. Hillary Clinton received $8 million for 2014 tough decisionsher reflections on her time as Secretary of State while receiving $15 million from her husband, President Bill Clinton in 2004 My life.

In 2017, Barack and Michelle Obama landed a massive advance on a multi-book deal worth $65 million, the only known deal larger than that of Spears or President Clinton. Random House’s big gamble seems to have paid off. The first volume of President Obama’s memoirs, A promised land, was the best-selling book of 2020, having sold more than 2.5 million copies that year. (It’s since sold an additional million, putting it in line with sales of Bill Clinton and George W. Bush memoirs.) But he doesn’t have bragging rights in the Obama household — the former first lady’s memoir, Will, has sold more than 8 million copies to date. Upfront payments are generally calculated based on a publisher’s expected sales, and larger deals like Obamas and Spears indicate how much interest a title is likely to generate.

Read them and reap

The biggest nonfiction book deals of all time.

  1. Michelle and Barack Obama ($65 million, multi-book deal)
  2. Britney Spears and Bill Clinton (tied, $15 million)
  3. Hillary Clinton ($14 million)
  4. Margaret Thatcher ($11 million)
  5. Bruce Springsteen ($10 million)

Source: The guard, vox

It’s a big change from the Spears’ financial situation over the past 13 years, during which their father, Jamie Spears, controlled their finances through a conservatory and pocketed 1.75% of the gross earnings of their Las Vegas residency. Spears spent millions on legal fees for herself and her father as she fought the agreement. Annual alimony payments of $500,000 to ex-husband Kevin Federline have also thrown their fortune away.

Whether or not Spears’ memoir can garner sales like Michelle Obama’s, the new book deal marks her first big step in showing those in control of her finances (and every other aspect of her life) that the pop star always still has serious earning potential. Spears hasn’t generated much revenue for years. She has had no product recommendations since 2015 and no new records since 2016. She has not toured since 2018 and canceled her second residency in Las Vegas in 2019. Even though forbes It is estimated that Spears has earned over $30 million in eight of the last 20 years, with approximately 25% of her gross income going to agents, managers and attorneys, and another 40% or more in local and state taxes.

The memoir deal could be the start of a financial renaissance for Britney. “I assume before the book comes out, Netflix and their publisher will call them to turn it into a TV show, movie or limited series for another big, if not the same, amount,” says Vanessa Roman, one Entertainment Finance Attorney at AkinGump. “I don’t know who won’t buy this book.”

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