For “The Situation,” the “G” in “GTL” should stand for green — as in lots of money.
Cashing in on his newfound fame, Mike “The Situation” Sorrentino, one of the breakout stars from MTV’s popular reality TV show, “Jersey Shore,” is set to make a whopping $5 million this year alone, according to a new report.
Sorrentino, who has negotiated a deal with MTV that is reportedly worth nearly $60,000 an episode after ratings-based incentive bonuses, has also parlayed his reality television success into other lucrative opportunities.
According to an exclusive report by The Hollywood Reporter, Sorrentino’s seven-figure earnings will come from his “Shore” contract, appearances fees, which can reach as high as $50,000 a pop, a six-figure book deal, a workout DVD and a set of pre-workout tablets sold at GNC.
“We are really excited about all the opportunities coming Mike’s way,” said Sorrentino’s manager, Mike Petolino of Gotham Entertainment. “He has been able to secure many endorsement deals, business opportunities and additional television offers based on the success of the show. Our goal has always been to try to build a brand if the situation presented itself.”
Sorrentino also reportedly earns a double-digit percentage on all “Shore” related gear, including t-shirts, DVDs and memorabilia.
For Sorrentino, “creeping” and “GTL” isn’t the only thing on his mind, and his manager attributes his success to the star’s moneymaking mindset.
“He takes a business-minded approach to everything he does,” Petolino said.
“People told him to enjoy his 15 minutes of fame and that he wouldn’t last. I think we can agree he’s extended it to at least 17.”
As for when the cash flow will stop for the guido, the end doesn’t appear to be near. Sorrentino is expected to rake in even more next year, as he could earn up to $10 million before the end of 2011.
With Reuters