Scotty McCreery is not only an "American Idol" but a rich teenager as well. The 17-year-old who was crowned season 10's winner earlier this week is due to take a paycheck of $250,000 from the show and is looking at a revenue of half a million dollars by next year.
The cash was given to the country musician as part of winning the show and as the advance payment of his debut album, Radar Online reported. If the album does well on the market, then he would be granted big money, in thousands, from the royalties.
Furthermore, his popularity can boost the sale of merchandise and endorsement products. Radar estimated that he can add $100,000 to his pocket like the previous "Idol" winners. In addition, he's due to earn $1,000 for each show in the "American Idol Tour" which expands to 47 dates currently.
If accumulated, the North Carolina native is looking at 500,000 grand in his bank balance by 2012. At his age, McCreey is still considered a minor and therefore must sign any contract with a court judge in presence.