Tyra Banks Could Earn This Much As New ‘Dancing With The Stars’ Host

No sooner than announcing that Erin Andrews and Tom Bergeron were being let go as the hosts of “Dancing With the Stars,” ABC has already revealed who will be replacing them. In a shocking and unexpected twist, the pair has been replaced by former “America’s Next Top Model” host Tyra Banks.

In a press release, the longtime home for the show and BBC Studios, who produces the series, announced that Banks was going to join the show as both a new host and executive producer, and Banks, who previously had gigs with “ANTM” and “America’s Got Talent” stated that she was excited to be taking over the reins.

“I’ve been a fan of ‘DWTS’ since its beginning... The fun mixed with raw emotion, seeing celebrities push past their comfort zones, the sizzling dance performances...it’s always transported me to my days of turning it up 10 notches on the catwalk,” she said. “Tom has set a powerful stage, and I’m excited to continue the legacy and put on my executive producer and hosting hats.”

An official reason for choosing to replace Bergeron and Andrews was not given with the initial announcement, but some have speculated that budget constraints forced the pair, especially Bergeron, out. What the pair made as co-hosts was unconfirmed, but it was reported that Bergeron’s salary was $150,000 an episode. An 11-episode season would then earn him $1.65M at a time, and when the show was airing two seasons a year, that number would rise to a whopping $$3.3M. If Andrews earned similar money, it would mean the show, which has since changed to a one-season a year format, was saying goodbye to paying out that money to the two.

However, it seems unlikely that money may have played a role in the firings, as Banks likely didn’t take the gig, especially with executive producer credits as well, for a small payday. The former model reportedly has a net worth of $90 Million—and much of that has likely come from the paychecks she took home from her previous gigs.

Back in 2009, Banks reportedly had the highest income of all women in primetime TV, with estimated earnings of $30 million. It is unclear how much of that came solely from her work on “ANTM,’ but it was rumored that when the show was canceled by the CW and picked up by VH1 back in 2016, it was too expensive to produce because of her salary.

However, her massive net worth is also attributed to her reportedly being very frugal when it comes to her spending, something she admitted to in a 2018 interview with MONEY.

“I was always more interested in experiences over things,” she said at the time. “Things didn’t make me happy. I saved, saved, saved. But I saved to a fault. About 15 years ago, my accountants pulled me aside, and they were like ‘Tyra. You’re not spending money. Nothing. You’re just giving it away to the government. You need to spend some [expletive] money!’”

Considering her frugal nature, Banks could have settled for a smaller salary that was comparable to Bergeron’s, though only time will tell. The show has had to cut costs in recent years (which led to the 2019 axing of pro dancer Sharna Burgess) and a cut in the payout contestants could earn during their time competing on the show as well. Nothing has been announced in regards to how the show plans to return for Season 29 this Fall, but a portion of the budget likely has to be allocated to making sure the set is safe for contestants, pros, judges and crew in the wake of the ongoing COVID-19 pandemic.