Inside Victoria Secret's Sexy $12 Million Fashion Show (Photos)

Mark Leibowitz

The Victoria's Secret Fashion Show struts onto the catwalk Tuesday with teeny undies that attract the eyes and bottom lines that benefit both the retailer and CBS.

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The Hollywood Reporter's Marisa Guthrie reports that the one-hour, $12 million production translated into net sales of $5.5 billion last year for the company.

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CBS, meanwhile, licenses the show for slightly more than $1 million -- well below the $20 million it pays for the Grammys -- and attracts much younger viewers that traditionally tune into the network. More than half of the 2010 audience was in the 18-49 demo, reports Guthrie, and viewership is 60 percent women.

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This year's show features performances from Nicki Minaj, Maroon 5 and headliner Kanye West, plus appearances by models Adriana Lima, Erin Heatherton, Lindsay Ellingson and Miranda Kerr, who sports the event's now-iconic $2.5 million Fantasy Treasure Bra.

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IMG Models senior vp Ivan Bart tells THR of the benefits his clients receive appearing on the show and representing Victoria's Secret, "It puts millions of dollars of advertising behind you. By promoting the brand you're getting more experience doing publicity, events, speaking on camera, talk shows -- everything that it takes to be a brand ambassador. That gives you tremendous visibility and opportunities."