February 11, 2009 4:16 PM

Measuring Oprah's Obama Influence

By
Jeff Greenfield
By CBS News correspondent Jeff Greenfield.

Here's one way you can measure what Oprah Winfrey's endorsement means for Democrat Barack Obama: the fund-raiser she's throwing for him Saturday at her Santa Barbara mansion will likely raise some $3 million.

But as Oprah herself noted when she explained her first-ever presidential endorsement to CNN's Larry King, money may not be biggest asset she brings.

"I think my value to him, my support of him, is probably worth more than any check that I could write," she said.

It's not just that Oprah is a celebrity that makes this potentially big political news. Politicians have long surrounded themselves with the glitz and famous.

And there's reason to be skeptical about the political power of celebrities. In 2004, radio's Howard Stern repeatedly bashed George Bush and urged a vote for John Kerry.

Might this not win over some of his 8 million mostly white young and middle-aged men?

According to the exit polls, 62 percent of white men under 45 voted for Bush.

But Oprah Winfrey is a different kind of celebrity -- someone who occupies a unique place in our culture; someone whose power is measured not simply by how many she reaches, but who she reaches and how.

"She's got not just a TV show where she reaches over 40 million viewers a week, she has a Web site ... she's got magazines ... and she's been at it for years so she's built quite, not just a fan base but a following, and that's key," said Elizabeth MacDonald, a senior editor for Forbes Magazine. "It's not just that she has viewers, people act on what she says."

With her daily talk show, Oprah can put books on the best seller list and start fashion, diet and exercise crazes. She has also been talking to, and with, Americans about the most intimate aspects of their lives.

So the possibilities are intriguing, but so are the risks.

"Now Oprah could be inextricably linked to Obama," MacDonald said. "And any stumbles that he makes on the campaign trail, could reflect back on her."

There is, however, one benefit Obama will clearly gain from Oprah's backing. She's already declared that she will have no other presidential candidates on her show. That would, she said, be hypocritical. Given the measurable boost that Bush got from his 2000 appearance on her program, her decision has already cost Obama's rivals an invaluable venue.
Copyright 2009 CBS. All rights reserved.
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