Watch CBSN Live

"Oprah Effect" keeps on giving to show guests

Oprah Winfrey ends her 25-year run of the "Oprah Winfrey Show" on Wednesday.

The daytime talk show staple has impacted not just culture through her years of broadcasting, but the economy, as well. Her endorsement or criticism, CBS News Business and Economics Correspondent Rebecca Jarvis noted, has been known to make or break businesses.

Pictures: The gadgets Oprah turned us on to
The man who discovered Oprah

It's been called "The Oprah Effect," Jarvis said. Just about everything Oprah touches or supports turns to gold.

Over the years, hundreds of products, books, and TV personalities have reached new heights, thanks to Oprah and the buying power of her 42 million fans.

While it pays to be in Oprah's audience, such as when she gave everyone in the audience a car, the bigger prize over the years has gone to her guests.

Pictures: Stars at Oprah Winfrey's farewell taping

Oprah's Midas touch has launched multiple careers, such as Rachel Ray's and Dr. Phil McGraw's, and helped sales of her 283 "Favorite Things" soar by as much as 1,000 percent overnight.

Lisa Price, founder of Carol's Daughter beauty products, told CBS News sales climbed from $2 million to $30 million.

She said, "It was phenom, amazing and still is the gift that keeps on giving."

Jarvis remarked, "It sounds like a stamp of validation."

Price said, "That's exactly what it is."

Oprah's book club has also become a hit with consumers. Of the 70 titles featured in her club, 59 became best sellers.

One of those was David Wroblewski's debut novel, "The Story of Edgar Sawtelle," which sold 700,000 copies.

Still, Jarvis said, "The Oprah Effect" cuts both ways. After Oprah announced, "It has just stopped me cold from eating another burger," the comment made headlines. That response, American Cattle Ranchers claimed in court -- sent beef prices to a 10-year low and cost them $11 million in losses during the mad cow scare of the '90s.

Oprah won the case and left little doubt in the court of public opinion just how influential she had become.

Experts say she even played a significant role in getting Barack Obama elected president.

Craig Garthwaite, an economics professor at Northwestern University, said, "Our best estimate is that she was responsible for about a million votes in the Democratic primary."

As the queen of daytime talk takes her final bow on network TV, Lisa Price -- like most touched by "The Oprah Effect" -- remains grateful for the opportunity it gave her -- and the 65 new employees she's hired since appearing on the show.

Price said, "It is so phenomenal to be a part of that history. I can say I did the Oprah show and that's amazing to me."

Oprah's producers, Jarvis added, say they've been amazed by the level of success companies hit after appearing on her show. They'd meet with guests a month in advance to prep them for the overnight celebrity that comes with an appearance and to be certain the business can handle a tenfold increase in sales.

View CBS News In