Hollywood power couple Mike and Irena Medavoy
Media playback is unsupported on your device

Fundraisers reveal power of Hollywood election cash

The 2012 US presidential campaign is predicted to be a costly one, with both sides raising around $700m already.

A lavish fundraising party held for President Barack Obama at the home of actor George Clooney cost $40,000 per person, with guests including celebrities Jack Black and Barbra Streisand, as well as two small donors who won a raffle.

The event raised about $15m, from both large individual donations and grassroots contributions. President Obama's first campaign was famous for the amount it raised from small donors, but Hollywood money is playing a larger role this time around.

Mike Medavoy is one of Hollywood's most prolific film producers, with credits including One Flew Over the Cuckoo's Nest, Rocky, Network and more recently Black Swan.

His wife Irena was one of the then-Senator Obama's early supporters in Hollywood and she has hosted, organised and attended dozens of fundraisers for the president.

Alastair Leithead spoke to the couple about the relationship between Hollywood and the White House.

  • 12 May 2012
Go to next video: Clooney hosts Obama fundraiser