The Canadian actress was the first celebrity to be voted out in the ITV show's premiere after stumbling in the skate-off against Keith Chegwin, owing to a wardrobe malfunction.
Anderson's brief appearance translates to around £1,000 ($1,609) per second for her three-minute routine, reports The Mirror.
> Pamela Anderson: Did she deserve Dancing on Ice axe?
"Pammy is the biggest star we have had in years and we hoped she would pull in millions of viewers for weeks and weeks, said a source. "Her skating partner Matt Evers flew to America for weeks of training.
"We had to book first class flights for her and source plush accommodation for months too in case she got to the final stages.
"All in all, we've spent about £150,000 on Pammy and she has lasted one week. It's a disaster."
Jason Gardiner has revealed that he and his fellow judges received a "barrage of abusive comments" following their decision to eliminate Anderson.
Photo gallery - 'Dancing on Ice' series eight, week one in pictures:
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