As usual, in death celebrities get richer than ever! This is why M.J. had no respect for money, he knew what was going to happen, the WSJ reports:
The deal—touted by both Sony and Mr. Jackson’s estate as the most lucrative recording contract ever— guarantees the estate at least $200 million. With 10 albums over seven years, the deal will involve a mix of previously unreleased songs and new packages of familiar ones. The dollar amount is especially striking against the backdrop of the music industry as a whole, in which U.S. album sales have plunged 52% in a decade.
Since Mr. Jackson’s death on June 25, Sony has sold an estimated 31 million of his albums globally. By the first anniversary of his death, his estate expects to have earned $250 million from sales of music, merchandise and tickets to the posthumous concert film “This Is It.”
The advances being paid by Sony are to be offset by sales of albums as well as revenue generated by licensing Mr. Jackson’s music for uses like videogames, movies and theatrical performances. But unlike the megadeals struck in recent years by concert promoter Live Nation Entertainment Inc. with pop stars Jay-Z and Madonna, the Jackson deal doesn’t give Sony income from other parts of the late singer’s business, such as merchandise sales or fees for licensing his name and likeness.
So there is still money to be made of off Michael Jackson this is just the tip of the iceberg…..
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Let me get this straight, Sony Music has ALREADY sold THIRTY ONE MILLION of his albums globally SINCE his death (liberally speaking, that’s about $300-400 MILLION in revenue ALREADY) and offers a measly 250 Million to the estate for TEN MORE ALBUMS over the next SEVEN YEARS!!!
Uhhh… I could be missing something here, but this sounds a complete fucking rip for the estate. I think the entire executive staff over at Sony Music has just started planning early retirement.
We were thinking the same thing. Tommy Mottala et al wins in the end.
I would have never guessed in a million years that was Latoya Jackson.
Word up. She looks so pretty there. What did that family do to their faces!!!
Who are those people? Why oh why did they ever change? Smh. Too sad.
I know, latoya looked so cute back then
They should’ve stopped at the first nose job…
Well, maybe this will end the layoffs at Sony/BMG
Thanks for the mathematical breakdown, I don’t even care anymore, ain’t nobody black going to get a dime off M.J. The entire Jackson family are going to have to put themselves to work for Prince, Paris, and Blanket. I saw the This is It DVD. Overall, I think MJ was trying to subliminally teach us all a lesson about money, race, and the pitfalls of fame. Would you trade the music for the money?