Sony is buying half of Michael Jackson's music catalog from the pop star's estate for at least $600 million, music magazine Billboard writes.
Reports indicate that the major publishing and recording catalog is worth at least $1.2 billion, but could reach $1.5 billion.
He earns approximately 800 million annually
According to the magazine, the deal is the largest of its kind ever, and also includes songs that Jackson did not write for his Mijac publishing catalog. There will also be songs written or performed by, among others, Jerry Lee Lewis, Curtis Mayfield, and Ray Charles.
It was first reported that the estate negotiated over Jackson's catalog in February of last year. At the time, it was estimated that the post-pop star's assets generated about $75 million annually, and included the rights to master recordings and playbacks of Jackson's songs, Mijac's publishing catalog, income from the sale of merchandise as well as royalties from theatrical performances of the pop star's music.
Despite the accusations and documentaries against the music icon, who died in 2009, sales and plays continue to rise. From 2020 to 2023, a 37 percent increase in albums played was reported, from 1.07 million album units to 1.47 million, Luminate statistics show.
I made a deal with Jackson
However, this is not the first deal that Sony has made with Michael Jackson. Under this agreement, the company will have paid more than $2 billion to Jackson and his grandchildren over the years, Billboard wrote.
In 1991, the company purchased the first half of what later became Sony/ATV. ATV Music was the catalog Jackson purchased in 1985 that included the Beatles. It was folded into Sony's music publishing operation to become Sony/ATV, with Sony and Jackson each owning 50 percent of the company. The remaining 50% was purchased in 2016 for $750 million.
While in 2018, Sony paid $287.5 million for Jackson's stake in EMI Music Publishing.
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