It’s believed that Sony Music Group paid at least $600 million (£475 million) for half of Michael Jackson’s back library.If this is true, the singer’s musical properties are valued at about $1.2-billion (£950 million).
Additionally, it would be the largest-ever deal for a single musician’s work.
Having sold over 400 million records worldwide, Michael Jackson was one of the most successful pop musicians of all time. He passed away in 2009 at the age of 50.
It’s disputed that number might be significantly higher.
Guinness World Records states that his 1982 album Thriller is remains the best-selling record of all time.
The King of Pop has around 40 million monthly listeners on Spotify, demonstrating his enormous popularity on streaming services.
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On Spotify alone, his songs Beat It and Billie Jean have been listened to over a billion times each.
A biographical film that is soon to be released and has Jackson’s nephew in the lead role will surely spark more curiosity.
According to reports, the back catalogue sale also includes songs by other artists that Jackson’s Mijac publishing business reportedly purchased, including hits by Aretha Franklin, Ray Charles, and Elvis Presley.
The Estate of Michael Jackson, who oversees the late star’s affairs, would have organized the transaction.
Selling back catalogs to artists is a lucrative endeavor. Bob Dylan is said to have garnered up to $450 million (£356 million) for his work, while Bruce Springsteen reportedly made $500 million (£396 million).
