Michael Jackson: Stake in catalogue sells for $600m

Sony Music Group is believed to have spent at least $600 million (£475 million) for half of Michael Jackson’s catalogue.

If accurate, the singer’s musical assets would be worth more than $1.2 billion (£950 million).
The agreement would also be the largest ever for the work of a single musician.

Michael Jackson: Stake in catalogue sells for $600m

Michael Jackson, who died in 2009 at 50, was one of the most successful pop musicians ever, having sold over 400 million records worldwide.

That value is debatable and might be far higher.

According to Guinness World Records, Michael Jackson’s 1982 album Thriller remains the best-selling record ever.

Michael Jackson: Stake in catalogue sells for $600m

The King of Pop is also extremely popular on streaming platforms, with around 40 million monthly listeners on Spotify.

His songs Billie Jean and Beat It have been played over a billion times on Spotify alone.

An impending film biopic starring Jackson’s nephew in the titular role will likely spark curiosity.

Michael Jackson: Stake in catalogue sells for $600m

The back catalogue purchase is also rumoured to include music from other artists acquired by Jackson’s

Mijac publishing business, including hits by Ray Charles, Elvis Presley, and Aretha Franklin.

The sale would have been handled via Michael Jackson’s Estate, which manages the late star’s affairs.

SOURCE – (BBC)