Thursday, March 18, 2010

Jackson Still Raking in the Millions

The estate of Michael Jackson has landed the late King of Pop the biggest recording deal in history: a $200 million guaranteed contract with Sony Music Entertainment for 10 projects over seven years, according to insider information. The record-breaking contract, up to and through 2017, could be worth up to $250 million if certain conditions are met. One of the albums will be of never-before-released Jackson recordings.

Future projects may also include a video game, a DVD compilation of videos and a re-release of "Off the Wall," Jackson's fifth studio album, which first came out in 1979, accompanied by some unreleased material. Before his sudden death in June/09 at age 50, the pop star had wanted to re-issue the album. One of the projects already counted in the contract is the two-disc album that accompanied "This Is It," the film based on footage of concert rehearsals for what was to have been Jackson's comeback in London. Including the more than 5 million copies of that special release, Jackson has sold some 31 million albums since his death in June/09, about two-thirds of them outside the United States.

"During his life, Michael's contracts set the standard for the industry," said John Branca, the co-administrator of the Jackson estate, in a statement prepared for release Tuesday. "By all objective criteria, this agreement with Sony Music demonstrates the lasting power of Michael's music by exceeding all previous industry benchmarks."
Rob Stringer, chairman of Sony Music's Columbia Epic Label Group, said in prepared remarks, "We're dedicated to protecting this icon's legacy and we're thrilled that we can continue to bring his music to the world for the foreseeable future."

The landmark deal is worth more than all other benchmarks, such as the all-encompassing rights deals that concert promoter and ticket-seller Live Nation Entertainment Inc. had previously signed with Madonna at $120 million and Jay-Z for $150 million. The deal with Jackson's estate is even more remarkable because it does not include royalties from merchandise. The contract shows the value of legacy artists. It also comes at a time of decline for the music industry, with sales down about half from their peak in 2000 mainly due to free file-swapping. The money will go a long way to settling Jackson's debts, estimated at around $400 million at the time of his death.

The singer whose life was plagued with scandal has had a resurgence of popularity in death. Distribution rights for "This Is It" were sold to Sony Pictures, another unit of Sony Corp., for $60 million and the movie went on to gross $252 million worldwide, the most of any concert film ever. Revenue from that, song sales and merchandising agreements brought into the estate revenues of about $100 million. The Walt Disney Co. even brought back the 17-minute Jackson movie "Captain EO" to its Disneyland theme park in Anaheim last month. The original began running at the park in 1986 but was pulled in 1997.

Jackson's most lasting and valuable asset is the 50 per cent stake in Sony/ATV Music Publishing, a company that owns publishing rights to music by The Beatles and numerous other artists, including Elvis Presley and Bob Dylan. The copyright catalogue itself is estimated to be worth $2 billion.

The new financial windfall comes even as circumstances around his death remain in legal limbo. Dr. Conrad Murray faces an involuntary manslaughter charge for allegedly giving Jackson a lethal combination of sedatives. He is due back in a Los Angeles court April 5.

Michael is still taking care of his children. Kudos MJ, for making sure they'll be alright.

43 comments:

  1. Anonymous9:34:00 PM

    Hi Pic
    How's it going? How is Brian doing?
    Maxy is so cute, he's smiling at me. Is Nana still turning off Brian's TV?

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  2. Anonymous9:37:00 PM

    I hope there is someone else looking after MJ's money for his kids sake, left to his brothers and old beady eyes they will have nothing.

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  3. Brian is having one of his not so good days. Very tired and sleeping. Maxy is beside him.

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  4. Nana still tells him what to do and gets mad when he ignores her.

    Nan says you and Nana are quite alike.

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  5. It sounded like you had a nice holiday.That's great to hear.Frankly, a holiday with three little kids does not sound restful to me now that I am older.In my twenties I would have energy to spare for the kids and not needed any rest.

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  6. Anonymous9:40:00 PM

    I think his mood will improve as he heal...he has had a rough time, and you know this is not his thing to stay still, he's restless.

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  7. Old Beady has not given up yet trying to get his paws on MJ's money. He will find a way.Sneaky people never give up.Especially if he has a sneaky lawyer too.

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  8. It sounds like the estate will continue to make millions for years.A couple of MJ's lawyers, who are now representing his kids have control of the money, with Mj's mother coming second.

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  9. Anonymous9:45:00 PM

    Yes I think Nana and I are a lot alike. They wore my ass out, but I enjoyed them, right now I am going to rest a year. the first thing dad said to me this morning he wanted some homemade rolls and the upside down cake. I'm going to make that old fool disappear.[giggles]

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  10. Anonymous9:50:00 PM

    That's good someone else in in charge, maybe the kids will have a chance.
    All the Jacksons is a weird bunch.
    Glad Murray is being charged, the need to look into all the pill docs, these people is dropping like flys.

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  11. I would like to take a look at old Beady's past and see what I can turn up.He has the look of a hardened criminal.

    On a lighter note, one of our favorite bad boys S.Penn has been in Haiti since the quake working for the people setting up a medical facility out of his own pocket.He intends to stay until everyone is taken care of.He says there are injured people who still haven't been treated and are dying of infections.

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  12. I'm glad Dad liked the upside down cake but he sounds like you've spoiled him. You have you know.

    You probably won't get a moment's rest.You need a holiday to get over your holiday.

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  13. Anonymous9:57:00 PM

    I went back to check the posts and I seen he was there, he talked about it on Bill Marlar show.He was there when I made the post on what he said about his critics,he also found someone alive.
    All our bad boys are doing something to help people in need.
    Nicholas Cage is here making a movie,Driving Angry in 3D.

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  14. At least the kids go back to school Monday.

    We haven't seen our twins in weeks. They went on a holiday to Ottawa with J and P.They were home one day but they had to do a karate test. The next day they went with Bio to God knows where.I'm a little worried about Jakey he got a bad cough while he was in Ottawa. They don't get any rest when they are with Bio.He keeps them up till midnight.Jakey needs a lot of sleep at the best of times.

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  15. Anonymous10:01:00 PM

    All my family know when to back off, I will not let them take advantage of me. Dad know when to back off.

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  16. It sounds like your little ones had a wonderful time.That is your pleasure, to see them so happy.

    Sammy wanted to see our Priminister and tell him that he didn't like the way he runs the country. He wanted to tell the guy to lower our taxes.
    So P took them to tour the parliament buildings and see the session chamber but all the members were on March break even our leader so Sammy was disappointed.

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  17. Anonymous10:06:00 PM

    I wish J didn't have to let them go with him...the damn fool is not a father if he was he would know how to take better care of Jakey.
    If you put the sorry SOB brians in a mustard seed you would have room left over.

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  18. We do pay way too much taxes. We have to support this huge country and there are only 35 million Canadians.Just maintaining millions of miles of roads is enough to make us all broke.

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  19. Anonymous10:10:00 PM

    That's a boy Sammy let your voice be heard.
    Don't be surprise if one day Sammy is going to tell Bio where to hang his ass.

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  20. You are so right about Bio.He has no idea how to take care of the boys. P has had to have talks with him about feeding them properly and letting them rest.
    Bio also never bathes them and tells them not to bother brushing their teeth. They come home filthy and exhausted.

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  21. Anonymous10:16:00 PM

    Well you know what most of them do with our money....some put it in the freezer.You know where your money going, we can only guess because most or crooks.The schools are the pits.

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  22. You have a lot of insight. We expect Sammy will take charge of the whole situation with Bio in the not too distant future.He is one smart boy.

    Sammy was Bio's favorite until lately and Jakey was neglected. Now the tables have turned completely and Jakey is his favorite. We figure Sammy told Bio
    where to get off and Sammy is no longer so easy for Bio to influence and control.

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  23. Anonymous10:20:00 PM

    Maybe that's another reason she left, he wouldn't bathe or brush his teeth.
    I know you worry about Jakey, if he get sick the fool won't know what to do.
    He seems to just want to be their friend,when they are with him he has to be their father, but he don't know how to do that.

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  24. You're right we do know where our tax dollars go.A lot of them go to our health care but it's worth it.
    Brian's hospital and surgery bills were probably in the hundreds of thousands and we didn't have to pay a penny. Bills like that could bankrupt a lot of people.

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  25. Anonymous10:23:00 PM

    Nan asked me did I orgasm when I do my workouts. You two are so bad.

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  26. We still have not heard boo from his wife. I wonder where the hell she went. Bio is selling her horses. They are just staying in his stable getting fatter and fatter. The boys say he never exercises the poor things.

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  27. Anonymous10:26:00 PM

    I like your healthcare system, everyone treated the same, that's the way it should be.

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  28. Well do you??????????

    Nan and I figured if anyone could orgasam while exercising you could.

    Those ladies swear they can orgasm doing leg raises and chin-ups.WTF?

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  29. I think I missed that course in highschool P.E.

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  30. Anonymous10:30:00 PM

    Sammy loves Jakey and they may get into it sometime but he know how Jakey feel, twins have a bond and can pick up on things.
    Nan and I bitch at each other, but it's hell to pay if anyone else do it to us.

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  31. Anonymous10:35:00 PM

    No I don't and I missed that in P.E. also, Nan wants me to ask Sis, I asked her was she crazy, I'm not fooling with that mean ass woman.

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  32. Anonymous10:38:00 PM

    That's a good orgasam going to waste, need to feel something down there.

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  33. Are your girls looking forward to school??Girls usually like school better than boys at that age.

    I bet Jill is going to be a brainiac. She sounds very smart and is the apple of her daddy's eye. He will send her to the best schools, perhaps his alma mater, Yale or was it Harvard Law School??

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  34. Anonymous10:41:00 PM

    It's about time for you to give Brian his meds and let Maxy out.
    PIC I missed you...it was like something was missing.

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  35. Anyhow I know she will make you very proud one day.
    From what I've heard Gilly has your personality( Nan says so ).I bet he is a lot of fun.Even dad said he was a funny little guy.He is so gorgeous.

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  36. Anonymous10:44:00 PM

    It was Harvard and he want's her to go there and to Cambridge.

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  37. I've been sitting here wondering if I should wake Brian. He is in such a deep exhausted sleep.

    But I should let Maxy out. Our weather has been so lovely that the rabbits are back in the yard again.I can hear Maxy smacking his lips.

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  38. Anonymous10:48:00 PM

    Gilly is just like his mama and he is so funny and Nan is right he is a bad ass baby, he's rough.
    Gil says Jill acts like me, she has my temper.

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  39. You're right about that empty orgasm. One of the ladies in the article uses her vibrator while she is exercising to enhance the orgasm. I don't know how she does that. I can't picture it.

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  40. Anyway luv, I'll be saying good-night and have a good long sleep. You'll have to be up early to make upside down cake...HA!

    See you at the rock concert...luv PIC

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  41. Anonymous10:51:00 PM

    Maybe you could let him rest and give him his meds when he wakes.

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  42. Anonymous10:55:00 PM

    I enjoyed it as always.
    Get some rest and the rock concert is on the river bank after the sun sets.
    Take care and may all your dreams and wishes come true.
    Hugs and and kisses.....
    Goodnite....PIC

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  43. P.S It sounds like JIll will be a very passionate lawyer. Maybe she will choose to represent the little guys and the underdogs or be an environmental lawyer...It will be fascinating for you to watch her grow....PIC

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