Sony Music Group has reportedly paid a massive $600 million for half of Michael Jackson’s catalogue, indicating that the singer’s musical assets are worth over $1.2 billion.
This deal marks the biggest ever for the work of a single musician. Jackson, who died in 2009, remains one of the most successful pop stars, having sold over 400 million records worldwide, with some sources suggesting this figure could be even higher.
The late musician’s 1982 album, Thriller, is still the best-selling record of all time and he remains immensely popular on streaming services, with nearly 40 million monthly listeners on Spotify. Hits like Billie Jean and Beat It have each been played over a billion times on Spotify alone, demonstrating the enduring appeal of Jackson’s music.
Moreover, an upcoming film biopic starring Jackson’s nephew is expected to further increase interest in the artist’s work.
Apart from Jackson’s own tracks, the deal includes music from other artists acquired by Jackson’s Mijac publishing group, such as hits by Ray Charles, Elvis Presley, and Aretha Franklin. The sale was arranged with the Estate of Michael Jackson, who manage the late star’s affairs.
This deal is part of a growing trend in the music industry, with artists like Bruce Springsteen and Bob Dylan also selling their back catalogues for substantial amounts. Even the rock band Queen has reportedly considered a similar deal, highlighting the financial allure of owning and selling music back catalogues.
The high price paid for Jackson’s catalogue serves as a testament to his lasting impact and enduring popularity in the music industry.
