Michael Jackson Estate Plans To Sell Half Of His Music Catalogue For Over N369 Billion
Legendary Michel Jackson continues to earn money for his family even years after his death as there is a proposed bid to buy half of his music catalog by interested parties. According to Sources, the collection will sell for between $800 million and $900 million.
In addition to making the purchase, Sony and a potential financial partner are negotiating with the estate to buy half of the estate’s interest in Jackson’s publishing and recorded music royalties. The planned documentary about the King of Pop and the Broadway production of “MJ: The Musical” might be included in the purchase.
The transaction appears to be one of the most significant music catalog purchases, likely leading to more lucrative arrangements for the involved stars. For example, Bob Dylan sold his collection to Universal Music Publishing in 2021 for $300–400 million.
When it comes to purchasing music catalogs, Sony Music has been a significant player. For example, at the end of 2021, Bruce Springsteen agreed to sell his portfolio of recorded music and publishing works to the media behemoth.
It is said that Sony and Eldridge Industries, who also supported them during the purchase of Springsteen’s catalog, will collaborate on the Michael Jackson collection.
Additionally, the firm assisted Sony in acquiring The Killers’ back catalog of releases before 2020. They later collaborated with Universal to purchase Dr. Dre’s discography for an estimated $200 million, and in 2020, Scooter Braun helped them acquire Taylor Swift’s first six albums.
Jackson’s music library is already partially owned by Primary Wave, a private music publishing company. However, it is unclear how much.
With recordings by Stevie Nicks, Prince, James Brown, Whitney Houston, Olivia Newton-John, and a host of other musicians in its collection, the company has been creating a name for itself in the world of music archives.
It is undeniable that in the era of streaming, having the rights to so many artists has become a goldmine, with the companies that own them making substantial profits off of the streams and as many other avenues as possible.
Owning a share of Jackson’s history would further strengthen Sony’s position in the music industry, given the variety of hit songs in Jackson’s discography.