Although no longer with us, Michael Jackson is likely to remain the King of Pop and reap a nice fortune in royalties for many years to come.
MJ’s estate has sparked up a deal with the Sony Corp for 10 albums through to 2017 at a wooper worth of $250 million. This jaw-dropping deal, which was finalised 9 months after Jackson’s death, is said to be the richest recording contract in history!
Those that are in relation with the negotiations of the deal have revealed that the albums will be a combined mixture of previously unreleased songs and new packages of the familiar tracks. Mike has left enough ammunition that will fill three albums worth of new, unheard of material. A new album is likely to hit the stores before the end of the year.
Since Jackson’s death in June of last year Sony has sold about 31 million albums of his, two-thirds of them outside the U.S. The demand for his albums has slowed down in recent months but still remains high.
Sony has picked up a sweet deal for themselves with the estate to work together on a vast range of fruitful licensing arrangements, such as the use of Jackson music for movies, TV, stage performances, and streams of memorabilia that will be limited only by the imagination of the estate and the demand of fans.
Despite the King’s death, the legend will reign for a lengthy time.
