- This time last year, Michael Jackson was on the brink of perhaps his most spectacular achievement. With the opening date of the ‘This Is It' tour only days away, it seemed ‘The King of Pop' was about to pull off the greatest comeback in music history. His death, on 25 June 2009, shocked the world, but it is far from the end of the story.
- Official figures released this week show that Jackson has earned $1 billion in the last 12 months. Not only has this made him the highest-earning dead celebrity there is, but it has also secured the future of his children, covered the enormous debts left behind and re-established Michael as the foremost power in entertainment, even from beyond the grave. But how has he done it?
- Music Sales = $429 million
- During this period, Billboard estimates the singer has sold ten million albums in the US, including Jackson 5 material. Meanwhile, outside America, he's shifted 24 million units, amounting to $383 million. Worldwide digital revenue from downloads is $34m, while ringtone sales totalled $5m. Add monies generated from subscription services and international digital performance royalties and that brings us to the impressive figure above.
- Film/TV = $392 million
- In the aftermath of Jackson's death, AEG, promoters for his ill-fated O2 residency, looked doomed. The ‘This Is It' movie, which is the most successful concert film of all time, changed that. Sony bought the rehearsal footage for $60m and it went on to make $72m in the US and $188m at the overseas box office. Purchases and rental of the DVD have raked in a fortune worldwide, making $18 million on its first day of release in Japan alone. Allied with broadcast on TV and elsewhere, it equals $392m.
- Music Publishing = $130 million
- Jackson's music publishing company, Mijac, is estimated to be worth around $150m, which generates around $25m per year. That is reported to have doubled to as much as $50 million over the last 12 months. He also owns half of Sony/ATV, which is valued at $800m, amounting to $80m per year.
- Licensing/Touring = $35 million
- AEG and Michael's people have rallied to monetise the ‘This Is It' dates, despite none actually taking place. Revenue from tickets kept by fans as souvenirs brought in around $6.5m, while tour merchandise topped $5m. Other lucrative sources include a travelling exhibition, new merchandising deals and forthcoming initiatives like Ubisoft's recently announced video game.
- Recording Contract = $31 million
- In March, Sony Music inked a deal with the pop superstar's estate to release 10 albums of his music. This will include a collection of previously unreleased tracks and a reissue of the singer's 1979 solo breakthrough ‘Off The Wall'. Industry experts estimate the advance on this $250m deal is around $31m.
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