The Japanese giant will invest a potentially record amount of $800 million to $900 million
Afp – The Japanese giant sony tries to acquire half of the music catalog of Michael Jackson for a potential record $800 million to $900 million, the US magazine reported Variety.
If the heirs who control the late King of Pop’s estate agree to the sale, it could include half of the interest they hold and the rights to the biopic that will star Jaafar Jacksonnephew of the artist, and on musical comedy MJ: The musical.
The deal, which would include another buyer alongside Sony, Variety, could become the biggest sale ever for the increasingly coveted music catalog industry. One of the companies that could be involved in this deal is Eldridge Industrieswhich partnered with Sony on the back catalog deal Bruce Springsteen and also acquired the band’s pre-2020 release The murderers.
With the streaming revolution, the musical rights of artists dead or alive, but considered timeless, have become precious goodsbecause whoever owns them earns money with each reproduction, earnings that are added to the income in case of reproduction of the music on the radio and in films or in commercials.
Over the past two years, Sony has paid more than $500 million to acquire Springsteen’s back catalog, and Universal Music has acquired the rights to Springsteen’s complete oeuvre. David Bowie for 400 million dollars. At the end of January the Canadian singer Justin Bieber sold the rights to its music catalog to the company hypognosis for 200 million dollars.
In this context, the anticipated value for the Michael Jackson catalog is particularly impressive, not least because it does not cover all rights, contrary to common negotiations in the sector.
The former Jackson 5 member, who died in 2018, aged 50, of acute anesthetic poisoning proposalhad a legendary solo career and left behind one of the most profitable music catalogs in the world.
Part of his work is managed by Primary wave musica company that specializes in catalog management and artist management and owns the work of stars come Whitney Houston, Bob Marley AND Prince.
Source: Terra
Earl Johnson is a music writer at Gossipify, known for his in-depth analysis and unique perspective on the industry. A graduate of USC with a degree in Music, he brings years of experience and passion to his writing. He covers the latest releases and trends, always on the lookout for the next big thing in music.
