Sony acquires half of Michael Jackson's catalogue for $600M
Sony Music Group reportedly purchased half of Michael Jackson's catalogue for a staggering $600 million, valuing the pop icon's musical assets at over $1.2 billion. This historic deal marks the largest transaction for a single artist's work to date.
Michael Jackson, who passed away in 2009 at 50, remains one of the best-selling artists globally, with record sales surpassing 400 million. Despite some disputes, this number could be significantly higher. His 1982 album, "Thriller," holds the record for the highest-selling album ever, as certified by Guinness World Records.
Jackson's popularity extends to streaming platforms, boasting nearly 40 million monthly listeners on Spotify. His hits "Billie Jean" and "Beat It" have each garnered over a billion streams on Spotify alone. Anticipation for a forthcoming biopic featuring Jackson's nephew in the lead role is expected to further boost interest in his music.
The catalogue deal also encompasses songs from other legendary artists managed by Jackson's Mijac publishing company, including Ray Charles, Elvis Presley, and Aretha Franklin. The transaction was facilitated by the Estate of Michael Jackson, which oversees the late star's legacy.
The trend of artists selling their back catalogues has become increasingly profitable, with Bruce Springsteen and Bob Dylan making $500 million and up to $450 million, respectively, from their deals. Queen is also rumored to be considering a similar agreement.
Sony Music Group and the Estate of Michael Jackson have yet to comment on the deal.