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Forbes: Michael has beaten Elvis in highest-earning income with £60 million

sunnyday81

sunnyday81

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SALES BOOM EASES SINGER’S DEBTS


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Fans of Michael Jackson shout his name during a vigil in memory of him in Lima


Saturday August 8,2009

By Brendan Abbott


MICHAEL JACKSON music and memorabilia has earned the singer’s estate £60million since his death six weeks ago, according to Forbes magazine, writes Mike Parker.

The demand for the King of Pop’s work means he has already almost doubled the £32million that made Elvis Presley last year’s highest-earning dead celebrity.
A Forbes spokesman said yesterday: “Within days of his passing, Michael Jackson albums occupied the top five slots on the Amazon sales chart and, if anything, demand continues to grow.”
If official sales continue at the same pace Jackson’s debts of about £300million will be paid off by the end of this year.
A Jackson source told the Sunday Express: “His family was moved by the public outpourings of grief. Now they are amazed and proud of the extent of Michael Jackson fever they are witnessing. None of them expected this.”
Music company executives have ordered re-pressings of all of Jackson’s albums, especially his 1982 hit Thriller, which scooped a record eight Grammys and sold a world record 110million copies before the star’s death.
In Los Angeles last night a spokesman for retailer Target said: “Almost as soon as a new batch of Michael Jackson CDs hits the shelves every copy is snapped up. Supply simply isn’t matching demand.”
A huge percentage of merchandise currently available is unlicensed and of poor quality.
Two LA detectives have been assigned to stop the fraudsters, one of whom was caught selling T-shirts which were embossed with the wrong date of Jackson’s death.


http://www.express.co.uk/posts/view/119311/Sales-boom-eases-singer-s-debts
 
This comes as no surprise! I've a feeling that Michael and Elvis will be battling out with whose estate will be the top earner every year from now on. If we ever get anything close to a graceland type thing (MJ museum or place to go to pay respects), then definitely MJ will be on top every year.

Then again, MJ's estate has Mijac publishing and Sony/ATV. . . so the earning potential of the estate is astounding.
 
I just take all these articles about the state of his finances with a pinch of salt now. From what I've read before he should have been receiving at least 10% to 12% annually -of the value of his share of the catalogue. Even basing it on his share being worth $500 million that's at least $50 million a year of revenue for him. And 50% of that catalogue is worth far more than that.

So why do they all insist on overlooking that? Apparently the income from that was what was paying off the loans so ready cash it may not have been but its annual income all the same.
 
Stories like this should make me proud but in reality they make me miss Mike more.

He should be ALIVE!
John Lucas
 
im not surprised, many artists become bigger in death than they were in life. monroe, elvis, and now michael
 
This is the same Forbes magazine that Michael had no income coming in because he had no new albums and did no tours when he was alive? We know that was not true cause he had the catologue and he never stopped selling albums.
 
“The likelihood of a Jackson comeback will forever be debated,” Quelch wrote. “Elvis Presley, Marilyn Monroe James Dean, and now Michael Jackson – all leave to our imagination thoughts of what might have been. When a brand icon is torn from us prematurely, unexpectedly, it figures even larger in our collective memory.”

http://cmgworldwide.com/news/
 
Please tell me Michael faked his death, is living in peace and tranquillity somewhere. That the family and children are in on it and is happy clearing his debts and being back on top, where he belongs....
 
A Forbes spokesman said yesterday: “Within days of his passing, Michael Jackson albums occupied the top five slots on the Amazon sales chart and, if anything, demand continues to grow.”
If official sales continue at the same pace Jackson’s debts of about £300million will be paid off by the end of this year.
A Jackson source told the Sunday Express: “His family was moved by the public outpourings of grief. Now they are amazed and proud of the extent of Michael Jackson fever they are witnessing. None of them expected this.”
Music company executives have ordered re-pressings of all of Jackson’s albums, especially his 1982 hit Thriller, which scooped a record eight Grammys and sold a world record 110million copies before the star’s death.
In Los Angeles last night a spokesman for retailer Target said: “Almost as soon as a new batch of Michael Jackson CDs hits the shelves every copy is snapped up. Supply simply isn’t matching demand.”
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I'm so very proud of all us Michael Jackson fans everywhere on this
planet. Michael Jackson I'm sure is smiling down from Heaven on
all of us. :wub:
 
StephluvsMJ said:
MJ is the KING. No doubt about that now!
Click to expand...
Michael is King of Music for eternity. I have never seen so much love and interest in one man's music in my life time. Elvis was loved and still is but nothing to this magnituide. Michael certainly makes HIStory.
 
I truly am happy that this is all happening for Michael, but at the same time I just keep wondering, why the heck could'nt he still be alive to experience all this?.....happy and sad at the same time....
 
what hurt me is that he did not have to die nor was he ready to die. Michael was making a big comeback. I cried Friday to when I heard Whitney Houston because she and Michael was the big comebacks of this year that people was waiting to see. Can you all believe that MIchael would have done almost half his shows in London for this year? This is not fair and I am mad. Michael death could have been avoided. MAN killed Michael, not God.
 
So true to say this is just the beginning! Michael, I really hope you know how much we all loved you????
 
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