WORLD
MICHAEL JACKSON HAS ‘MADE $1BN’ SINCE HIS DEATH
Baku, June 23 (AZERTAC). Michael Jackson`s estate has made more than $1bn (£677m) since his death a year ago, according to estimates by trade paper Billboard.
The magazine says Jackson`s album sales have generated about $383m (£259m), while revenue from the film This Is It has hit nearly $400m (£271m).
Profits from publishing rights, licensing and touring are also included in the total.
A new recording contract is estimated to have made $31m (£21m) so far.
The Sony Music Entertainment deal will see 10 albums of the late singer`s music released over the next seven years, including one of previously unreleased material.
The estate is guaranteed between $200m (£135m) and $250m (£169.5m) for the deal but Billboard believes approximately $31m (£21m) of this will have been paid in the last 12 months.
Jackson`s music publishing company, Mijac, currently has a value of around $150m (£102m), according to Billboard.
The magazine said Mijac could have generated as much as $50m (£33.9m) in the last year.
Jackson`s estate also owns half of music publishing company, Sony/ATV.
Barry Massarsky of Massarsky Consulting estimated that Jackson`s share of Sony/ATV`s revenue is $80m (£54.3m) a year.
Other profits have come from DVD sales and rentals, downloads, royalties and ringtones.
Jackson died on 25 June last year at the age of 50.