According to Billboard, Sony Music Group has agreed to buy half of Michael Jackson’s publishing and recorded masters collection, valued at over $1.2 billion. The platform also stated that Sony will pay at least $600 million for its stake.
According to the Seattle Times, this sale is perhaps the most lucrative for a single performer. In other terms, it is the most lucrative deal ever made for a single musician’s work.
According to Billboard, the settlement is larger than the $1.2 billion sought by rock band Queen. It includes royalties from income streams beyond masters and publishing, such as the Freddie Mercury biography “Bohemian Rhapsody” and theatrical performances employing Queen’s music.
Sony’s contract with the Michael Jackson estate includes not just the estate’s portion of hit songs such as “Beat It” and “Bad,” but also music publishing assets from Jackson’s repertoire. According to The Seattle Times, this contains songs created by Sly Stone as well as tunes popularized by musicians such as Ray Charles and Jerry Lee Lewis. The arrangement, however, does not include earnings from Jackson’s Broadway show or other theatrical performances that featured his music, Billboard reported.
In comparison to other large catalog deals in recent years, such as those with Bob Dylan, Bruce Springsteen, and Paul Simon, the Michael Jackson estate retains a significant amount of control over the catalog.
Despite his death in 2009, Jackson’s music continues to be highly popular on streaming sites. According to statistics, he has 40 million monthly listeners on Spotify. According to the BBC, his big singles “Billie Jean” and “Beat It” have received over one billion Spotify plays each.
Jackson has done business with Sony before. According to Billboard, in 1991, it paid $100 million for the first half of what became Sony/ATV. ATV is the catalog Jackson bought in 1985, which included the Beatles catalog.
According to the agreement, Sony and Jackson each owned 50% of Sony/ATV; however, in 2016, Sony paid $750 million for the remaining 50%.