Michael Jackson Top Earning Dead Celebrity - Official Report

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Offline DancingTheDream

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Michael Jackson top-earning dead celebrity: report
Reuters

NEW YORK (Reuters) – Michael Jackson's sudden death sparked an outpouring of grief around the world, but fans also opened their wallets to make him this year's top-earning dead celebrity with $275 million, Forbes said on Monday.

Jackson raked in more than the combined total of the other 12 celebrities on the list, Forbes magazine said. He was ranked third on last year's list with $90 million.

Elvis Presley came in second, earning $60 million from admissions to his former home, Graceland, which is now a museum and tourist attraction in Memphis, Tennessee, a Cirque de Soleil show and more than 200 licensing and merchandise deals.

"Jackson's spot atop our top earning dead celebrities list should come as no surprise given the renewed fan interest in music, videos and all things Michael Jackson," said Forbes writer Lacey Rose.

Jackson was 50 when he died in his Los Angeles home on June 25 last year, shortly before a planned series of comeback concerts in London. The singer left behind three children and a debt of $500 million.

But his estate has generated millions since his death, mostly through record sales, the "This Is It" concert movie, licensing rights, deals to release new albums and a Cirque du Soleil stage show in Las Vegas.

"Thanks to a lucrative catalog, hit film and album sales, the late king of pop earned more in the last year than Lady Gaga, Madonna and Jay-Z, combined," said Rose.

Jackson's physician, Dr. Conrad Murray, is awaiting trial on a charge that he is responsible for the singer's death by administering a powerful anesthetic to help him sleep.


http://news.yahoo.com/s/nm/20101025/peo ... 2P9iuuR5Z4
« Last Edit: December 31, 1969, 07:00:00 PM by Guest »

Offline finfin

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The Rich Afterlife Of The King Of Pop

  • on: October 25, 2010, 06:32:06 PM
http://www.forbes.com/2010/10/21/michae ... ckson.html
 Dead Celebs
The Rich Afterlife Of The King Of Pop
Zack O'Malley Greenburg, 10.25.10, 03:00 PM EDT

Smart deals by his estate have Michael Jackson set to be one of the top earners in music for years to come
Over the past year Lady Gaga, Beyoncé, Madonna and Jay-Z each each earned more than $50 million. But Michael Jackson earned more than all four--combined.

Fueled by a bonanza of interest following Jackson's death, his estate raked in $275 million over the past 12 months, by our estimates. That's more than enough to earn the King of Pop the top spot on our annual Dead Celebs list; in fact, it's more than the rest of the artists on the list put together, and more than any living artist or group.
"The cash flow on an annual basis is tremendous," says Donald David, an estate lawyer who handled the postmortem finances of rapper Tupac Shakur. "Sure, it's going to decline eventually, but it's going to be a huge amount in the foreseeable future. [Jackson's] kids are going to have grandkids before that money's gone."

The Gloved One's long-term earnings prospects in the afterlife have been bolstered by the deals arranged since his death. His estate received a $60 million advance for last year's film This Is It; sales of a Jackson-themed videogame, memorabilia and a re-released autobiography brought in an additional $50 million. The estate still owns the rights to Jackson's music, which took in nearly $50 million on heavy radio play and album sales over the past year. The funds have been used to put a significant dent into the roughly $500 million in debt Jackson left.

There's more cash on the horizon for the Jackson estate: A deal with Sony Music to put out unreleased recordings will bring in another $200 million to $250 million over the next seven years. Adam Kluger, chief of product-placement outfit The Kluger Agency, expects new Jackson releases to include collaborations with popular artists like Akon and Will.i.am, both of whom worked with Jackson shortly before his death. He believes the current surge of interest in Jackson will prove sustainable.

"Michael Jackson will definitely have staying power for years to come," says Kluger. "There is a strong demand for Michael Jackson's music and merchandise, and that will only increase as more material surfaces in the years following his death."
Perhaps the most lucrative asset in Jackson's estate is a set of songs recorded by other artists. In 1985 Jackson made a brilliant financial move by shelling out $47.5 million to buy a catalog that included rights to 250 Beatles songs. Ten years later, crippled with personal debts he's incurred through extravagances--from $10,000-a-night hotel stays to Rolls Royce convertibles purchased as gifts for his lieutenants--Jackson sold a 50% interest in the catalog to Sony for $90 million, forming a joint venture called Sony/ATV.

Today Jackson's estate still owns half the catalog, which now contains half a million songs, including titles by Elvis Presley, Bob Dylan, Lady Gaga, Eminem and Beyoncé. Industry insiders estimate that the catalog throws off $50 million to $100 million per year, giving it a total value of about $1.5 billion. That means an annual $25 million to $50 million for the estate's coffers, on top of the considerable sums coming from Jackson's own music and merchandise.

"His earning potential will only increase year after year, as his legacy continues to be cemented," says Susan Blond, who served as Jackson's publicist during the Thriller days. "When our great-grandchildren are talking about music, it will be Michael Jackson over Elvis Presley."
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Offline scorpionchik

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Top-Earning Dead Celebrities;Again Michael & Elvis

  • on: October 26, 2010, 12:31:20 AM
http://omg.yahoo.com/news/top-earning-d ... s/49507?nc

The late King of Pop made more money over the past year than any other musician or actor, dead or alive.

In Pictures: The 13 Top-Earning Dead Celebrities

Michael Jackson never graced Forbes' annual Celebrity 100 list during his life. In death, the King of Pop earned more in the past year than any star on that list, apart from Oprah Winfrey.

It was enough to secure Jackson the No. 1 spot on our 10th annual Top-Earning Dead Celebrities list. With gross earnings of $275 million, he earned more than the other 12 deceased stars on the list combined. Still more impressive: His estate's 12-month haul was greater than the pooled earnings of this year's two biggest living acts, U2 and AC/DC. Jackson's posthumous earnings come from his stake in the lucrative Sony/ATV catalog, the hit Sony film "This Is It" and renewed fan interest in music, videos, and all things Michael Jackson.

"The death of Michael Jackson really put a focus on -- crassly, quite frankly -- what someone's worth when they're deceased," says David Reeder, vice president of Corbis' GreenLight, which manages the personality rights for Albert Einstein and Steve McQueen, among other dead celebrities. "In a more positive way, it exposed consumers to this idea that there actually is a market for, and an enduring legacy for, these people."

To place on this year's list, a deceased celebrity needed to earn at least $5 million between October 1, 2009, and October 1, 2010, usually through things like music royalties (John Lennon), book sales (Dr. Seuss), or the licensing of one's image and likeness (McQueen). To compile the list, we spoke to agents, lawyers, and other sources to estimate a star's gross earnings (before taxes, management fees and other costs).

Coming in at No. 2 is Elvis Presley. The King of Rock 'n' Roll's estate pulled down $60 million in the 12-month period, thanks to Graceland admissions and a heavily hyped Cirque du Soleil show in Las Vegas. The estate's portfolio of more than 200 licensing and merchandise deals got a nice boost from the late star's 75th birthday celebration as well.

Stieg Larsson, author of The Girl with the Dragon Tattoo, debuts on this year's list at No. 6 with $18 million in earnings. The Swedish writer died in 2004 at the age of 50, before any of the books in his Millennium Trilogy were published. They have since sold 40 million copies, been translated into 44 languages, and spawned three hit Swedish movies.

No surprise, Hollywood has come calling. A U.S. version of the first book, The Girl with the Dragon Tattoo, is scheduled to hit theaters next December. The film will be directed by "The Social Network's" David Fincher and star Daniel Craig as hero Mikael Blomkvist. A cut of the money from the American movies (and a reported fourth book) will go to Larsson's estate, which is being fought over by Larsson's longtime girlfriend and his brother and father.

Also new to the list is New York Yankees icon George Steinbrenner, who ranks ninth with earnings of $8 million. The legendary owner passed away this summer at the age of 80, but his estate continues to cash in on the team's success. The Yankees have a lucrative stake in the YES regional sports network, and Steinbrenner's estate receives a cut of sales from the team's merchandise.

Many dead celebrities make the bulk of their posthumous fortunes on licensing deals. Unlike their living counterparts, who can suddenly fall into a heap of trouble (see Lindsay Lohan, Mel Gibson), dead celebrities have images -- be they glamorous, rebellious or tough -- that are unlikely to change. For that instant and considerably safer brand association, marketers are increasingly attaching themselves to the dead, says Mark Roesler, chief executive of CMG Worldwide.

Take Steve McQueen, who returns to the list at No. 11 with $6 million. The "Bullitt" star continues to personify cool three decades after his passing, and advertisers have taken notice. His image has been licensed to high-end brands like Dolce & Gabbana and Persol sunglasses. More recently, his likeness was used for Tommy Hilfiger's fall "icon collection" and UBS' global "We Will Not Rest" campaign.
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Offline pillekelille

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Why TMZ didn't wrote this? This was even in Estonia media.  :roll:  :roll: TMZ knows something for sure ;)
« Last Edit: December 31, 1969, 07:00:00 PM by Guest »
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