Michael Jackson’s Catalog Worth $1.2B Sold in Record Deal to Sony Music Group
In a groundbreaking move, Sony Music Group has reportedly finalized an agreement to purchase 50% of the late Michael Jackson’s publishing and recorded masters catalog.
The deal, valued at over $1.2 billion, marks one of the largest transactions for a single musician’s work in history, with Sony committing to pay at least $600 million for its stake.
A Historic Milestone in Music Industry
This deal eclipses the $1.2 billion deal sought by rock band Queen and sets a new benchmark in the music industry.
Sony’s acquisition not only includes Jackson’s hit songs like “Beat It” and “Bad,” but also encompasses the music publishing assets within his catalog.
These assets feature songs written by iconic artists such as Sly Stone, Ray Charles, and Jerry Lee Lewis, expanding the breadth and depth of Sony’s music portfolio.
Retaining Control Over the Catalog
Despite the acquisition, the Michael Jackson estate will retain a significant degree of control over the catalog, setting this deal apart from other major catalog transactions involving artists like Bob Dylan, Bruce Springsteen, and Paul Simon.
This ensures that the estate continues to play a pivotal role in managing and preserving Jackson’s musical legacy.
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Sony’s Ongoing Relationship with Michael Jackson
This isn’t the first time Sony has engaged in business dealings with the King of Pop. In 1991, Sony purchased the first half of what would become Sony/ATV for $100 million.
This catalog, acquired by Jackson in 1985, included the Beatles catalog, demonstrating Jackson’s keen business acumen in music rights.
The Continued Popularity of Michael Jackson’s Music
Despite his passing in 2009, Michael Jackson‘s music remains incredibly popular, with an average of 40 million monthly listeners on Spotify alone.
His timeless hits like “Billie Jean” and “Beat It” have each been streamed over one billion times on Spotify, highlighting the enduring appeal and influence of his music across generations.
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Conclusion
Sony Music Group’s acquisition of half of Michael Jackson’s catalog represents a historic milestone in the music industry, underscoring the enduring legacy and commercial appeal of the King of Pop’s music.
With this deal, Sony strengthens its position as a leading player in the music publishing market while honoring the remarkable contributions of one of music’s greatest icons.
