.jpg)
Sony Music Group is reported to have acquired 50% of Michael Jackson’s catalog for at least $600 million (£475 million), valuing the late pop icon’s musical assets at over $1.2 billion (£950 million).
This deal marks the largest ever for the work of a single artist.
Michael Jackson, who passed away in 2009, is one of the most successful pop stars globally, with sales exceeding 400 million records. His iconic 1982 album, “Thriller,” remains the best-selling record of all time.
With nearly 40 million monthly listeners on Spotify, his popularity on streaming platforms is enduring, and hits like “Billie Jean” and “Beat It” each boast over one billion Spotify plays.
The catalog deal is rumoured to include tracks by other artists obtained by Jackson’s Mijac publishing group, featuring hits by Ray Charles, Elvis Presley, and Aretha Franklin.
The transaction was likely negotiated with the Estate of Michael Jackson, responsible for managing the late star’s affairs.
This move aligns with a trend of artists monetising their back catalogs, with figures like Bruce Springsteen and Bob Dylan achieving substantial sums.
Queen is reportedly considering a similar deal. Sony Music Group and the Estate of Michael Jackson have yet to respond to BBC News for comment.
BY BBC