Sony Music Group has signed a deal to acquire a 50% stake in Michael Jackson's music catalog for $600 million, including both publishing and recorded masters, Billboard reported Friday.
The acquisition was completed late last year. according to To billboard. This includes not only Jackson's own songs, but also a collection of songs from other iconic artists in the Mijak Publishing catalog, including Sly & the Family Stone, Jerry Lee Lewis, and Ray Charles. Masu. The deal underscores Sony's commitment to owning significant music assets, as evidenced by its history of transactions with the Jackson Estate totaling more than $2 billion.
Sony has agreed to acquire half of Michael Jackson's catalog from the Jackson estate, possibly the most expensive acquisition ever for a single musician's work, according to two people briefed on the deal. It is said that there is a high possibility of a deal. https://t.co/cygssUHnVo
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The deal focuses only on recording and publishing assets and does not include royalties from Broadway or other theatrical productions featuring Jackson's music, the outlet said. Far from diminishing, Jackson's legacy has certainly continued to grow, especially with the rise of streaming platforms. His music consumption has increased significantly, with his album-equivalent sales increasing by 37% in three years in the US alone, outpacing the overall market growth. Internationally, Jackson's appeal is even stronger, with his streaming numbers increasing markedly.
The upcoming release of the biopic “Michael'' is expected to further increase interest in Jackson's music, potentially providing an additional source of income for the estate and rights holders. (Related: Michael Jackson had 19 fake IDs for prescription drugs, says former incarcerated doctor)
According to Billboard, the deal also retains the involvement of co-executors John Branca and John McClain, who have been instrumental in managing the Jackson Estate's assets. Additionally, it honors Primary Wave's existing 10% stake in Jackson's publishing assets, illustrating the complexity of music copyright ownership and the collaborative nature of such high-stakes deals. There is.
