In a groundbreaking deal, Sony Music Group has reportedly acquired 50% of Michael Jackson's music catalog for a staggering sum of at least $600 million. This valuation places the King of Pop's music assets at around $1.2 billion, making it potentially the largest ever valuation of a musician's catalog, according to Billboard. This deal is not only substantial in its financial scale but also historic, marking the most significant acquisition of a single musician's work to date.
Michael Jackson, who passed away in 2009, continues to wield immense popularity on music streaming platforms like Spotify, boasting an average of 40 million monthly listeners. Two of his iconic hits, "Billie Jean" and "Beat It," have individually amassed over one billion plays on Spotify alone, underscoring the enduring appeal of his music.
The timing of this deal coincides with the upcoming release of a biopic about Michael Jackson's life and career, featuring his nephew in the lead role. This strategic move by Sony also encompasses tracks by other artists held by Jackson's Mijac publishing group, including hits by Ray Charles, Elvis Presley, and Aretha Franklin, as reported by the BBC.
The financial magnitude of the Jackson deal rivals or exceeds the $1.2 billion sought by Queen, which includes royalties for streams and other uses, such as the Freddy Mercury biopic "Bohemian Rhapsody" and theatrical productions, as per Billboard. Notably, Sony's agreement with Jackson's estate excludes royalties from Broadway plays and other theatrical productions featuring his music.
Sony initially acquired 50% of what later became Sony/ATV in 1991, paying $100 million. The ATV catalog, purchased by Jackson in 1985, included the Beatles catalog, and Sony and Jackson each owned a 50% stake in Sony/ATV. This recent deal marks another significant chapter in the ongoing legacy of Michael Jackson's unparalleled impact on the music industry, solidifying his continued relevance even 15 years after his passing.