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    Michael Jackson estate signs biggest recording deal in history

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    Smooth Criminal
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    Michael Jackson estate signs biggest recording deal in history

    Post by Smooth Criminal on Tue Mar 16, 2010 2:42 pm

    Michael Jackson's estate has signed the biggest recording contract in history, nine months after the pop legend's death.

    The $250m (£164m) deal for up to 10 recordings by 2017 represents a huge bet on the singer's continued popularity with a new generation of listeners who did not grow up at the peak of his stardom.

    It gives Sony the rights to sell Jackson's back catalogue and previously unreleased tracks, and the soundtrack to This is it, the concert movie Jackson was filming when he died from a drug overdose in June, at the age of 50. The arrangement also gives Sony the right to exploit his music in video games, amusement park rides, television adverts, memorabilia, a DVD compilation and elsewhere.

    The Hollywood news website TMZ.com, which broke the news of Jackson's death in June, reported that the singer left behind enough material for three albums of new music, the first of which is to be released in November.

    "Michael's contracts set the standard for the industry," John Branca, one of the executors of Jackson's estate, said. "By all objective criteria, this agreement with Sony Music demonstrates the lasting power of Michael's music by exceeding all previous industry benchmarks."

    Rob Stringer, chairman of Sony Music's Columbia Epic Label Group, said: "We're dedicated to protecting this icon's legacy and we're thrilled that we can continue to bring his music to the world for the foreseeable future."

    Stringer told the New York Times: "It's not just a record deal. I don't know how an audio soundtrack will be used in 2018 but you've got to bet on Michael Jackson in any new platform."

    The deal eclipses previous music industry records, such as rapper Jay-Z's $150m deal with concert promotor Live Nation Entertainment. It comes at a time of declining fortunes for the recording industry, which has been devastated by online sharing of music.

    Consumer interest in Jackson soared immediately after his death – he has sold some 31m albums since his death, about two-thirds of them outside the US – but has declined since.

    The Sony deal gambles on his continuing relevance among younger listeners, just as megastars like Elvis Presley, the Beatles and Bob Marley remain lucrative brand names. Presley's estate takes in between $50m and $60m a year through music sales and licensing deals, according to the Los Angeles Times.

    Profits from the deal will go into a trust shared by Jackson's mother and three children. The deal could go a long way towards settling the hundreds of millions of dollars of debt the performer left behind when he died.

    In the months leading up to his death, Jackson was rehearsing for a gruelling run of concerts, scheduled to start less than a month after he died. His doctor, Conrad Murray, was charged with involuntary manslaughter in Los Angeles last month in relation to the singer's death.


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    Re: Michael Jackson estate signs biggest recording deal in history

    Post by ColdWater on Wed Mar 17, 2010 7:14 am

    Thats wierd. Theres no copyright of his music if you stick it in a videogame. Thats uncalled for
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    Re: Michael Jackson estate signs biggest recording deal in history

    Post by Billie Jean Beauty Queen on Wed Mar 17, 2010 10:43 am

    I'm very happy that we can actually see and listen to the music Michael made because that was really making me sad before - i was thinking God he's really gone, we won't hear any new music any more! But now I'm alright if there's going to be another album. But in another way it just somehow don't seem right! The album is one but videogames or all kinds of stuff that don't sell otherwise - that's too much!


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