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Today, her estate stands to gain from the posthumous windfall that accompanies a superstar, with one industry expert predicting some $10 million in digital sales alone this year.
But other experts say that for various reasons, this last run up the charts won’t match the still-soaring sales of other departed entertainment icons like Michael Jackson and Elvis Presley.
"The estate would seem to enjoy what it has seen in the last couple of days in terms of iTunes sales," said David Reeder, vice president at GreenLight, a company that helps license the images and work of icons who have passed on. "
But at the end of the day, it will taper off because I don’t think she represents a huge promotional brand like a Michael Jackson or a Marilyn Monroe."There’s a limited upside," he said.Since Houston’s death on Saturday, sales of her downloadable albums and tracks soared on iTunes and Amazon.com. iTunes in Britain even marked up the price of two of her albums after she passed away, prompting an apology today from Sony Music.
Video: Owner of funeral home explains to media the plan for Whitney Houston funeralCarolyn Whigham, owner of Whigham Funeral Home in Newark, explains to the media on Tuesday afternoon that Whitney Houston's funeral will be held on Saturday at noon at the New Hope Baptist Church in Newark. She also talked about knowing the family and their loss. (Video by Noah K. Murray/The Star-Ledger)Watch videoForbes writer Zack O’Malley Greenburg said Houston could be looking as much as $10 million this year in digital sales.
"Michael Jackson sold more than 8 million albums in the U.S. alone in the six months after his death, and 20 to 30 million worldwide," he said. "Whitney Houston didn’t write her own songs like Jackson did, and therefore doesn’t share in publishing royalties."But her artist royalties alone could bring the estate more than $10 million in the coming year if her music sells even half as well as Jackson’s."
Despite selling more than 170 million albums and singles over her career and multi-million movie paydays, there were numerous signs Houston was struggling financially in recent years.In 2006, tax officials in Mendham said she failed to pay taxes for four straight quarters at her 12,561-square foot home she bought in 1987 for $2.7 million. Her total tax bill at the time was $83,000 and her mortgage company filed a lawsuit saying she owed it $1.04 million.A foreclosure was avoided, but the home, where she and ex-husband Bobby Brown were married and taped an ill-fated 2005 reality show, was put on the market for $2.5 million in 2009. The price was reduced to $1.97 million last year before the home was taken off the market.
Although her prenuptial agreement to Brown allowed her to escape spousal support of her ex-husband, Houston still wrangled with family legal issues. In 2008, her stepmother sued her over a $1 million life insurance policy from her late father, John Houston.While the case was eventually thrown out, the case showed Houston had lent her father nearly $800,000 for the purchase and renovation of a New Jersey home.In January, one gossip website reported Houston was "broke" and asking for financial support from friends and advance payments for future movie work. The next day, a representative for Houston said that story was "false and ridiculous."Houston’s attorney, Bryan Blaney, said he did not handle her financial affairs, but proceeds of any continuing revenues would go to her 18-year-old daughter, Bobbi Kristina Brown.
Houston school principal calls Whitney Houston a role modelHenry Hamilton, principal of the Whitney E. Houston Academy of Creative and Performing Arts in East Orange calls Houston a role model for his students. Houston attended the school when it was called the Franklin School, the school was later renamed to honor Houston. (video by John O'Boyle)Watch videoDanielle Mayoras, a legacy expert attorney, said Houston’s daughter will likely be financially set, no matter her mother’s financial problems."Even if Whitney Houston was broke, I still think her estate is going to accrue millions and millions of dollars," said Mayoras, who co-author of the book, "Trial & Heirs: Famous Fortune Fights!"
"You do look at the estate of Michael Jackson as a comparison. Obviously, he did not have a lot of money when he passed away and now you’re looking at a multi, multi-million dollar estate."But unlike other iconic artists, Houston’s post-mortem gains in the long term will have a definitive ceiling, several industry insiders said. In addition to not having lucrative songwriting credits to her ledger, Houston’s career ended on a low, they said."In the end, she was a sympathetic character and so many people were rooting her and the Grammys was a great opportunity to remember the best of her, and not her troubles," Reeder said. "But I just don’t think the market and the demand is that big to sustain huge growth year after year."
When Michael Jackson died, he was attempting a comeback," Lefsetz said. "There was a demand. Then there was a movie they made about a tour that never happened. There was a Cirque du Soleil show.
"With Whitney, she was in a lull in her career. There was no momentum."But Lefsetz added that her overall image of the wholesome songbird she started as would supersede her reputed troubles that plagued her later life as years go on."When someone dies, you tend to only look at the good stuff," he said. "It won’t be too long before we only remember the good Whitney."
http://www.nj.com/news/index.ssf/2012/02/experts_whitney_houstons_posth.html
