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Thought this was an interesting and intriguing read. I don't see it posted on here anywhere but it may very well be in another section of the forum. The comments under the article are interesting as well--sounds like a bunch of MJ fans.
Enjoy...
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Michael Jackson: Secret Business Genius?
Jan. 25 2011 - 7:44 pm | 12,932 views | 3 recommendations | 38 comments
By ZACK O'MALLEY GREENBURG
Michael Jackson: Getting down to business.
In 2010 http://www.forbes.com/profile/beyonce-knowlesMichael Jackson earned $275 million — more than Beyoncé, Lady Gaga, Madonna and Jay-Z combined — despite the fact that he was no longer alive.
Though much of that total can be attributed to the swell of nostalgia that boosted sales of all things Michael in the months following the King of Pop’s death, a sizable part is the product of his underrated business acumen.
To be sure, Jackson’s spending habits could put a Russian oligarch to shame. He blew the profits from sales of 750 million records on extravagances ranging from $10,000-a-night hotel stays to the construction and upkeep of his sprawling Neverland Ranch. Keeping money was not one of Jackson’s strong suits. But piling up stacks of it — and finding unusual ways to ensure that more would follow — was one of his many talents.
Perhaps the best move of Jackson’s financial career was one that had nothing to do with his own music. In 1985, he shelled out $47.5 million to buy a publishing catalog that included 250 Beatles songs. Ten years later Sony paid Jackson $90 million for half the rights, forming a joint venture called Sony/ATV.
Today, the Jackson estate and Sony share ownership of the catalog, which now boasts half a million songs including titles by Bob Dylan, Elvis Presley, Eminem and other artists. Insiders place the catalog’s value somewhere in the neighborhood of $1.5 billion, based on estimated proceeds of $50 million to $100 million per year. The estimate marks a 3,000% increase in value from the catalog’s initial purchase price — better than the 1,650% return on Class A shares of Warren Buffett’s Berkshire Hathaway since 1990.
“You’re talking about the greatest catalog in existence,” Ryan Schinman, chief of Platinum Rye, the world’s largest buyer of music and talent for corporations, told me shortly after Jackson’s death. “When you have that many No. 1 hits in a catalog, you almost can’t put a price on it.”
Read the rest here:
http://blogs.forbes.com/zackomalley...usiness-genius-music-business/?partner=fbwall
Enjoy...
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Michael Jackson: Secret Business Genius?
Jan. 25 2011 - 7:44 pm | 12,932 views | 3 recommendations | 38 comments
By ZACK O'MALLEY GREENBURG
Michael Jackson: Getting down to business.In 2010 http://www.forbes.com/profile/beyonce-knowlesMichael Jackson earned $275 million — more than Beyoncé, Lady Gaga, Madonna and Jay-Z combined — despite the fact that he was no longer alive.
Though much of that total can be attributed to the swell of nostalgia that boosted sales of all things Michael in the months following the King of Pop’s death, a sizable part is the product of his underrated business acumen.
To be sure, Jackson’s spending habits could put a Russian oligarch to shame. He blew the profits from sales of 750 million records on extravagances ranging from $10,000-a-night hotel stays to the construction and upkeep of his sprawling Neverland Ranch. Keeping money was not one of Jackson’s strong suits. But piling up stacks of it — and finding unusual ways to ensure that more would follow — was one of his many talents.
Perhaps the best move of Jackson’s financial career was one that had nothing to do with his own music. In 1985, he shelled out $47.5 million to buy a publishing catalog that included 250 Beatles songs. Ten years later Sony paid Jackson $90 million for half the rights, forming a joint venture called Sony/ATV.
Today, the Jackson estate and Sony share ownership of the catalog, which now boasts half a million songs including titles by Bob Dylan, Elvis Presley, Eminem and other artists. Insiders place the catalog’s value somewhere in the neighborhood of $1.5 billion, based on estimated proceeds of $50 million to $100 million per year. The estimate marks a 3,000% increase in value from the catalog’s initial purchase price — better than the 1,650% return on Class A shares of Warren Buffett’s Berkshire Hathaway since 1990.
“You’re talking about the greatest catalog in existence,” Ryan Schinman, chief of Platinum Rye, the world’s largest buyer of music and talent for corporations, told me shortly after Jackson’s death. “When you have that many No. 1 hits in a catalog, you almost can’t put a price on it.”
Read the rest here:
http://blogs.forbes.com/zackomalley...usiness-genius-music-business/?partner=fbwall