The Immortal tour is the eleventh highest-grossing tour in history with $371 million in ticket sales. The Vegas residency has been a consistent best-seller for nearly seven years, and has reportedly seen a huge upsurge in popularity in the wake of
Leaving Neverland. And that isn't even accounting for merchandise sales, which (as established) is an artist's predominant source of income.
Furthermore, Forbes has credited the Cirque shows as one of the Estate's predominant sources of income in their year-end list of highest-grossing dead celebrities every year since 2012 (and even called them the number one generator in
2013 and
2015).
That's not nothing.
Digitally remastering film to theater standards (2K resolution minimum)
costs several hundred thousand dollars on average. The last theatrically-released concert film to gross over $1 million (
One Direction: This is Us)
came out six years ago. Since studios operate on the classic adage of "double your budget = break even" (which oftentimes doesn't apply when considering promotion, distribution costs, and theater fees), the likelihood of success is low.
There is literally and objectively no financial incentive for the Estate to release a concert right now. They'd lose money.