Half of Michael Jackson's copyrights transferred to Sony Music for 800 billion won... largest ever
The U.S. Billboard reported that Sony Music Group of the United States signed a contract to purchase half of the music and composition copyrights of pop king Michael Jackson for at least $600 million (approximately KRW 800 billion). It is said to be the largest ever copyright transaction for a single singer.
According to the U.S. Billboard on the 9th (local time), according to several sources related to the U.S. music industry, the value of Michael Jackson's music assets is estimated at $1.2 to $1.5 billion (approximately 1.6 trillion to 2 trillion won), and Sony Music and the Michael Jackson Foundation is said to have traded half of the copyright for $600 million based on this valuation.
However, royalty income related to the production of Broadway plays and other performances using Jackson's music was not included.
Billboard previously estimated that the Jackson Foundation earns approximately $70.5 million (approximately KRW 100 billion) in copyright revenue each year, of which direct revenue related to Jackson's albums and publications alone amounts to $47.2 million (approximately KRW 63 billion). there is.
Billboard predicts that copyright profits will increase further with the growth of the music streaming market and the release of Jackson's biopic 'Michael' next year.
