Michael Jackson’s estate has signed a contract of $200 million with Sony Corporation for ten projects. This deal of Jacko’s tunes will valid till the next seven years. This deal is counting as the biggest deal in this field till now.
Total ten projects will cover in this deal including one unreleased album of songs. Michael Jackson was died last year on 25th June when he was 50 years old. This one album was not released till that time.
An entertainment lawyer & Co-executor of Michael’s estate, John Branca, said: “During his life, Michael’s contracts set the standard for the industry. 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.”
Mr. John Branca said, “We think that recordings will always be an important part of the estate. New generations of kids are discovering Michael.”
He also said, “A lot of the people that went to see ‘This Is It’ were families. ‘This Is It’ was one of the few films allowed into China. So we think there are growing and untapped markets for Michael’s music.”
Demond of Michael Jackson’s music albums are still very high & Michael Jackson was the hottest singing star & biggest selling singing artist last year in United States.
More then 31 million albums has been sold of Michael Jackson after his death & most of them has sold out of United State.
Michael Jackson has left lot of fresh material which is more then enough for three new albums.
Jackson’s Elvis Presley estate may work over re-arrange & repacking of his old music albums as well as new albums. The first project is expected to released till November 2010.