The sad death of the world’s most famous, not to mention enigmatic, musical artist yesterday is clearly bad news for locations such as the O2 building which was due to host one of Michael Jackson’s live concerts. But one company could rake in the bucks.
You may recall, when Freddie Mercury died, Bohemian Rhapsody went straight back to number one. Imagine seemed to become more famous and popular after the death of John Lennon.
You may also recall, one of the reasons why Michael Jackson was planning to go back on the live concert circuit was because he had sold the rights to his back catalogue of music, and he needed money.
The company which owns the rights to the Off the Wall, Thriller, Bad, Dangerous and History albums is Sony.
Howard Stringer, Sony Chief Executive Officer, said in a statement: “Michael Jackson was a brilliant troubadour for his generation, a genius whose music reflected the passion and creativity of an era… We have been profoundly affected by his originality, creativity and amazing body of work. The entire Sony family extends our deepest condolences to his family and to his millions of fans.”
No doubt the statement was meant too, but in a year’s time Sony’s shareholders may be counting rather a lot of money.
© Investment & Business News 2013