Michael Jackson Estate Signs Biggest Record Deal Ever
Even after his death, Michael Jackson continues to set records. Despite declining album sales in the music industry, the King of Pop has landed the largest recording deal in history.
Sony Music Entertainment will pay the Jackson estate as much as $250 million for the right to release 10 projects over the next seven years, according to The Wall Street Journal.
Future offerings may include a mix of previously unreleased songs, new packages of familiar hits, and a DVD compilation of music videos. One of the albums containing never-before-released Jackson recordings is expected in November. The soundtrack to last fall’s concert documentary This Is It will count toward the 10-album obligation.
“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,” said Sony Music Chairman Rob Stringer.
The record-breaking contract eclipses previous deals by Mariah Carey ($100 million), Bruce Springsteen ($100 million), Madonna ($120 million), and Jay-Z ($150 million).