Thursday, January 6, 2011

Michael Jackson: the Biggest Contract in the History of Music

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Despite the fact that Michael Jackson is dead, he remains to be the King of Pop. Less than a year after his unpredictable death, the administrators of the late pop icon’s signed a contract. It is considered to be the biggest recording contract in the music history.

Sony Music Entertainment had a seven-year contract with Jackson that could cover up to 10 new Jackson projects but still no releases were announced by the company. It turned out that the Jackson deal eclipsed a range of mega-deals that were signed by contemporary acts.

But according to an anonymous source, in the nine months since Jackson's Death, the dinger managed to sell over 31 million albums, it is considered to be the period when   the music industry went on a decade-long album sales slide. If combine all those sales along with other licensing deals, the figure could amount to $250 million that could help ease the debt of nearly $500 million. It is considered to be the amount Jackson owed at the time of his death.

At present one can find another reissue of Jackson’s solo debut, 1979’s Off the Wall. It should be mentioned that a special edition of that album was re-released in 2001, it contained a pair of unreleased demos of such songs as “Workin’ Day and Night" and “Don’t Stop ‘Til You Get Enough.”

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