Michael Jackson's Estate celebrated the first anniversary of MJ's death with series of press releases, interviews and leaks about what happened within the estate in the last year. Below you may find an overview of these information, what in my opinion prooves how great work they did.
Debts paid off:
- $70 million in total.
- All Encino property and nearly condo bills and $5 million loan.
- Video and Audio Center paid off.
- Thomas Mesereau's office paid off.
- $35 million advance from AEG Live paid back.
- $1.3 million to Los Angeles to cover MJ's funeral.
Business changes:
- Sony/ATV deal soon to be renewed, MJ's yearly income will be doubeled from ~$10 million to ~$20 million. $270 million loan payment refinanced with better terms for the Estate.
- MiJac deal renewed along with a new public-performance agreement. $70 million loan will be paid back until Summer, 2011.
Incomes:
- Over $250 million in total.
- Sony album deal $125 million in advance, over $200 million in 7 years.
- This Is It movie $252 million in ticket sales.
- This Is It DVD/Blu-Ray sales $70 million.
- This Is It TV licensing $20 million.
- Merchandising and licensing deals $26 million in total.
- MiJac with $35 million yearly income.
- Sony/ATV with $11 million yearly income.
Numbers:
- 31 million albums sold worldwide.
- 800.000 Jackson 5 albums sold worldwide.
- 40 million digital downloads worldwide.
- 4.5 million ringtone downloads worldwide.
- 140.000 radio plays alone in the US.
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3 comments:
LeslieMJHu,
You post: "$270 million loan payment refinanced with better terms for the Estate.
- MiJac deal renewed along with a new public-performance agreement. $70 million loan will be paid back until Summer"
In Nov 09 you posted the "Since Jackson just repaid the loan the agreement has been terminated, and the titles of 1503 songs from the MiJac catalouge been transferred back to the star"
On Mar 08 "According to a recent interview with a Michael Jackson associate, the star has $100 million in loans. This is a good news indeed: the very same loan was more then $300 million back in 2005."
Did MJ use the MiJac catalog for a loan after retrieving it in 08 and if so when and if not MJ then who and why?
Has the loans been refinanced?
LeslieMJHu,
I keep asking the following questions to various financial sources and meeting a brick wall. Absolute silence.
Has the Estate refinanced $270 million loan? Is it not due Sept 10, 2010?
What $70 million loan on - MiJac? MJ just paid it off in Nov 08. There were no reports from the entertainment or financial sector about him using MiJac as collateral against any other loan.
Second set of questions.
When you speak of "Sony/ATV deal soon to be renewed and the " MiJac deal renewed along with a new public-performance agreement" What deals are you referring to?
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