Thursday, July 18, 2024

Artists will earn crores in 2023 even if they die.. How?


Late last October, Forbes magazine released its list of the highest-earning dead celebrities of 2023, who earned a total of $470 million this year.

These profits were down about 70 percent from last year, when total revenue was about $1.6 billion.

Forbes attributed the sharp drop in profits to a decline in the acquisition of intellectual property rights to musical compositions (known as catalogs), in addition to millions of dollars in sales and intellectual property rights to the works of late artists. This represents half of the major celebrities who have died.

A music catalog is a list of musical compositions and songs written and recorded under the name of an individual or company, and the owner controls the copyright (publication, syncretism or primary rights) included in this list. Earns every time the songs and his music are used.

Acquisitions have always happened in the music industry over the years, but recently, amid deals worth hundreds of millions of dollars and music’s continued rise, they’ve received more attention from capital circles and big players in the business community. List ratings.

We review the most prominent dead artists who have collected earnings in the past year:

Michael Jackson ($115 million)

The King of Pop is back on the list of highest-paid dead celebrities for the first time since 2019, thanks to MJ’s $85 million hit on Broadway. One of Michael Jackson in Las Vegas.

Elvis Presley ($100 million)

Elvis Presley’s home in Tennessee, known as Graceland, continues to generate revenue even after the legendary rock and roll star left the building 50 years ago. Last year it saw about 600,000 visitors. Souvenirs.

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Ray Manzarek ($45 million)

In one of the most significant record deals, The Doors’ late keyboardist Ray Manzarek and live guitarist Robbie Krieger sold the rights to the band’s music to Primary Wave, a music publishing and talent management company. Their recorded music and publishing, as well as trademarks and advertising and related revenues.

Dr. Seuss ($40 million)

Theodor Seuss Geisel’s annual income comes from his literary works such as How the Grinch Last Christmas, which young readers still enjoy, while the rest of Dr. Seuss’s income comes from licensing his classic characters, including the Grinch, Cat in the Hat. , and The Lorax.

Charles M. Schulz ($30 million)

The designer of the popular cartoon characters Snoopy and Charlie Brown, a quarter century after his death, is still collecting revenue from his estate and the rights to the Snoopy and Charlie Brown characters that Apple TV bought. , in addition to selling cookware with the faces of popular cartoon characters.

Prince ($30 million)

Prince, who has described the afterlife as a “world of endless joy”, still generates revenue through his stakes, including Primary Wave, which owns stakes in the intellectual property surrounding the singer’s name and music, meaning more music is released.

Since his death in 2016, three albums have been released to his name, in addition to a remastered version of his legendary album Diamonds and Pearls last October, which includes some 47 unreleased songs and rare footage from live concerts.

Whitney Houston ($30 million)

The estate of American singer Whitney Houston is one of the highest-grossing properties of our time, thanks to her CV and numerous brand collaborations.

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In December, the movie “Whitney Houston: I Wanna Dance With Somebody” grossed nearly $60 million worldwide, and international cosmetics company MAC Cosmetics launched a makeup collection named after the famous singer.

John Lennon ($22 million)

John Lennon remains one of the most popular Beatles singers to date, and he reaps steady profits from his intellectual property rights to his songs (list), and in addition to his share of the Beatles’ music, the list is still growing. The band’s last song is slated to be released through artificial intelligence technology.

Bob Marley ($16 million)

More than 40 years after his death, Bob Marley’s songs are still in high demand, with the rights to his name on speakers, headphones and shoes. And he is expected to earn more during the movie “Pop”. Marley: One Love” was released. It is expected to be shown next year.

Bing Crosby ($14 million)

For many, Bing is the undisputed king of Christmas, and his musical and artistic output continues to gain traction to this day, and earlier last month, an album of archival material and rare recordings of Bing Crosby’s Christmas hits was released to streaming services. Just in time for the holiday season.

George Harrison ($14 million)

Like John Lennon, George Harrison received a steady income from his work with the Beatles and as a solo artist, part of his income coming from his Cirque du Soleil show inspired by the Beatles’ repertoire.

Marilyn Monroe ($10 million)

More than 60 years after her death, Marilyn Monroe’s image remains the fashion house’s best-selling image worldwide. The American star has also made millions from non-fungible tokens (NFTs), apart from a set of fakes. Eyelids and pressing claws from (pi).

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Pandora Bacchus
Pandora Bacchus
"Coffee evangelist. Alcohol fanatic. Hardcore creator. Infuriatingly humble zombie ninja. Writer. Introvert. Music fanatic."

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