Just when you thought Michael Jackson couldn’t get weirder, the late King of Pop is now the new King of Pop. The AP reports the Estate of Michael Jackson has signed “the biggest recording deal in history: a $200 million guaranteed contract with Sony Music Entertainment (SNE) for 10 projects over seven years.”
Next thing you know, TMZ will be reporting Jackson’s moon walk … on the moon.
This is probably a smart deal for Sony. Like the Beatles, Elvis, and any other rare transcendental artists, the demand for Jackson’s music will continue in perpetuity across the generations.
Now all we need are some creative financial engineers to securitize the future revenue stream, chop it into traunches of hits and filler, and whoa-la: we may have another Black Swan bubble.
Will you be buying Michael’s “new” albums? Let us know in the comments below …