Demand soars for Jackson music after singer's death
NEW YORK (Reuters) - Michael Jackson's pop music legacy stretches back 40 years and could extend well into the future as music companies and retailers reissue CDs, repackage his songs and resell memorabilia after his sudden death.
In dollar terms, Jackson, who died at age 50 after going into cardiac arrest on Thursday, justified his title as the "King of Pop." He was believed to have sold 750 million records and had the No. 1 bestselling album of all time, "Thriller."
His death has sparked renewed interest in his albums and videos. Everyone from the labels that produced his albums to media outlets, retailers and street vendors selling Jackson T-shirts is set to cash in to the tune of millions of dollars.
"Michael pulled an Elvis. It's probably the best thing that happened to them this year," Wayne Rosso, a music industry consultant and publicity executive, said of various Sony Corp record labels that own Jackson's music.
Jackson's hitmaking reliability faded over time, with albums such as 1995's "HIStory" and 2001's "Invincible" failing to top earlier pop music landmarks such as "Thriller" and "Off the Wall," and Jackson 5 hit singles like "One More Chance."
But when an artist of his stature dies, it revives sales of once mediocre albums, spurs a hunt for unreleased tracks and jump-starts efforts to do repackage albums and singles.
Apple Inc's iTunes, the biggest music retailer in the United States, reported on Friday that Jackson albums accounted for the top-nine sellers, led by a hits package and his 1982 blockbuster "Thriller."
A Sony spokesman said the label had not decided what to do with its Jackson record catalog. A spokeswoman for Universal, which owns the Motown label that produced the Jackson 5's albums, did not return a telephone call seeking comment.
What likely will happen, Rosso said, is that Sony and Universal will let fans mine Jackson's existing catalog.
"And then a year from today, they will come out with some sort of memorial box set," he said.
SALES SPIKE
Sales of Jackson's music, videos and other goods are spiking on the Internet and at major retailers.
"We have seen a significant increase in sales of Michael Jackson CDs at our stores within the past day or so," said Joshua Thomas, spokesman for retailer Target Corp.
At online retailer Amazon.com Inc, Jackson CDs and DVDs sold out in the first few minutes following reports of Jackson's death. Amazon sold more Jackson merchandise in the past 24 hours than in the prior 11 years, a spokesman said.
Online auction site eBay Inc also reported a spike in Jackson products, with new listings up 61 percent. Continued...
