Sony Clinches Historic $600M Deal for Michael Jackson's Music Catalog
Portfolio Pulse from Anusuya Lahiri
Sony Group Corp (NYSE:SONY) is set to acquire a 50% stake in Michael Jackson's music catalog from his estate in a deal valued at over $600 million, the largest of its kind. The acquisition includes song shares, the Mijac publishing catalog, master recordings, and publishing rights. This move, along with the release of a biographical movie about Jackson, underscores the lasting commercial interest in his work. Sony reported an 8% year-on-year sales growth in Q2 FY23 and remains committed to its PlayStation and Spider-Man franchises.
February 12, 2024 | 1:16 pm
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Sony's acquisition of a 50% stake in Michael Jackson's music catalog for over $600 million marks a significant investment in music rights, potentially boosting its content library and revenue streams.
The acquisition of Michael Jackson's music catalog is a strategic move for Sony, enhancing its music rights portfolio and potentially increasing its revenue from music royalties. Given the historical significance and the commercial interest in Jackson's work, this deal is likely to be viewed positively by investors, potentially leading to a short-term uptick in Sony's stock price. The mention of Sony's financial performance and commitment to its PlayStation and Spider-Man franchises further supports the company's strong market position and diversified revenue streams.
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