Just like investing stocks there’s an obvious trend in the music industry. One of the simplest rules in making money investing stocks is to follow the trend. So far there’s no single individual who had deviate from the trend and make good money except the so-called long-term investment also known as contrarian investment strategy. But then you can always argue that sooner or later the stocks will always reverse and go the way you were betting. Tell that to Warren Buffett. Anyway, the trend in the music industry was that your albums and fortune will always skyrocket after you’re no longer in this world – you’re dead.
It may be laughable but people will only remember singers or artistes who die young, preferably with scandals or publicity that invites debate by millions. That was the exact reason why most of the scandals or gossips in the Hong Kong entertainment industry were deliberately created to keep the artists “alive”. In fact the Hong Kong entertainment industry was so dirty that it was a known fact that you need to sleep with the “influential” persons in order to secure jobs. And I’m not talking about Edison, Cecilia, Gillian and Bobo’s nude and sex photos scandal.
With Michael Jackson’s death, the world has indeed lost a legend and pop-star after the King Elvis Presley who died in 1977 at age 42. Both share a common similarity – their songs were in cold storage and hadn’t had a hit album in years. But Michael Jackson did something which may reverse his estimated US$500 million in debts to positive figures – he invested. Now that his estimated assets could be worth as much as US$1 billion, you’ll read many opportunists to come out to claim a stake of his financial empire. Michael Jackson’s initial investment in Beatle’s catalog which he bought for $45.7 million back in 1985 is now worth at least US$400 million alone.
But it’s unclear if his intention to return the catalog back to Paul McCartney as specified in his will will go through considering Michael had actually sold 50% of his 50% stake in the Sony/ATV music catalog which includes his own music and the Beatles’ to investment firm Fortress Investment Group (FIG). Once good buddies, Michael Jackson and Paul McCartney became instant enemy when the former outbid the latter for the rights of the Fab Four’s legendary songs. While the story goes that Michael back-stabbed Paul after Paul told Michael his intention to buy the rights to his old songs and how much the catalog would worth someday. But then Paul was stupid in refusing to offer another US$4 million premium over Jackson’s bid if he was so sure the catalog was a gold-mine, not that he has no money to bid higher at the time.
There are not many legendary like Michael Jackson that the world can produce so naturally since his death, almost instantly everyone was nostalgic and start listening to his songs and watching his videos non-stop. Michael Jackson’s music video views on YouTube skyrocketed to 10 million from the average daily 216,000 – almost 50 times increase. Whether you like it or not, Michael Jackson was a genius and when he’s on stage, he’s God (of music) and you’re basically under his spell. The world will not see another electrifying King like him for many decades to come. Heck, we may never have another like him for the rest of our live simply because he’s irreplaceable. Rest in Peace Michael. Your moonwalker is legendary.
Enjoy some of his greatest music videos …