Mijac Music
{{Short description|Music catalogue}}
The Mijac Music catalogue is a music catalogue founded by American singer songwriter Michael Jackson in 1980. It comprises songs written by Michael Jackson, as well as notable songs performed by Jackson and other artists, including Sly and the Family Stone, Kenneth Gamble, and Leon Huff. The catalogue also includes songs made famous by other artists such as Ray Charles, Elvis Presley, and Aretha Franklin.{{cite web | url=https://variety.com/2024/music/news/michael-jackson-estate-sells-catalog-sony-music-billion-1235906277/ | title=Sony Music Acquires Major Stake in Michael Jackson Catalog, Valued at $1.2 Billion-Plus | date=9 February 2024 }}
History
The publishing rights to the Michael Jackson Mijac catalog were managed by Warner-Chappell from its inception in 1980. In 2005, the catalogue's value was reported to be at least $75 million.{{cite magazine | url=https://www.billboard.com/music/music-news/how-michael-jackson-made-1-billion-since-his-death-957679/ | title=How Michael Jackson Made $1 Billion Since His Death | magazine=Billboard }} Following Jackson's death in 2009, the catalogue's value was estimated to be between $50 million and $100 million, rising to $150 million within a year, according to Billboard.{{cite web | url=https://www.nytimes.com/2009/06/27/business/media/27finances.html | title=Jackson's Estate: Piles of Assets, Loads of Debt | work=The New York Times | date=27 June 2009 | last1=Arango | first1=Tim | last2=Sisario | first2=Ben }}{{cite magazine | url=https://www.billboard.com/music/music-news/how-michael-jackson-made-1-billion-since-his-death-957679/ | title=How Michael Jackson Made $1 Billion Since His Death | magazine=Billboard }}
In 2010, John Branca, the executor of Jackson's estate, moved the catalogue from Warner-Chappell to Sony Music Entertainment, granting Sony the rights to administration for 7 years in a deal worth $250 million.{{cite news |title= Michael Jackson in 'record' $200m music deal |publisher= BBC |date= March 16, 2010 |access-date= May 31, 2015 |url= http://www.bbc.co.uk/worldservice/business/2010/03/100316_jackson_biz_music_deal.shtml |archive-date= February 25, 2021 |archive-url= https://web.archive.org/web/20210225044440/http://www.bbc.co.uk/worldservice/business/2010/03/100316_jackson_biz_music_deal.shtml |url-status= live }} This agreement was renewed in 2018 for an additional 7 years, again for $250 million.{{Cite web|url=https://variety.com/2017/biz/news/michael-jackson-estate-and-sony-extend-recorded-music-deal-1202640787/|title=Michael Jackson Estate and Sony Extend Recorded-Music Deal|publisher=Variety|author=Variety Staff|date=December 14, 2017|access-date = 25 March 2022}}
Ownership
As of 2024, Michael Jackson's estate holds a 90% share of the catalogue, while Primary Wave Music holds the remaining 10%. In 2024, the estate sold half of Jackson's stake in Mijac Music to Sony Music Entertainment for $600 million, marking the largest deal for a single music artist's assets to date.{{cite web | url=https://variety.com/2024/music/news/michael-jackson-estate-sells-catalog-sony-music-billion-1235906277/ | title=Sony Music Acquires Major Stake in Michael Jackson Catalog, Valued at $1.2 Billion-Plus | date=9 February 2024 }}