Here's an interesting article looking at how Michael Jackson (or the money he made from royalties) shows us what is wrong with the economy.
basically, they say the problem his that MJ didn't really get his far share and a lot of his money went to Sony (his record label)and these people don't actually create anything new any more, they just keep getting money of the old.
or in short it's another reason why you should own and control your work, because that's the only way you can be sure you are making the most money form it.
Monday, July 13, 2009
Friday, July 3, 2009
Micheal Jackson, King of pop-star finical issues
with the sad passing of Michael Jackson, there is also a lesson about finical that we can learn from the King of Pop.
we all know that Michael Jackson is reportedly in debt.
It maybe hard to believe someone with the success that MJ had would have money problems until you realize that his money problems where really do to the King of Pop living well beyond his means even with the amount he was making.
it's been well documented on the types of things MJ has spent his money on such as the elephant man's bones, wild animals and Neverland ranch (and it's up keep) etc.
the thing is beside his personal finance Michael Jackson is usually was a good business person. he owned half a stake in Sony ATV music publishing (who owned the rights to a songs form such acts as the beetles, lady gaga, Jonas brothers and many more high profile singing acts) as well as making millions in merchandising.
but even on the business end MJ has made a few mistakes such as budgeting for his last album. Micheal Jackson and sony spent $50 million to produce Jackson's last album Invisible. But if they looked at money made from the last two albums returned at a much lower amount. History only made $35 million and Blood on the dance floor only made $10 million.
we all know that Michael Jackson is reportedly in debt.
It maybe hard to believe someone with the success that MJ had would have money problems until you realize that his money problems where really do to the King of Pop living well beyond his means even with the amount he was making.
it's been well documented on the types of things MJ has spent his money on such as the elephant man's bones, wild animals and Neverland ranch (and it's up keep) etc.
the thing is beside his personal finance Michael Jackson is usually was a good business person. he owned half a stake in Sony ATV music publishing (who owned the rights to a songs form such acts as the beetles, lady gaga, Jonas brothers and many more high profile singing acts) as well as making millions in merchandising.
but even on the business end MJ has made a few mistakes such as budgeting for his last album. Micheal Jackson and sony spent $50 million to produce Jackson's last album Invisible. But if they looked at money made from the last two albums returned at a much lower amount. History only made $35 million and Blood on the dance floor only made $10 million.
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