Michael Jackson’s death has ignited a windfall for business ventures of all sizes, ranging from t-shirt salesmen to billion-dollar entertainment companies. Within hours of the King of Pop’s death, hawkers emerged with t-shirts commemorating the icon while Hollywood tour groups scrambled to include the mansion where Jackson died on their sightseeing itineraries. At the upper end of the scale, AEG Live, the promoters of Jackson’s 50-date set of London comeback concerts are confident of turning potentially catastrophic losses into healthy profits, with AEG Live chief executive Randy Phillips telling reporters that many fans would seek to hold onto their tickets as a unique souvenir in lieu of a refund, meaning the company could turn a profit. AEG Live also had an insurance policy worth US$17 million if it was found that Jackson’s death was accidental.
Additionally, sales of the King of Pop’s music have skyrocketed in the 10 days after his death, annexing the music charts in United States and Britain. Michael Jackson’s albums occupied 9 of the top 10 spots on the Top Pop Catalog Album chart released by Billboard on Wednesday. Jackson’s album “Number Ones” was number one on sales of 108,000 copies during the week that ended on June 28, followed by “The Essential Michael Jackson” and “Thriller” on sales of 102,000 and 101,000 respectively. Billboard also stated that Jackson’s solo albums sold 415,000 copies this past week, compared to sales of just 10,000 copies in the week that ended June 21. British music retailer HMV also reported an 80-fold increase in demand for Jackson’s music “almost overnight”, the highest one-day rise in sales seen for any artists, including Elvis Presley and John Lennon.
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