In a groundbreaking deal, the estate of the late music icon Michael Jackson sold a significant stake in his music catalog to Sony Music Entertainment for a reported $1.2 billion. This transaction, which took place in 2016, is one of the largest music rights acquisitions in history.

The deal includes Jackson's entire catalog of more than 13 number-one singles, such as "Thriller," "Billie Jean," and "Bad," as well as his share of songs he co-wrote or co-owned. This collection represents the majority of Jackson's discography, spanning from his debut album in 1972 to his final studio album in 2001.

The music rights market has seen a surge in interest and investment in recent years. Understanding the value of music rights can be complex, as they encompass various types, including publishing, recording, and master rights. Music rights societies, such as ASCAP, BMI, and SESAC, help administer and collect royalties for these rights.

Who owns the right to music can be a complicated question, as it depends on the specific agreements between artists, record labels, publishers, and other stakeholders. In the case of Michael Jackson, his estate was able to negotiate a lucrative deal with Sony, securing a substantial financial future for his heirs.

The deal between the Michael Jackson estate and Sony is a testament to the enduring value of iconic music catalogs. As the music industry continues to evolve, it is likely that we will see more significant deals and investments in music rights.

Sources:

• Billboard: Michael Jackson Estate Sells Music Rights to Sony for $1.2 Billion
• Music Business Worldwide: Michael Jackson's Estate Sells 50% of His Catalog to Sony for $750 Million
• Forbes: The Business Of Michael Jackson's Estate