The untimely death of celebrities has turned into quite a lucrative business
Jennifer McClelland | RSS | 2 Comments
It’s the story everyone can’t stop talking about. When Michael Jackson passed away on Thursday, he left behind a mountain of debt, much more than the normal person would have. However, something strange has happened in the days following his death.
People have begun to buy his albums up so fast that cd producers can’t keep up with demand. After more than 15 years of having a CD anyone wanted to have in their house, all of a sudden, consumers are welcoming those albums back into their homes, actually opening up his music to a whole new generation of listeners.
Over the past few days, all of his albums have been in the top lists on iTunes and Amazon. It looks like following his death, Michael Jackson could end up being a very lucrative empire, although the man himself was $400 million in debt.
Deceased celebrities can actually bring in a small fortune after they have passed, particularly if he or she passed suddenly or unexpectedly. Elvis’s estate generated $52 million in 2008, 21 years after his death. Charles Schulz, the artist and creator of the Peanuts cartoon, earned $33 million in 2008.
In death, Elvis does so well partly because his image can be sold where as Schulz would likely not be recognized by the average person. You will see this anytime you walk into any gift shop on Beale Street in Memphis; they are all filled with Elvis memorabilia that is covered with his image. Jackson will likely not be remembered for his image, but for his music.
There is always the memorabilia that has been produced prior to his death that will earn some lots of money. Already, at auction, memorabilia from the early 90’s and 1980’s has fetched thousands of dollars more than what some thought they would be worth, and definitely more than they would be worth two weeks ago.
I thought that I should touch on the subject considering all the news agencies are reporting on this.
Top CEO payments of 2008, plus the Abercrombie and Fitch filing that left so many stunned.
It’s all fun and games until someone brings out the lawyers.
Business brokers are around to help you sell your business.
Tags: memphis, deceased celebrities, death
kathy from san diego wrongful death lawyer | Thu, Aug 27 2009
I wonder why people always seem to care so much after their death. I am always surprised at how people rush out to see a dead body. Who are they doing this for themselves ? family ? I always assert that you spend your time and money on the people you love and care about now, while they are alive. You will have no regrets. Death is not a particularly good reason to visit someone or to care about someone, especially since they are now a memory. I suppose memorabilia becomes valuable, because of the memory, but it is sad that people make a buck after someone’s death. I don’t mean that I wouldn’t do it, if I had a chance, but it just seems so wrong.
Chris McClelland | Fri, Aug 28 2009
I understand what you are saying Kathy. I’m not trying to be mean but I heard stories of people trying to sell Michael Jackson glitter gloves for $5-$10 and anything else, at his memorial service.
I don’t mind people paying their respects but hawking stuff is kinda tacky in my opinion.